Key Points
- Privia Health Group director Matthew Shawn Morris sold 63,212 shares on June 29 at an average price of $25.33, totaling about $1.6 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Morris has also sold additional Privia shares recently, including 88,110 shares on June 26 and smaller sales in May, reducing his ownership by 45.20% after the latest transaction.
- Privia Health Group reported strong quarterly results, with EPS of $0.19 beating estimates and revenue rising 25.8% year over year to $603.85 million. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $31.15.
Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) CFO David Mountcastle sold 17,196 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 211,462 shares of the company's stock, valued at $5,324,613.16. This trade represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Mountcastle also recently made the following trade(s):
- On Monday, May 11th, David Mountcastle sold 3,385 shares of Privia Health Group stock. The shares were sold at an average price of $22.60, for a total transaction of $76,501.00.
- On Monday, May 4th, David Mountcastle sold 1,206 shares of Privia Health Group stock. The shares were sold at an average price of $25.00, for a total transaction of $30,150.00.
- On Friday, May 1st, David Mountcastle sold 7,179 shares of Privia Health Group stock. The stock was sold at an average price of $25.03, for a total transaction of $179,690.37.
- On Thursday, April 2nd, David Mountcastle sold 5,566 shares of Privia Health Group stock. The shares were sold at an average price of $20.85, for a total transaction of $116,051.10.
Privia Health Group Trading Up 0.7%
NASDAQ PRVA opened at $25.73 on Wednesday. Privia Health Group, Inc. has a 1-year low of $18.77 and a 1-year high of $26.51. The firm's fifty day simple moving average is $23.25 and its 200-day simple moving average is $22.96. The company has a market capitalization of $3.24 billion, a PE ratio of 160.82, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90.
Privia Health Group (NASDAQ:PRVA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.11. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The firm had revenue of $603.85 million during the quarter, compared to analysts' expectations of $560.99 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, analysts predict that Privia Health Group, Inc. will post 0.27 EPS for the current year.
Hedge Funds Weigh In On Privia Health Group
Institutional investors have recently made changes to their positions in the business. Durable Capital Partners LP lifted its position in shares of Privia Health Group by 1.8% during the 3rd quarter. Durable Capital Partners LP now owns 11,691,685 shares of the company's stock worth $291,123,000 after purchasing an additional 203,842 shares during the last quarter. State Street Corp increased its position in Privia Health Group by 1.5% in the 2nd quarter. State Street Corp now owns 4,171,069 shares of the company's stock worth $95,935,000 after buying an additional 61,853 shares during the period. Van Berkom & Associates Inc. increased its position in Privia Health Group by 5.4% in the 1st quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company's stock worth $83,371,000 after buying an additional 208,787 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Privia Health Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company's stock worth $66,738,000 after buying an additional 31,204 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Privia Health Group by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,787,802 shares of the company's stock worth $66,099,000 after buying an additional 43,589 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently commented on PRVA. Evercore set a $26.00 price objective on Privia Health Group in a report on Wednesday, April 8th. Canaccord Genuity Group cut their target price on Privia Health Group from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Citigroup reduced their price target on Privia Health Group from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings lowered Privia Health Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 8th. Finally, Barclays cut their price objective on Privia Health Group from $25.00 to $24.00 and set an "equal weight" rating on the stock 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 company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.15.
Get Our Latest Report on Privia Health Group
Privia Health Group Company Profile
(
Get Free Report)
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.
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