Privia Health Group, Inc. (NASDAQ:PRVA) Receives $31.13 Consensus Target Price from Analysts

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have been given an average recommendation of “Moderate Buy” by the sixteen research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $31.1333.

PRVA has been the topic of several recent research reports. Piper Sandler reissued an “overweight” rating and issued a $36.00 price objective on shares of Privia Health Group in a research note on Thursday, February 26th. Truist Financial raised their target price on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Barclays boosted their price target on shares of Privia Health Group from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 25th. Weiss Ratings restated a “hold (c)” rating on shares of Privia Health Group in a research report on Friday, March 27th. Finally, Citigroup lowered their price objective on Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd.

Insider Activity at Privia Health Group

In related news, CEO Parth Mehrotra sold 26,509 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $22.11, for a total transaction of $586,113.99. Following the transaction, the chief executive officer owned 555,443 shares of the company’s stock, valued at $12,280,844.73. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David Mountcastle sold 6,391 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $22.11, for a total value of $141,305.01. Following the completion of the transaction, the chief financial officer owned 220,413 shares of the company’s stock, valued at $4,873,331.43. The trade was a 2.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 242,191 shares of company stock worth $5,520,587 over the last three months. 10.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Privia Health Group

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Privia Health Group by 5.3% in the third quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock valued at $301,263,000 after buying an additional 607,447 shares in the last quarter. Durable Capital Partners LP grew its holdings in shares of Privia Health Group by 1.8% in the 3rd quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company’s stock worth $291,123,000 after acquiring an additional 203,842 shares during the period. State Street Corp increased its stake in Privia Health Group by 1.5% in the 2nd quarter. State Street Corp now owns 4,171,069 shares of the company’s stock valued at $95,935,000 after purchasing an additional 61,853 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings in Privia Health Group by 1.8% during the fourth quarter. Van Berkom & Associates Inc. now owns 3,844,256 shares of the company’s stock worth $91,147,000 after purchasing an additional 69,691 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Privia Health Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company’s stock worth $66,738,000 after purchasing an additional 31,204 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Privia Health Group Price Performance

Shares of PRVA stock opened at $21.21 on Friday. The stock has a market capitalization of $2.62 billion, a PE ratio of 124.76, a price-to-earnings-growth ratio of 1.32 and a beta of 0.87. Privia Health Group has a 52-week low of $18.77 and a 52-week high of $26.51. The stock’s 50-day moving average price is $22.14 and its 200 day moving average price is $23.43.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.21. The company had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. Analysts expect that Privia Health Group will post 0.14 earnings per share for the current fiscal year.

Privia Health Group Company Profile

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.