Privia Health Group (NASDAQ:PRVA) Rating Increased to Moderate Buy at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Privia Health Group (NASDAQ:PRVA) to a moderate buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Privia Health Group from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Citizens Jmp lifted their target price on shares of Privia Health Group from $30.00 to $31.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. Barclays upped their price target on shares of Privia Health Group from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. BMO Capital Markets initiated coverage on Privia Health Group in a research report on Thursday, November 13th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Canaccord Genuity Group boosted their price objective on Privia Health Group from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Privia Health Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Privia Health Group Price Performance

Shares of NASDAQ:PRVA opened at $23.04 on Thursday. The business has a 50-day moving average of $23.95 and a two-hundred day moving average of $22.96. The firm has a market capitalization of $2.83 billion, a PE ratio of 177.24, a P/E/G ratio of 1.63 and a beta of 0.83. Privia Health Group has a 12 month low of $18.77 and a 12 month high of $26.51.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Tuesday, June 7th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $213.61 million during the quarter. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%. As a group, research analysts anticipate that Privia Health Group will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Matthew Shawn Morris sold 13,647 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.01, for a total value of $341,311.47. Following the transaction, the director owned 68,188 shares in the company, valued at approximately $1,705,381.88. The trade was a 16.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David Mountcastle sold 23,887 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $25.03, for a total value of $597,891.61. Following the completion of the transaction, the chief financial officer directly owned 172,909 shares of the company’s stock, valued at $4,327,912.27. This represents a 12.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently bought and sold shares of PRVA. Advantage Alpha Capital Partners LP bought a new stake in shares of Privia Health Group in the second quarter worth $3,941,000. Hsbc Holdings PLC grew its holdings in Privia Health Group by 69.2% during the 2nd quarter. Hsbc Holdings PLC now owns 113,718 shares of the company’s stock worth $2,549,000 after acquiring an additional 46,526 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Privia Health Group in the 2nd quarter worth about $2,209,000. Strs Ohio bought a new stake in shares of Privia Health Group in the 1st quarter worth about $849,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Privia Health Group by 9.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 62,406 shares of the company’s stock valued at $1,435,000 after purchasing an additional 5,223 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Company Profile

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.