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

Key Points

• "Moderate Buy" consensus from 14 analysts (11 buy, 3 hold) with an average 1‑year price target of $31.31.
• Most recent quarter beat expectations—EPS $0.25 vs. $0.04 estimate and revenue $541.17M (vs. $516.61M), with revenue up 17.4% year‑over‑year.
• Insiders sold 247,757 shares (~$5.64M) in the last three months; insiders own 5.70% of the stock while institutional investors own 94.48%.

Shares of Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $31.3077.

PRVA has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Privia Health Group from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 25th. Wolfe Research set a $31.00 price objective on shares of Privia Health Group in a research report on Tuesday, January 6th. Evercore set a $26.00 price objective on shares of Privia Health Group in a research report on Wednesday, April 8th. Truist Financial upped their price objective on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Privia Health Group in a research report on Friday, March 27th.

Privia Health Group Stock Performance

Shares of PRVA stock opened at $24.41 on Tuesday. Privia Health Group has a 52-week low of $18.77 and a 52-week high of $26.51. The company has a 50-day simple moving average of $22.42 and a two-hundred day simple moving average of $23.36. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 143.59, a PEG ratio of 1.49 and a beta of 0.87.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.21. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. The business had revenue of $541.17 million during the quarter, compared to the consensus estimate of $516.61 million. During the same period in the prior year, the firm posted $0.21 EPS. The firm's quarterly revenue was up 17.4% compared to the same quarter last year. On average, sell-side analysts forecast that Privia Health Group will post 0.37 EPS for the current fiscal year.

Insider Activity

In other news, CFO David Mountcastle sold 7,697 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $25.05, for a total transaction of $192,809.85. Following the completion of the transaction, the chief financial officer directly owned 172,909 shares of the company's stock, valued at $4,331,370.45. This represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Parth Mehrotra sold 41,999 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $22.86, for a total transaction of $960,097.14. Following the transaction, the chief executive officer directly owned 343,795 shares of the company's stock, valued at $7,859,153.70. This represents a 10.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 247,757 shares of company stock valued at $5,636,639 in the last three months. Company insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRVA. Van Berkom & Associates Inc. grew its position in shares of Privia Health Group by 30.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company's stock valued at $93,987,000 after acquiring an additional 873,344 shares during the period. Vanguard Group Inc. grew its position in shares of Privia Health Group by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company's stock valued at $301,263,000 after acquiring an additional 607,447 shares during the period. ArrowMark Colorado Holdings LLC grew its position in shares of Privia Health Group by 139.4% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company's stock valued at $19,946,000 after acquiring an additional 489,866 shares during the period. Algert Global LLC grew its position in shares of Privia Health Group by 277.4% during the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company's stock valued at $12,059,000 after acquiring an additional 355,966 shares during the period. Finally, Freestone Grove Partners LP grew its position in shares of Privia Health Group by 40.6% during the 4th quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company's stock valued at $28,768,000 after acquiring an additional 350,194 shares during the period. 94.48% of the stock is owned by institutional investors.

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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