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

Key Points

• Privia Health Group has a consensus analyst rating of “Moderate Buy”, with 11 buy ratings and 3 hold ratings among 14 analysts. The average 12-month price target is about $31.23.
• The company’s latest quarterly results beat expectations, posting $0.19 EPS versus the $0.08 estimate and revenue of $603.85 million, up 25.8% year over year.
• Insiders recently sold shares, including CEO Parth Mehrotra and Director Matthew Shawn Morris, with insiders selling a total of 398,726 shares worth about $9.1 million over the last three months.

Shares of Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the fourteen analysts 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 price objective among brokerages that have updated their coverage on the stock in the last year is $31.2308.

A number of research analysts have recently issued reports on PRVA shares. Evercore set a $26.00 price objective on Privia Health Group in a research note on Wednesday, April 8th. Truist Financial boosted their price objective on Privia Health Group from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Canaccord Genuity Group dropped their price objective on Privia Health Group from $35.00 to $34.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group reissued a "buy" rating and issued a $32.00 price objective on shares of Privia Health Group in a research note on Thursday, February 26th. Finally, Citigroup dropped their price objective on Privia Health Group from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd.

Insider Transactions at Privia Health Group

In related news, CEO Parth Mehrotra sold 105,439 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $22.55, for a total transaction of $2,377,649.45. Following the transaction, the chief executive officer directly owned 450,004 shares of the company's stock, valued at approximately $10,147,590.20. This represents a 18.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Matthew Shawn Morris sold 17,096 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $24.99, for a total value of $427,229.04. Following the transaction, the director directly owned 68,188 shares in the company, valued at approximately $1,704,018.12. This trade represents a 20.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 398,726 shares of company stock worth $9,107,491 over the last three months. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Alliance LLC raised its stake in Privia Health Group by 4.4% during the 3rd quarter. Wealth Alliance LLC now owns 11,979 shares of the company's stock worth $298,000 after buying an additional 508 shares during the period. Arizona State Retirement System raised its stake in Privia Health Group by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 28,835 shares of the company's stock worth $718,000 after buying an additional 524 shares during the period. Illinois Municipal Retirement Fund raised its stake in Privia Health Group by 1.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 55,501 shares of the company's stock worth $1,382,000 after buying an additional 585 shares during the period. PNC Financial Services Group Inc. raised its stake in Privia Health Group by 9.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,731 shares of the company's stock worth $193,000 after buying an additional 675 shares during the period. Finally, Truist Financial Corp raised its stake in Privia Health Group by 4.6% during the 3rd quarter. Truist Financial Corp now owns 17,634 shares of the company's stock worth $439,000 after buying an additional 783 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

Privia Health Group Trading Up 0.7%

NASDAQ PRVA opened at $22.79 on Friday. The business's 50-day moving average price is $22.63 and its two-hundred day moving average price is $23.15. Privia Health Group has a 12 month low of $18.77 and a 12 month high of $26.51. The firm has a market capitalization of $2.87 billion, a PE ratio of 142.45, a price-to-earnings-growth ratio of 1.82 and a beta of 0.96.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.11. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The firm had revenue of $603.85 million for the quarter, compared to analyst estimates of $560.99 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business's revenue was up 25.8% on a year-over-year basis. As a group, analysts forecast that Privia Health Group will post 0.32 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.

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