Privia Health Group’s (PRVA) Outperform Rating Reiterated at Royal Bank of Canada

Privia Health Group (NASDAQ:PRVA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $28.00 target price on the stock. Royal Bank of Canada’s price target indicates a potential upside of 45.15% from the stock’s current price.

PRVA has been the subject of a number of other reports. Citigroup assumed coverage on Privia Health Group in a research note on Monday, April 22nd. They set a “buy” rating and a $25.00 target price for the company. Evercore ISI lowered their target price on Privia Health Group from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Canaccord Genuity Group lowered their target price on Privia Health Group from $37.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Truist Financial lowered their target price on Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Barclays reduced their price target on Privia Health Group from $22.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.79.

Privia Health Group Stock Performance

NASDAQ:PRVA traded down $0.76 on Wednesday, hitting $19.29. 208,977 shares of the stock were exchanged, compared to its average volume of 897,333. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 129.40, a P/E/G ratio of 4.23 and a beta of 0.78. Privia Health Group has a 52 week low of $15.92 and a 52 week high of $27.34. The company’s 50-day moving average price is $18.25 and its 200 day moving average price is $18.92.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $422.30 million during the quarter, compared to the consensus estimate of $411.50 million. Privia Health Group had a net margin of 0.88% and a return on equity of 2.42%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. As a group, equities research analysts predict that Privia Health Group will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Adam Boehler acquired 277,565 shares of the stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $16.17 per share, for a total transaction of $4,488,226.05. Following the transaction, the director now directly owns 5,488,701 shares of the company’s stock, valued at $88,752,295.17. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Adam Boehler purchased 277,565 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $16.17 per share, for a total transaction of $4,488,226.05. Following the completion of the transaction, the director now owns 5,488,701 shares of the company’s stock, valued at $88,752,295.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Mccarthy purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $16.37 per share, for a total transaction of $163,700.00. Following the transaction, the director now directly owns 52,611 shares of the company’s stock, valued at approximately $861,242.07. The disclosure for this purchase can be found here. Insiders have bought 293,235 shares of company stock worth $4,745,481 in the last 90 days. Company insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

A number of hedge funds have recently made changes to their positions in PRVA. Blair William & Co. IL lifted its stake in shares of Privia Health Group by 125.4% in the 1st quarter. Blair William & Co. IL now owns 51,564 shares of the company’s stock valued at $1,010,000 after acquiring an additional 28,689 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Privia Health Group by 27.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 234,991 shares of the company’s stock valued at $4,603,000 after purchasing an additional 50,042 shares during the last quarter. Handelsbanken Fonder AB raised its position in Privia Health Group by 41.5% in the fourth quarter. Handelsbanken Fonder AB now owns 15,000 shares of the company’s stock valued at $345,000 after purchasing an additional 4,400 shares during the last quarter. Vanguard Group Inc. raised its position in Privia Health Group by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company’s stock valued at $259,740,000 after purchasing an additional 274,345 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in Privia Health Group by 44.9% in the fourth quarter. Benjamin Edwards Inc. now owns 3,239 shares of the company’s stock valued at $75,000 after purchasing an additional 1,003 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Privia Health Group Company Profile

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.