Barclays Increases Privia Health Group (NASDAQ:PRVA) Price Target to $21.00

Privia Health Group (NASDAQ:PRVA) had its target price raised by equities research analysts at Barclays from $19.00 to $21.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential downside of 1.41% from the company’s previous close.

Other analysts have also issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 price target on shares of Privia Health Group in a report on Wednesday, August 14th. Robert W. Baird lifted their target price on Privia Health Group from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, August 26th. Truist Financial increased their price target on shares of Privia Health Group from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Friday. Finally, KeyCorp assumed coverage on shares of Privia Health Group in a research report on Friday, October 11th. They issued an “overweight” rating and a $23.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $25.07.

Privia Health Group Price Performance

Shares of PRVA stock opened at $21.30 on Friday. The firm has a 50-day moving average of $18.43 and a 200-day moving average of $18.36. Privia Health Group has a one year low of $15.92 and a one year high of $24.35. The company has a market cap of $2.55 billion, a P/E ratio of 177.51, a P/E/G ratio of 4.80 and a beta of 0.76.

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

Insider Activity

In other Privia Health Group news, CEO Parth Mehrotra sold 135,142 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.50, for a total value of $2,500,127.00. Following the completion of the transaction, the chief executive officer now owns 247,771 shares in the company, valued at $4,583,763.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 14.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Privia Health Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 11,400,035 shares of the company’s stock valued at $223,327,000 after acquiring an additional 121,701 shares in the last quarter. Millennium Management LLC raised its stake in Privia Health Group by 2,994.2% in the second quarter. Millennium Management LLC now owns 1,138,526 shares of the company’s stock valued at $19,788,000 after purchasing an additional 1,101,730 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Privia Health Group by 18.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,118,619 shares of the company’s stock valued at $19,441,000 after purchasing an additional 173,934 shares during the last quarter. First Light Asset Management LLC purchased a new position in Privia Health Group in the 1st quarter worth approximately $21,620,000. Finally, Bellevue Group AG grew its position in Privia Health Group by 0.7% in the first quarter. Bellevue Group AG now owns 1,059,171 shares of the company’s stock worth $20,749,000 after acquiring an additional 7,475 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.