Privia Health Group, Inc. (NASDAQ:PRVA) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Eleven of 14 analysts rate Privia Health Group a “buy,” while three recommend holding the stock. The average 12-month price target is $31, well above the reported share price of $20.79.
• Quarterly results exceeded expectations: Privia reported adjusted earnings of $0.19 per share versus the $0.07 consensus estimate, while revenue of $632.63 million surpassed expectations and rose 21.4% year over year.
• Insiders have been selling shares: Company insiders sold 327,886 shares worth approximately $8.6 million over the past three months, though institutional investors continue to own a significant 94.48% stake.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) has received a consensus rating of "Moderate Buy" from the fourteen analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $31.00.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Privia Health Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 2nd. Barclays reduced their target price on shares of Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 26th. Citigroup reiterated a "buy" rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Canaccord Genuity Group set a $32.00 price target on shares of Privia Health Group in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th.

Insider Transactions at Privia Health Group

In related news, Director Matthew Shawn Morris sold 53,722 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the sale, the director directly owned 68,188 shares of the company's stock, valued at $1,857,441.12. This trade represents a 44.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 21,275 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $27.67, for a total value of $588,679.25. Following the transaction, the chief financial officer owned 164,853 shares in the company, valued at approximately $4,561,482.51. This represents a 11.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 327,886 shares of company stock valued at $8,628,256. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Privia Health Group

A number of large investors have recently made changes to their positions in PRVA. Bayban bought a new position in shares of Privia Health Group during the fourth quarter valued at approximately $26,000. Public Employees Retirement System of Ohio bought a new stake in Privia Health Group in the second quarter valued at $26,000. Hantz Financial Services Inc. boosted its holdings in Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company's stock valued at $27,000 after acquiring an additional 926 shares in the last quarter. Global Retirement Partners LLC increased its position in Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company's stock valued at $38,000 after purchasing an additional 1,351 shares during the period. Finally, Allworth Financial LP purchased a new position in Privia Health Group during the 2nd quarter valued at $48,000. 94.48% of the stock is currently owned by institutional investors.

Privia Health Group Stock Performance

Shares of Privia Health Group stock opened at $20.79 on Monday. The firm has a market capitalization of $2.66 billion, a PE ratio of 99.00, a price-to-earnings-growth ratio of 1.64 and a beta of 0.85. The business's 50-day moving average price is $24.33 and its 200-day moving average price is $23.19. Privia Health Group has a 12 month low of $19.53 and a 12 month high of $28.82.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.12. The company had revenue of $632.63 million during the quarter, compared to the consensus estimate of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.Privia Health Group's quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, analysts predict that Privia Health Group will post 0.27 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source