Privia Health Group, Inc.
- Open
- 27.70
- Day high
- 28.30
- Day low
- 27.51
- Prev close
- 27.89
- Volume
- 1.0M
- Mkt cap
- $3.5B
- P/E (TTM)
- 158.5
- EPS (TTM)
- $0.18
- P/B
- 4.7
- P/S
- 1.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$13.4M over the last 3 months (0 open-market buys, 17 sales)
- 🏛Institutions accumulating (13F)
Privia Health Group, Inc. (PRVA) is a Healthcare company listed on NASDAQ. The stock is up 34% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 17 sales (SEC Form 4).
Privia Health Group, Inc. (PRVA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PRVA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.08 | $0.02 | -75.0% | $604M | +7.6% |
| Feb 26, 2026 | $0.04 | $0.07 | +75.0% | $541M | -0.8% |
| Nov 6, 2025 | $0.06 | $0.05 | -16.7% | $580M | +12.4% |
| Aug 7, 2025 | $0.05 | $0.02 | -60.0% | $521M | +7.3% |
| May 8, 2025 | $0.06 | $0.03 | -50.0% | $480M | +4.7% |
| Feb 27, 2025 | $0.05 | $0.03 | -40.0% | $461M | -4.1% |
| Nov 7, 2024 | $0.05 | $0.03 | -40.0% | $438M | +4.1% |
| Aug 8, 2024 | $0.05 | $0.03 | -40.0% | $422M | -40.2% |
| May 9, 2024 | $0.05 | $0.02 | -60.0% | $415M | -41.0% |
| Feb 27, 2024 | $0.04 | $0.02 | -52.7% | $441M | -39.7% |
| Nov 3, 2023 | $0.05 | $0.05 | +0.0% | $417M | -42.9% |
| Aug 3, 2023 | $0.06 | $0.06 | +0.0% | $413M | -39.7% |
PRVA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 13, 2026 | Mountcastle Davidofficer: EVP & Chief Financial Officer | Sell | 21,275 | $27.67 |
| Jul 9, 2026 | Mountcastle Davidofficer: EVP & Chief Financial Officer | Sell | 600 | $27.57 |
| Jul 7, 2026 | Morris Matthew Shawndirector | Option | 59,037 | $2.00 |
| Jul 7, 2026 | Morris Matthew Shawndirector | Sell | 59,037 | $27.33 |
| Jul 7, 2026 | Morris Matthew Shawndirector | Option | 53,722 | $2.00 |
| Jul 7, 2026 | Morris Matthew Shawndirector | Sell | 53,722 | $27.24 |
| Jul 7, 2026 | Mountcastle Davidofficer: EVP & Chief Financial Officer | Sell | 24,734 | $27.50 |
| Jul 2, 2026 | Morris Matthew Shawndirector | Option | 52,823 | $2.00 |
| Jul 2, 2026 | Morris Matthew Shawndirector | Sell | 45,634 | $26.52 |
| Jul 2, 2026 | Morris Matthew Shawndirector | Option | 82,675 | $2.00 |
| Jul 2, 2026 | Morris Matthew Shawndirector | Sell | 37,041 | $26.93 |
| Jul 2, 2026 | Morris Matthew Shawndirector | Sell | 52,823 | $25.72 |
| Jun 30, 2026 | Mountcastle Davidofficer: EVP & Chief Financial Officer | Option | 8,897 | $2.00 |
| Jun 30, 2026 | Morris Matthew Shawndirector | Option | 88,110 | $2.00 |
| Jun 30, 2026 | Morris Matthew Shawndirector | Sell | 63,212 | $25.33 |
Source: PRVA SEC Form 4 filings, latest Jul 13, 2026. For informational purposes only — not investment advice.
See the full PRVA insider & 13F page →Privia Health Group, Inc. company profile
Overview
Privia Health Group, Inc. (NASDAQ:PRVA) is a national physician-enablement company that operates as a comprehensive healthcare services platform in the United States. Founded in 2007 and headquartered in Arlington, Virginia, the company went public in April 2021. Privia partners with independent physician practices, medical groups, health plans, and health systems to transform traditional fee-for-service healthcare delivery into value-based care models. The company has grown from a regional player to a national platform serving over 4,800 providers across 14 states and Washington D.C., managing care for approximately 1.27 million attributed lives through its integrated technology and management services platform.
Business
Privia Health operates in the healthcare information services sector, specifically focusing on physician enablement and value-based care transformation. The company's core business revolves around helping independent physician practices transition from traditional fee-for-service models to value-based care arrangements, where providers are compensated based on patient outcomes and cost efficiency rather than volume of services delivered. **Core Platform Components:** 1. **Technology and Population Health Tools** - Privia provides comprehensive electronic health record systems, data analytics platforms, and clinical decision support tools that integrate deeply into physician workflows. These tools help providers track patient outcomes, manage chronic conditions, and coordinate care across multiple specialties. 2. **Management Services Organization (MSO)** - The company handles administrative functions including billing, credentialing, compliance, and practice management, allowing physicians to focus on patient care rather than paperwork. This represents the largest revenue segment, generating approximately 85-90% of total revenue. 3. **Single-TIN Medical Groups** - Privia consolidates multiple independent practices under single tax identification numbers, which facilitates better negotiating power with insurance payers and enables clinical integration while preserving physician autonomy. 4. **Accountable Care Organizations (ACOs)** - The company operates multiple ACOs that participate in Medicare Shared Savings Programs and other risk-based contracts, where providers share in cost savings achieved through improved care coordination and reduced unnecessary utilization. 5. **Provider Networks** - Privia creates networks that connect physicians with new patient populations and enable custom contract negotiations with payers, expanding access to value-based care opportunities. The company serves primary care physicians as well as specialists across multiple medical disciplines, with a particular focus on building primary care-centric delivery networks that can coordinate comprehensive patient care.
Revenue model
Privia Health generates revenue through multiple complementary business models that align with its physician enablement platform: **Primary Revenue Streams:** 1. **Management Services Fees** (85-90% of revenue) - The company charges physicians percentage-based fees for comprehensive practice management services, including billing, administrative support, technology platform access, and care coordination tools. These fees are typically calculated as a percentage of practice collections, creating a revenue-sharing model where Privia's success is tied to physician practice performance. 2. **Value-Based Care Performance** (10-15% of revenue) - Privia participates in shared savings programs and risk-based contracts where it receives portions of cost savings achieved through improved care coordination and reduced unnecessary healthcare utilization. This includes Medicare Shared Savings Program (MSSP) bonuses and shared risk arrangements with commercial payers. 3. **Capitation and Risk-Based Contracts** - For certain Medicare Advantage and Medicaid populations, Privia receives fixed per-member-per-month payments and shares in the financial risk of managing patient populations. **Margin Influencing Factors:** Factors that increase margins include higher patient utilization of ambulatory services (which Privia helps coordinate efficiently), successful performance in value-based care contracts that generate shared savings, economies of scale as more providers join the platform, and improved care coordination that reduces costly emergency department visits and hospital readmissions. Factors that decrease margins include adverse selection in risk-based contracts, regulatory changes affecting Medicare and Medicaid reimbursement rates, increased competition from other physician enablement platforms, higher than expected medical costs in capitated arrangements, and the substantial upfront investments required when entering new geographic markets or onboarding new provider groups. The company's customers are primarily independent physician practices and small to medium-sized medical groups who pay for Privia's services, while the ultimate beneficiaries are the patients served by these providers and the health plans that contract with Privia's network.
Competitive moat
Privia Health's competitive moat is moderately strong but faces significant challenges in an increasingly competitive healthcare technology landscape. The company's primary defensive advantages stem from its comprehensive, integrated platform that deeply embeds into physician workflows and practice operations. **Moat Strengths:** The company benefits from high switching costs once physicians are fully integrated into Privia's platform, as evidenced by their 98% provider retention rate. The comprehensive nature of their offering - combining technology, administrative services, risk management, and payer contracting - creates operational dependencies that make it difficult for practices to migrate to competitors. Additionally, Privia's scale in managing over 1.27 million attributed lives provides negotiating leverage with health plans and enables them to offer more attractive value-based care contracts than smaller competitors. **Competitive Vulnerabilities:** However, Privia operates in a highly competitive and rapidly evolving market. Large technology companies like Amazon, Google, and Microsoft are investing heavily in healthcare technology, while established players like Optum (UnitedHealth Group) have significantly more resources and vertical integration. The company also faces competition from other physician enablement platforms, health systems building their own networks, and direct primary care models that bypass traditional insurance altogether. **Disruption Risks:** The most significant threats come from well-capitalized competitors who can offer more comprehensive solutions or undercut Privia's pricing, regulatory changes that could alter the economics of value-based care, and the potential for large health systems or payers to develop competing platforms internally. The company's reliance on complex regulatory environments (Medicare, Medicaid) also creates policy risk that could materially impact their business model. While Privia has built meaningful scale and operational expertise, their moat is not insurmountable and requires continuous innovation and execution to maintain competitive positioning.
Risks & safety
**Overall Assessment:** Moderate to strong financial safety with excellent liquidity but elevated valuation risk. **Liquidity and Solvency:** - Cash position: $469 million with no meaningful debt (debt-to-equity ratio of 0.008) - Current ratio: 1.88x indicating strong short-term liquidity - Free cash flow: Recently turned positive at $109 million annually, though Q1 2025 showed negative $24 million due to timing - Burn rate: Minimal cash burn risk given strong balance sheet and improving cash generation **Valuation Metrics:** - EV/EBITDA: 78.8x (extremely high, indicating significant valuation risk) - Price-to-book: 4.1x (elevated for a services company) - Revenue multiple: Approximately 1.6x trailing revenue (reasonable for growth rate) **Other Considerations:** - Strong balance sheet provides significant downside protection - Positive EBITDA and improving cash flow conversion (targeting 80%+ of EBITDA) - High valuation multiples create vulnerability to growth disappointments - Regulatory exposure in healthcare sector adds operational risk - Strong market position but faces well-capitalized competition
Recent development
Over the past few years, Privia Health has executed a disciplined national expansion strategy while strengthening its value-based care capabilities. The company has systematically entered new geographic markets, expanding from 10 states in 2022 to 14 states by 2025, with recent entries into Arizona through the $95 million IMS acquisition and previous expansions into Indiana, North Carolina, Ohio, Connecticut, and Washington. **Strategic Platform Evolution:** The company has significantly enhanced its value-based care infrastructure, growing from managing approximately 1.1 million attributed lives in 2022 to 1.27 million by early 2025. Privia has diversified its risk portfolio across commercial, Medicare Advantage, and Medicaid programs while taking a cautious approach to full-risk capitation arrangements. The company has proactively restructured certain Medicare Advantage contracts to reduce downside risk exposure while maintaining upside participation. **Technology and Operational Improvements:** Privia has continued investing in artificial intelligence and advanced analytics capabilities to improve care coordination and clinical decision-making. The company has maintained exceptionally high provider retention rates (98%) and patient satisfaction scores (Net Promoter Score of 87), indicating successful execution of their physician-centric approach. **Financial Performance Trajectory:** The company has demonstrated consistent improvement in key financial metrics, with adjusted EBITDA growing from $61 million in 2022 to over $90 million in 2024, while achieving their target of converting approximately 80% of EBITDA to free cash flow. Practice collections have grown from $2.42 billion in 2022 to nearly $3 billion in 2024, reflecting both organic growth and successful market expansion. **Strategic Focus Areas:** Recent developments indicate a continued focus on building primary care-centric delivery networks, expanding direct-to-employer contracting opportunities, and maintaining disciplined capital allocation with their substantial cash position. The company has also emphasized building market density in existing regions rather than pursuing aggressive geographic expansion.
PRVA company profile · for informational purposes only — not investment advice.
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