Stifel Nicolaus Cuts Privia Health Group (NASDAQ:PRVA) Price Target to $24.00

Privia Health Group (NASDAQ:PRVA) had its target price cut by Stifel Nicolaus from $28.00 to $24.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on PRVA. Canaccord Genuity Group decreased their price objective on shares of Privia Health Group from $41.00 to $37.00 and set a buy rating for the company in a report on Tuesday, March 19th. UBS Group decreased their price target on shares of Privia Health Group from $31.00 to $29.00 and set a buy rating for the company in a research note on Friday, March 1st. Barclays started coverage on Privia Health Group in a research note on Wednesday, March 6th. They issued an equal weight rating and a $22.00 price objective on the stock. Citigroup began coverage on Privia Health Group in a research report on Monday, April 22nd. They issued a buy rating and a $25.00 target price for the company. Finally, Evercore ISI dropped their price target on Privia Health Group from $26.00 to $25.00 and set an outperform rating on the stock in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $27.62.

Privia Health Group Trading Down 2.0 %

Shares of PRVA opened at $18.03 on Wednesday. The stock has a 50 day moving average of $19.71 and a 200 day moving average of $21.18. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 94.90, a PEG ratio of 2.51 and a beta of 0.81. Privia Health Group has a 12 month low of $17.54 and a 12 month high of $30.15.

Privia Health Group (NASDAQ:PRVA) last announced its earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $440.80 million for the quarter, compared to analysts’ expectations of $425.81 million. Privia Health Group had a net margin of 1.39% and a return on equity of 3.97%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. As a group, equities research analysts predict that Privia Health Group will post 0.26 earnings per share for the current year.

Insider Activity

In related news, CFO David Mountcastle sold 3,933 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $17.77, for a total transaction of $69,889.41. Following the sale, the chief financial officer now owns 262,279 shares of the company’s stock, valued at approximately $4,660,697.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.20% of the stock is owned by company insiders.

Institutional Trading of Privia Health Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Privia Health Group in the 4th quarter valued at $27,959,000. Riverbridge Partners LLC increased its holdings in shares of Privia Health Group by 17.5% in the first quarter. Riverbridge Partners LLC now owns 5,399,662 shares of the company’s stock worth $105,779,000 after purchasing an additional 804,304 shares during the period. Avidity Partners Management LP raised its position in shares of Privia Health Group by 43.1% in the third quarter. Avidity Partners Management LP now owns 1,545,100 shares of the company’s stock worth $35,537,000 after buying an additional 465,294 shares in the last quarter. Northern Trust Corp boosted its stake in Privia Health Group by 28.7% during the third quarter. Northern Trust Corp now owns 1,344,327 shares of the company’s stock valued at $30,920,000 after buying an additional 299,395 shares during the period. Finally, Vanguard Group Inc. grew its position in Privia Health Group by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company’s stock worth $259,740,000 after buying an additional 274,345 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

About Privia Health Group

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.