Privia Health Group, Inc. (NASDAQ:PRVA) Stock Has Consensus Price Target of $31.00 According to Analysts

Privia Health Group, Inc. (NASDAQ:PRVA) has received an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.00.

A number of equities analysts have recently commented on the company. Zacks Research upgraded Privia Health Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Canaccord Genuity Group set a $32.00 target price on Privia Health Group in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a research report on Tuesday, September 29th. Finally, Citigroup reissued a “buy” rating on shares of Privia Health Group in a research report on Thursday, July 23rd.

Institutional Investors Weigh In On Privia Health Group

Several institutional investors have recently bought and sold shares of PRVA. BlackRock Inc. acquired a new stake in shares of Privia Health Group in the second quarter worth $550,684,000. Rubicon Founders LLC purchased a new position in shares of Privia Health Group in the 2nd quarter valued at $153,635,863. Bank of New York Mellon Corp acquired a new position in shares of Privia Health Group during the 2nd quarter valued at $74,425,000. Wellington Management Group LLP lifted its holdings in shares of Privia Health Group by 850.6% during the 2nd quarter. Wellington Management Group LLP now owns 2,130,289 shares of the company’s stock valued at $54,812,000 after acquiring an additional 1,906,187 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Privia Health Group during the 2nd quarter valued at $36,848,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Stock Down 1.1%

Shares of NASDAQ PRVA opened at $22.16 on Tuesday. The stock has a market capitalization of $2.83 billion, a PE ratio of 105.53 and a beta of 0.80. The firm has a fifty day moving average of $20.85 and a 200-day moving average of $22.69. Privia Health Group has a 52-week low of $18.92 and a 52-week high of $28.82.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%. The business had revenue of $632.63 million for the quarter, compared to analyst estimates of $597.33 million. During the same period last year, the company posted $0.24 EPS. The business’s quarterly revenue was up 21.4% on a year-over-year basis. Equities research analysts expect that Privia Health Group will post 0.27 EPS for the current fiscal year.

About Privia Health Group

Privia Health Group, Inc is a physician-enablement company that partners with independent medical practices to support the delivery of coordinated, value-based care. The company provides an integrated platform designed to help physicians manage clinical, administrative and financial functions while maintaining ownership and control of their practices.

Its services include practice management, electronic health record and technology support, revenue-cycle management, payer contracting, population-health analytics, care-management programs and administrative assistance.