Privia Health Group (NASDAQ:PRVA) Price Target Raised to $33.00

Privia Health Group (NASDAQ:PRVA) had its price target increased by Truist Financial from $31.00 to $33.00 in a research report sent to investors on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on PRVA. Stephens reiterated an “overweight” rating and set a $32.00 price target on shares of Privia Health Group in a report on Thursday, December 4th. Royal Bank Of Canada initiated coverage on shares of Privia Health Group in a research note on Friday, January 9th. They issued an “outperform” rating and a $31.00 target price for the company. Citigroup reissued a “market outperform” rating on shares of Privia Health Group in a research report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Privia Health Group in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Privia Health Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Privia Health Group has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Privia Health Group Trading Up 2.2%

NASDAQ PRVA opened at $24.30 on Monday. Privia Health Group has a 1-year low of $18.77 and a 1-year high of $26.51. The company has a market capitalization of $3.01 billion, a PE ratio of 142.94, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. The firm’s fifty day simple moving average is $23.07 and its 200-day simple moving average is $23.54.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings data 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 firm had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $516.61 million. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, analysts predict that Privia Health Group will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other news, CFO David Mountcastle sold 23,887 shares of Privia Health Group stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.03, for a total value of $597,891.61. Following the transaction, the chief financial officer directly owned 172,909 shares in the company, valued at approximately $4,327,912.27. The trade was a 12.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Shawn Morris sold 16,550 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $25.00, for a total value of $413,750.00. Following the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,704,700. This represents a 19.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 74,930 shares of company stock valued at $1,874,410. Company insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRVA. Hantz Financial Services Inc. boosted its position in shares of Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after acquiring an additional 926 shares during the period. Global Retirement Partners LLC raised its stake in Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after purchasing an additional 1,351 shares during the last quarter. CWM LLC boosted its holdings in Privia Health Group by 89.4% in the 2nd quarter. CWM LLC now owns 3,416 shares of the company’s stock valued at $79,000 after purchasing an additional 1,612 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Privia Health Group by 48.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after purchasing an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in Privia Health Group in the 4th quarter worth $93,000. 94.48% of the stock is owned by institutional investors.

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.