Privia Health Group, a leading national physician-enablement company in the United States, has recently been in the spotlight for receiving an average recommendation of “Buy” from the seventeen research firms currently covering the company. This news comes as no surprise to many investors and analysts alike, given Privia’s commendable performance in recent years.
According to Bloomberg.com’s analysis, twelve of the seventeen research firms have rated Privia’s stock with a “buy” rating. Such an overwhelming consensus among financial experts reflects Privia’s growing dominance in the healthcare industry. Moreover, brokers that have covered the stock in the last year projected an average twelve-month target price of $39.19, attesting to their confidence in its future growth prospects.
On May 4th, Privia Health Group released its quarterly earnings report which showed that they had exceeded analysts’ estimates for their earnings per share by $0.03. The company reported earnings per share of $0.06 and a net margin of 1.14%. Additionally, they revealed revenue figures of $386.28 million during that period – exceeding market expectations by roughly $8 million.
As a physician-enablement company, Privia Health Group is dedicated to optimizing physician practices, enhancing patient experiences and rewarding doctors for delivering care both virtually and in-person settings. Their innovative strategies and approaches have helped medical groups, health plans and health systems across the country transform their businesses.
Overall, Privia Health Group has clearly established itself as one of the key players in the healthcare industry and has garnered substantial investor confidence through its impressive financial results over time. With current projections indicating additional growth opportunities ahead for this fast-growing organization, it is clear why so many investors continue to hold on tight to their shares despite uncertainties brought about by external factors such as pandemics and economic instability in other sectors worldwide.
Privia Health Group Receives Positive Attention from Analysts and Investors with Focus on Patient Outcomes
Privia Health Group, Inc. is a physician-enablement company that operates nationwide in the United States, collaborating with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and provide care both in-person and virtually. The company’s focus on optimizing patient outcomes has drawn attention from a variety of equities analysts who recently commented on the stock.
Evercore ISI assumed coverage on shares of Privia Health Group last Monday, setting an “outperform” rating for the company. Their rating was supported by other analysts such as SVB Securities whose target price increased from $39.00 to $40.00 in a research note issued on Friday 5th May. Stephens also rated the company as “overweight”, issuing a $33.00 target price for the company in their report published on Tuesday 11th April.
Royal Bank of Canada commenced coverage of shares in Privia Health Group earlier this year on Thursday 9th March, awarding them an “outperform” rating with a $36.00 target price for the company; this was reiterated by Credit Suisse Group who restated an “outperform” rating just four days later on Tuesday 7th March while issuing a $41.00 price objective.
Shares of Privia Health Group opened at $28.30 last Tuesday and have experienced some fluctuations with their previous high point seen at $44.64 over the past year and low seen at $20.64 within that same time frame – with current figures determining its market capitalization stands at approximately $3.27 billion and having achieved PE ratios of 257:27 with PEG ratios standing around 3:50.
Privia Health Group has recently received much attention not only from industry experts but also from large investors who have either added to or reduced their stakes in the business. One such institution is Signaturefd LLC which acquired new stakes in shares of Privia Health Group, a value pegged at approximately $32,000 in Q3 2020. Similarly, HighMark Wealth Management LLC raised its position by 46.1% in the first quarter of this year and now holds over 1,315 shares; Focused Wealth Management Inc made similar moves in the fourth quarter valued at approximately $41,000.
Insiders have also been noted to make significant moves of late with COO Parth Mehrotra having sold 91,605 shares of the stock in a transaction dated Friday, June 9th for an average price of $28.36 per share followed by CFO David Mountcastle who similarly sold 1,720 shares of the stock on Monday May 1st for a total transaction value of $47,437.60 – following this sale Mountcastle holds over 152k shares in the company valued at approximately $4.2 million.
Altogether we can see how Priva Health Group is steadily gaining popularity within its market both from respected analysts as well as notable investors. The focus on optimizing patient outcomes has indeed paid off well for them and if insider sales are indicative of their confidence then there is much reason to believe that they may continue to prosper moving forward.
The post Privia Health Group Receives Overwhelming ‘Buy’ Recommendation from 17 Research Firms, Demonstrating Strong Performance in Healthcare Industry appeared first on Best Stocks.
