Privia Health Group, Inc. (NASDAQ:PRVA) Receives $27.62 Average Price Target from Analysts

Privia Health Group, Inc. (NASDAQ:PRVA) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.58.

Several equities research analysts have commented on PRVA shares. Barclays initiated coverage on Privia Health Group in a report on Wednesday, March 6th. They set an “equal weight” rating and a $22.00 target price for the company. Truist Financial decreased their price objective on Privia Health Group from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. UBS Group dropped their target price on shares of Privia Health Group from $31.00 to $29.00 and set a “buy” rating for the company in a report on Friday, March 1st. Bank of America downgraded shares of Privia Health Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $21.00 in a research note on Thursday, February 22nd. Finally, Jefferies Financial Group began coverage on shares of Privia Health Group in a research report on Monday, February 26th. They set a “buy” rating and a $25.00 price target on the stock.

Privia Health Group Stock Performance

Shares of NASDAQ PRVA opened at $18.74 on Friday. The firm has a fifty day moving average of $19.62 and a 200 day moving average of $21.09. The firm has a market cap of $2.22 billion, a PE ratio of 98.64, a PEG ratio of 2.56 and a beta of 0.81. Privia Health Group has a one year low of $17.54 and a one year high of $30.15.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Tuesday, February 27th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The company had revenue of $440.80 million for the quarter, compared to analysts’ expectations of $425.81 million. During the same period in the prior year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities analysts predict that Privia Health Group will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO David Mountcastle sold 3,933 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total value of $69,889.41. Following the completion of the sale, the chief financial officer now owns 262,279 shares of the company’s stock, valued at approximately $4,660,697.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Parth Mehrotra sold 12,219 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total transaction of $225,073.98. Following the completion of the sale, the chief executive officer now directly owns 261,640 shares of the company’s stock, valued at approximately $4,819,408.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Mountcastle sold 3,933 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total transaction of $69,889.41. Following the completion of the transaction, the chief financial officer now directly owns 262,279 shares in the company, valued at approximately $4,660,697.83. The disclosure for this sale can be found here. Insiders have sold 31,783 shares of company stock valued at $582,886 over the last ninety days. Company insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

A number of institutional investors have recently made changes to their positions in PRVA. Norges Bank purchased a new position in shares of Privia Health Group during the 4th quarter worth approximately $27,959,000. Riverbridge Partners LLC lifted its stake in Privia Health Group by 17.5% during the first quarter. Riverbridge Partners LLC now owns 5,399,662 shares of the company’s stock worth $105,779,000 after purchasing an additional 804,304 shares in the last quarter. Avidity Partners Management LP boosted its position in shares of Privia Health Group by 43.1% during the third quarter. Avidity Partners Management LP now owns 1,545,100 shares of the company’s stock worth $35,537,000 after buying an additional 465,294 shares during the period. Northern Trust Corp boosted its position in shares of Privia Health Group by 28.7% during the third quarter. Northern Trust Corp now owns 1,344,327 shares of the company’s stock worth $30,920,000 after buying an additional 299,395 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Privia Health Group by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company’s stock valued at $259,740,000 after buying an additional 274,345 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Privia Health Group Company Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.