Healthcare tech company Privia Health Group (NASDAQ: PRVA) will be reporting results this Thursday before market hours. Here’s what investors should know.
Privia Health beat analysts’ revenue expectations by 10.9% last quarter, reporting revenues of $521.2 million, up 23.4% year on year. It was a strong quarter for the company, with a solid beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is Privia Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Privia Health’s revenue to grow 13.6% year on year to $497.7 million, improving from the 4.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.22 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Privia Health has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 5.7% on average.
Looking at Privia Health’s peers in the healthcare technology segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Omnicell delivered year-on-year revenue growth of 10%, beating analysts’ expectations by 5%, and Premier reported a revenue decline of 3.3%, falling short of estimates by 1%. Omnicell traded up 13.6% following the results.
Read our full analysis of Omnicell’s results here and Premier’s results here.
Investors in the healthcare technology segment have had steady hands going into earnings, with share prices flat over the last month. Privia Health is up 2.4% during the same time and is heading into earnings with an average analyst price target of $30.33 (compared to the current share price of $24.70).
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