Privia Health Group (NASDAQ:PRVA) Price Target Raised to $25.00 at Barclays

Privia Health Group (NASDAQ:PRVA) had its price objective upped by Barclays from $23.00 to $25.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group reiterated a “buy” rating and issued a $32.00 price target on shares of Privia Health Group in a report on Thursday, February 26th. Citigroup dropped their price objective on Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Privia Health Group in a research note on Monday, December 29th. Royal Bank Of Canada began coverage on shares of Privia Health Group in a research report on Friday, January 9th. They set an “outperform” rating and a $31.00 price target for the company. Finally, Truist Financial boosted their price target on shares of Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Privia Health Group has a consensus rating of “Moderate Buy” and an average target price of $31.13.

Privia Health Group Price Performance

PRVA stock opened at $20.54 on Wednesday. The company has a 50 day moving average price of $22.56 and a 200 day moving average price of $23.53. Privia Health Group has a fifty-two week low of $18.77 and a fifty-two week high of $26.51. The stock has a market capitalization of $2.54 billion, a PE ratio of 120.82, a price-to-earnings-growth ratio of 1.32 and a beta of 0.82.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.21. The firm had revenue of $541.17 million for the quarter, compared to analyst estimates of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. As a group, equities analysts expect that Privia Health Group will post 0.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Parth Mehrotra sold 41,999 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $22.86, for a total value of $960,097.14. Following the completion of the sale, the chief executive officer owned 343,795 shares in the company, valued at $7,859,153.70. This represents a 10.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Shawn Morris sold 16,550 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $25.00, for a total value of $413,750.00. Following the sale, the director directly owned 68,188 shares in the company, valued at $1,704,700. The trade was a 19.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 242,191 shares of company stock valued at $5,520,587 in the last quarter. Company insiders own 10.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Institutional investors have recently modified their holdings of the business. Great Lakes Advisors LLC acquired a new position in Privia Health Group in the 3rd quarter worth $4,487,000. Advantage Alpha Capital Partners LP acquired a new stake in shares of Privia Health Group in the 2nd quarter valued at about $3,941,000. Hsbc Holdings PLC lifted its holdings in shares of Privia Health Group by 69.2% in the second quarter. Hsbc Holdings PLC now owns 113,718 shares of the company’s stock valued at $2,549,000 after purchasing an additional 46,526 shares in the last quarter. ArrowMark Colorado Holdings LLC bought a new stake in shares of Privia Health Group in the third quarter valued at about $8,750,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Privia Health Group during the second quarter worth about $2,209,000. Institutional investors own 94.48% of the company’s stock.

Privia Health Group Company Profile

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.