Privia Health Group (NASDAQ:PRVA) Announces Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Privia Health Group (NASDAQ:PRVA) issued its quarterly earnings data on Thursday. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.23, Briefing.com reports. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%.The firm had revenue of $580.42 million during the quarter, compared to analyst estimates of $494.98 million. During the same quarter last year, the business posted $0.20 earnings per share. The business’s quarterly revenue was up 32.5% compared to the same quarter last year. Privia Health Group updated its FY 2025 guidance to EPS.

Privia Health Group Stock Performance

PRVA stock traded down $0.55 during midday trading on Friday, reaching $23.43. The stock had a trading volume of 1,382,680 shares, compared to its average volume of 791,019. Privia Health Group has a 52-week low of $18.77 and a 52-week high of $26.51. The stock has a market cap of $2.88 billion, a PE ratio of 180.24, a P/E/G ratio of 3.27 and a beta of 0.83. The firm has a fifty day simple moving average of $24.15 and a two-hundred day simple moving average of $22.77.

Institutional Investors Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Privia Health Group by 63.5% during the first quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock worth $5,514,000 after acquiring an additional 95,371 shares during the period. AQR Capital Management LLC raised its holdings in Privia Health Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $916,000 after purchasing an additional 8,068 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Privia Health Group by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,764 shares of the company’s stock worth $2,666,000 after purchasing an additional 3,714 shares in the last quarter. Intech Investment Management LLC grew its holdings in Privia Health Group by 55.1% in the first quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock valued at $1,270,000 after purchasing an additional 20,082 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Privia Health Group in the first quarter valued at approximately $154,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRVA has been the topic of several analyst reports. Barclays boosted their price objective on Privia Health Group from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 9th. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Stephens reiterated an “overweight” rating and set a $32.00 target price on shares of Privia Health Group in a research report on Wednesday, September 24th. Citigroup restated an “outperform” rating on shares of Privia Health Group in a research note on Friday, August 29th. Finally, Citizens Jmp increased their price target on Privia Health Group from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research report on Friday. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.25.

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.