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

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

Several other equities analysts have also recently issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Privia Health Group from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, February 27th. 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 objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $36.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Wolfe Research set a $31.00 price target on shares of Privia Health Group in a research note on Tuesday, January 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $32.00 price objective on shares of Privia Health Group in a research report on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.13.

Privia Health Group Stock Down 0.8%

Shares of PRVA stock opened at $20.02 on Wednesday. The stock’s 50-day moving average price is $22.42 and its 200 day moving average price is $23.48. The stock has a market capitalization of $2.48 billion, a PE ratio of 117.76, a price-to-earnings-growth ratio of 1.27 and a beta of 0.82. Privia Health Group has a 52-week low of $18.77 and a 52-week high of $26.51.

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

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, Director Matthew Shawn Morris sold 16,550 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $25.00, for a total transaction of $413,750.00. Following the sale, the director directly owned 68,188 shares in the company, valued at approximately $1,704,700. The trade was a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Parth Mehrotra sold 41,999 shares of the firm’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 transaction, the chief executive officer owned 343,795 shares of the company’s stock, valued at approximately $7,859,153.70. This represents a 10.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 242,191 shares of company stock valued at $5,520,587. Corporate insiders own 10.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRVA. Bayban acquired a new stake in shares of Privia Health Group in the fourth quarter valued at approximately $26,000. Hantz Financial Services Inc. raised its position in shares of Privia Health Group by 456.2% during the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after purchasing an additional 926 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Privia Health Group by 579.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after buying an additional 1,351 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after buying an additional 1,200 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Privia Health Group during the 4th quarter valued at $93,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Privia Health Group

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.