Privia Health Group, Inc. (NASDAQ:PRVA) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Privia Health Group has a “Moderate Buy” consensus rating from 14 brokerages, with 11 buys and three holds. Analysts’ average 12-month price target is $31.00, above the stock’s reported price of $22.44.
• Institutional investors own 94.48% of the company, with several funds increasing their positions during the third quarter, including Fort Washington Investment Advisors, which raised its holdings by 65.1%.
• Privia exceeded quarterly expectations, reporting adjusted earnings of $0.19 per share versus $0.07 expected and revenue of $632.63 million, up 21.4% year over year.

Shares of Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $31.00.

A number of research firms recently issued reports on PRVA. 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. Citigroup reissued a "buy" rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Privia Health Group in a report on Tuesday, September 29th. Finally, Canaccord Genuity Group set a $32.00 price target on shares of Privia Health Group in a report on Friday, August 7th.

Hedge Funds Weigh In On Privia Health Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Counterpoint Mutual Funds LLC grew its position in Privia Health Group by 69.5% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 23,787 shares of the company's stock valued at $468,000 after purchasing an additional 9,751 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in Privia Health Group by 65.1% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,739,427 shares of the company's stock worth $34,249,000 after buying an additional 686,156 shares during the last quarter. GAMMA Investing LLC raised its holdings in Privia Health Group by 33.5% during the third quarter. GAMMA Investing LLC now owns 6,432 shares of the company's stock worth $127,000 after buying an additional 1,613 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in Privia Health Group by 68.6% during the third quarter. Central Pacific Bank Trust Division now owns 11,801 shares of the company's stock worth $232,000 after buying an additional 4,800 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Privia Health Group during the second quarter worth $505,000. Institutional investors own 94.48% of the company's stock.

Privia Health Group Trading Down 0.4%

NASDAQ PRVA opened at $22.44 on Tuesday. The firm has a market capitalization of $2.87 billion, a PE ratio of 106.86 and a beta of 0.80. The business's 50-day moving average price is $20.75 and its two-hundred day moving average price is $22.80. Privia Health Group has a 12 month low of $18.92 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, beating analysts' consensus estimates of $0.07 by $0.12. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The business had revenue of $632.63 million during the quarter, compared to the consensus estimate of $597.33 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The company's revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, analysts forecast that Privia Health Group will post 0.27 earnings per share for the current fiscal year.

Privia Health Group Company Profile

Privia Health Group, Inc is a physician-enablement company that supports independent medical practices through technology, administrative services and value-based care programs. The company partners with physicians and medical groups to help them manage clinical operations, improve patient outcomes and participate in alternative payment arrangements with health insurers and employers.

Its platform includes practice management and electronic health record tools, data analytics, population health management, care coordination, revenue cycle support, payer contracting and centralized administrative services.

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