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

Key Points

• Privia Health Group has a consensus analyst rating of “Moderate Buy”, with 11 buy ratings and 3 hold ratings across 14 firms. The average 12-month price target is about $31.15.
• The company’s latest quarterly results beat expectations, with EPS of $0.19 versus the $0.08 estimate and revenue of $603.85 million topping forecasts. Revenue rose 25.8% year over year.
• There has also been notable insider selling, including transactions by a director and the CFO, while 94.48% of shares are held by institutional investors and hedge funds.

Shares of Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $31.1538.

A number of brokerages have recently issued reports on PRVA. Weiss Ratings cut Privia Health Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 8th. Canaccord Genuity Group reduced 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. Evercore set a $26.00 price objective on Privia Health Group in a research note on Wednesday, April 8th. Jefferies Financial Group reaffirmed a "buy" rating and set a $32.00 price objective on shares of Privia Health Group in a research note on Thursday, February 26th. Finally, Citigroup reduced 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 other news, Director Matthew Shawn Morris sold 1,017 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $24.96, for a total transaction of $25,384.32. Following the completion of the sale, the director directly owned 68,188 shares in the company, valued at approximately $1,701,972.48. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 3,385 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $22.60, for a total transaction of $76,501.00. Following the sale, the chief financial officer owned 211,462 shares of the company's stock, valued at approximately $4,779,041.20. This represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 156,535 shares of company stock worth $3,586,903. Company insiders own 5.70% of the company's stock.

Institutional Trading of Privia Health Group

Institutional investors have recently modified their holdings of the company. Bayban purchased a new stake in shares of Privia Health Group during the fourth quarter worth about $26,000. Hantz Financial Services Inc. lifted 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 worth $27,000 after buying an additional 926 shares during the period. Global Retirement Partners LLC lifted its holdings in Privia Health Group by 579.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,584 shares of the company's stock worth $38,000 after buying an additional 1,351 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Privia Health Group by 48.0% in the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company's stock worth $85,000 after buying an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Privia Health Group in the fourth quarter worth about $93,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Trading Up 2.2%

Shares of NASDAQ:PRVA opened at $23.53 on Wednesday. The stock's 50-day moving average price is $22.95 and its 200-day moving average price is $22.94. Privia Health Group has a 12-month low of $18.77 and a 12-month high of $26.51. The stock has a market capitalization of $2.97 billion, a P/E ratio of 147.07, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.19 earnings per share (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 analysts' expectations of $560.99 million. During the same period last year, the firm earned $0.22 earnings per share. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, research analysts predict that Privia Health Group will post 0.29 EPS for the current year.

About Privia Health Group

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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