Analysts Set Privia Health Group, Inc. (NASDAQ:PRVA) Target Price at $24.73

Privia Health Group, Inc. (NASDAQ:PRVA) has received a consensus recommendation of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $24.73.

Several equities research analysts have weighed in on PRVA shares. Evercore ISI dropped their price target on shares of Privia Health Group from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Royal Bank of Canada restated an “outperform” rating and issued a $28.00 price objective on shares of Privia Health Group in a report on Wednesday, August 14th. KeyCorp began coverage on shares of Privia Health Group in a report on Friday, October 11th. They issued an “overweight” rating and a $23.00 price objective for the company. Finally, Robert W. Baird upped their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, August 26th.

Insider Buying and Selling

In related news, CEO Parth Mehrotra sold 135,142 shares of the stock in a transaction dated Tuesday, September 10th. The shares were 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 directly 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 legal filing 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

Several institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new stake in Privia Health Group during the 2nd quarter valued at about $26,000. GAMMA Investing LLC grew its position in Privia Health Group by 98.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,701 shares of the company’s stock valued at $31,000 after purchasing an additional 845 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Privia Health Group by 107.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,795 shares of the company’s stock valued at $31,000 after purchasing an additional 930 shares during the last quarter. Signaturefd LLC grew its position in Privia Health Group by 46.3% during the 2nd quarter. Signaturefd LLC now owns 1,978 shares of the company’s stock valued at $34,000 after purchasing an additional 626 shares during the last quarter. Finally, Park Place Capital Corp grew its position in Privia Health Group by 115.4% during the 1st quarter. Park Place Capital Corp now owns 2,492 shares of the company’s stock valued at $49,000 after purchasing an additional 1,335 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.

Privia Health Group Stock Down 2.0 %

Shares of PRVA opened at $18.36 on Friday. The stock has a market capitalization of $2.20 billion, a P/E ratio of 153.00, a PEG ratio of 4.01 and a beta of 0.76. The firm has a fifty day simple moving average of $18.45 and a two-hundred day simple moving average of $18.26. Privia Health Group has a twelve month low of $15.92 and a twelve month high of $24.35.

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

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.