Privia Health Group (NASDAQ:PRVA) Sets New 52-Week High – Should You Buy?

Privia Health Group, Inc. (NASDAQ:PRVA)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $27.70 and last traded at $27.32, with a volume of 22161 shares trading hands. The stock had previously closed at $27.19.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Evercore set a $26.00 price target on Privia Health Group in a report on Wednesday, April 8th. Canaccord Genuity Group reduced their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings raised shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Barclays lowered their target price on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.15.

Privia Health Group Stock Up 0.7%

The company’s 50-day moving average price is $23.53 and its 200-day moving average price is $23.04. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 171.17, a PEG ratio of 2.16 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last announced its earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.11. The firm had revenue of $603.85 million for the quarter, compared to the consensus estimate of $560.99 million. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. During the same period in the prior year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, sell-side analysts predict that Privia Health Group, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity at Privia Health Group

In related news, CFO David Mountcastle sold 17,196 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $25.18, for a total transaction of $432,995.28. Following the completion of the transaction, the chief financial officer directly owned 211,462 shares of the company’s stock, valued at $5,324,613.16. The trade was a 7.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 105,439 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $22.55, for a total value of $2,377,649.45. Following the sale, the chief executive officer owned 450,004 shares in the company, valued at approximately $10,147,590.20. This trade represents a 18.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 319,487 shares of company stock worth $7,736,834. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Privia Health Group

Several hedge funds have recently added to or reduced their stakes in the company. Alpine Woods Capital Investors LLC purchased a new stake in shares of Privia Health Group during the 1st quarter worth approximately $231,000. Edgestream Partners L.P. purchased a new stake in shares of Privia Health Group in the 1st quarter valued at about $2,847,000. Amundi lifted its holdings in shares of Privia Health Group by 188.0% in the 1st quarter. Amundi now owns 25,454 shares of the company’s stock valued at $524,000 after purchasing an additional 16,617 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Privia Health Group by 67.6% in the 1st quarter. Quantinno Capital Management LP now owns 32,707 shares of the company’s stock valued at $673,000 after purchasing an additional 13,189 shares during the period. Finally, Weiss Asset Management LP purchased a new position in Privia Health Group during the 1st quarter worth approximately $553,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Privia Health Group

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.