Privia Health Group (NASDAQ:PRVA) Hits New 1-Year High – Time to Buy?

Privia Health Group, Inc. (NASDAQ:PRVA) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.62 and last traded at $23.38, with a volume of 60834 shares trading hands. The stock had previously closed at $23.17.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PRVA shares. Truist Financial boosted their price objective on shares of Privia Health Group from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays upped their price target on Privia Health Group from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Stephens reissued an “overweight” rating and issued a $26.00 target price on shares of Privia Health Group in a report on Thursday, January 2nd. Macquarie began coverage on Privia Health Group in a research report on Monday, December 16th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, KeyCorp assumed coverage on shares of Privia Health Group in a research note on Friday, October 11th. They issued an “overweight” rating and a $23.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Privia Health Group presently has a consensus rating of “Buy” and a consensus target price of $24.88.

Privia Health Group Stock Up 1.3 %

The stock has a fifty day moving average of $21.27 and a two-hundred day moving average of $20.02. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 234.62, a PEG ratio of 3.09 and a beta of 0.87.

Hedge Funds Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Privia Health Group by 1.5% during the third quarter. FMR LLC now owns 18,169,043 shares of the company’s stock valued at $330,858,000 after purchasing an additional 271,645 shares during the period. Riverbridge Partners LLC increased its stake in Privia Health Group by 19.7% during the 4th quarter. Riverbridge Partners LLC now owns 5,824,458 shares of the company’s stock worth $113,868,000 after buying an additional 958,418 shares during the period. Geode Capital Management LLC boosted its position in Privia Health Group by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,415,022 shares of the company’s stock valued at $43,986,000 after buying an additional 23,178 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Privia Health Group by 2.2% during the third quarter. Franklin Resources Inc. now owns 1,300,240 shares of the company’s stock valued at $23,092,000 after acquiring an additional 28,480 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Privia Health Group by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,224 shares of the company’s stock worth $19,380,000 after acquiring an additional 65,152 shares during the last quarter. 94.48% of the stock is 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.