PRVA - Privia Health gains as Piper sees upside after Medicare data
- Physician platform Privia Health Group ( NASDAQ: PRVA ) traded higher on Tuesday after Piper Sandler issued bullish views on the company citing newly released data from the Centers for Medicare & Medicaid Services (CMS) on Accountable Care Organizations ((ACOs)).
- The analysts led by Jessica Tassan argue that CMS data on the 2023 Medicare Shared Savings Program (MSSP) suggests the entry of Privia ( PRVA ) to the Delaware market on Jan. 01 with the provider group Beebee Physician Network.
- "Beebee joins Privia Quality Network Delaware, a re-entering ACO that will participate in the Enhanced Track of MSSP for 2023," Tassan and the team wrote, adding that Beebee comprises a 200-strong network of physicians and advance practice providers.
- As a result, the analysts project an upside to their Q1 2023 provider estimates and reiterate the Overweight rating and $42 per share target on the stock, noting they "would be buyers of PRVA on the news."
- Seeking Alpha contributor, Heinsite Capital wrote in December that Privia ( PRVA ) was undervalued and the company is positioned to resolve challenges the U.S. healthcare sector faces.
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Privia Health gains as Piper sees upside after Medicare data