Privia Health Group, Inc. (NASDAQ:PRVA) Given Average Recommendation of “Buy” by Analysts

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have earned an average recommendation of “Buy” from the sixteen analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.73.

A number of analysts have recently issued reports on PRVA shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 price target on shares of Privia Health Group in a report on Wednesday, August 14th. KeyCorp assumed coverage on shares of Privia Health Group in a report on Friday, October 11th. They set an “overweight” rating and a $23.00 price target on the stock. Robert W. Baird raised their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. Finally, Evercore ISI dropped their price objective on shares of Privia Health Group from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th.

Privia Health Group Stock Down 2.0 %

Shares of NASDAQ PRVA opened at $18.36 on Friday. The firm’s 50-day moving average price is $18.45 and its 200-day moving average price is $18.26. The company has a market cap of $2.20 billion, a PE ratio of 153.00, a PEG ratio of 4.01 and a beta of 0.76. Privia Health Group has a 52-week low of $15.92 and a 52-week high of $24.35.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $422.30 million for the quarter, compared to analysts’ expectations of $411.50 million. Privia Health Group had a net margin of 0.88% and a return on equity of 2.42%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. As a group, equities research analysts anticipate that Privia Health Group will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Privia Health Group news, CEO Parth Mehrotra sold 135,142 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.50, for a total transaction of $2,500,127.00. Following the sale, the chief executive officer now owns 247,771 shares in the company, valued at approximately $4,583,763.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Privia Health Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRVA. First Light Asset Management LLC bought a new stake in shares of Privia Health Group during the first quarter valued at approximately $21,620,000. Millennium Management LLC raised its position in shares of Privia Health Group by 2,994.2% during the second quarter. Millennium Management LLC now owns 1,138,526 shares of the company’s stock valued at $19,788,000 after buying an additional 1,101,730 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Privia Health Group by 2.5% during 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 during the last quarter. BlackBarn Capital Partners LP raised its position in shares of Privia Health Group by 100.0% during the second quarter. BlackBarn Capital Partners LP now owns 400,000 shares of the company’s stock valued at $6,952,000 after buying an additional 200,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Privia Health Group by 18.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,118,619 shares of the company’s stock valued at $19,441,000 after buying an additional 173,934 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

About Privia Health Group

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.