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

Privia Health Group (NASDAQ:PRVA) had its price objective increased by equities researchers at Truist Financial from $31.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 38.95% from the company’s previous close.

Several other research analysts have also commented on PRVA. Jefferies Financial Group restated a “buy” rating and set a $32.00 price target on shares of Privia Health Group in a research note on Thursday. Wolfe Research set a $31.00 target price on shares of Privia Health Group in a research report on Tuesday, January 6th. Canaccord Genuity Group raised their target price on Privia Health Group from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday. Stephens reaffirmed an “overweight” rating and issued a $32.00 price target on shares of Privia Health Group in a research report on Thursday, December 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a report on Monday, December 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Privia Health Group currently has a consensus rating of “Moderate Buy” and an average price target of $30.93.

Privia Health Group Stock Performance

Privia Health Group stock opened at $23.75 on Monday. Privia Health Group has a twelve month low of $18.77 and a twelve month high of $26.51. The firm has a market cap of $2.92 billion, a PE ratio of 139.71, a P/E/G ratio of 1.59 and a beta of 0.82. The firm’s 50 day moving average price is $23.07 and its two-hundred day moving average price is $23.50.

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. The firm had revenue of $541.17 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. Equities analysts anticipate that Privia Health Group will post 0.14 EPS for the current fiscal year.

Insider Activity at Privia Health Group

In other news, Director Matthew Shawn Morris sold 13,647 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.01, for a total transaction of $341,311.47. Following the completion of the transaction, the director directly owned 68,188 shares in the company, valued at $1,705,381.88. The trade was a 16.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Mountcastle sold 23,887 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.03, for a total value of $597,891.61. Following the completion of the sale, the chief financial officer directly owned 172,909 shares of the company’s stock, valued at $4,327,912.27. This represents a 12.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Privia Health Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van Berkom & Associates Inc. grew its holdings in shares of Privia Health Group by 30.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock worth $93,987,000 after purchasing an additional 873,344 shares in the last quarter. Vanguard Group Inc. lifted its position in Privia Health Group by 5.3% in the third quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock worth $301,263,000 after purchasing an additional 607,447 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in Privia Health Group by 139.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock worth $19,946,000 after buying an additional 489,866 shares in the last quarter. Algert Global LLC increased its holdings in Privia Health Group by 277.4% in the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock valued at $12,059,000 after buying an additional 355,966 shares during the period. Finally, Freestone Grove Partners LP increased its holdings in Privia Health Group by 40.6% in the 4th quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock valued at $28,768,000 after buying an additional 350,194 shares during the period. Institutional investors 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.