Privia Health Group (NASDAQ:PRVA) PT Lowered to $19.00 at Barclays

Privia Health Group (NASDAQ:PRVA) had its price target lowered by Barclays from $22.00 to $19.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also commented on PRVA. JPMorgan Chase & Co. dropped their price target on shares of Privia Health Group from $38.00 to $30.00 and set an overweight rating on the stock in a research note on Wednesday, March 6th. Truist Financial dropped their price target on shares of Privia Health Group from $28.00 to $24.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Jefferies Financial Group started coverage on shares of Privia Health Group in a research note on Monday, February 26th. They issued a buy rating and a $25.00 price target on the stock. Citigroup started coverage on shares of Privia Health Group in a research note on Monday, April 22nd. They set a buy rating and a $25.00 price objective on the stock. Finally, Evercore ISI lowered their price objective on shares of Privia Health Group from $26.00 to $25.00 and set an outperform rating on the stock in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $25.08.

Privia Health Group Stock Up 1.8 %

PRVA stock opened at $16.44 on Monday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 109.60, a PEG ratio of 2.29 and a beta of 0.81. The business has a fifty day simple moving average of $18.55 and a 200-day simple moving average of $20.70. Privia Health Group has a 52 week low of $15.92 and a 52 week high of $29.42.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Privia Health Group had a net margin of 1.11% and a return on equity of 3.13%. The firm had revenue of $440.80 million during the quarter, compared to analysts’ expectations of $425.81 million. During the same period in the previous year, the company earned $0.14 earnings per share. The business’s quarterly revenue was up 21.0% on a year-over-year basis. As a group, analysts expect that Privia Health Group will post 0.23 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO David Mountcastle sold 2,232 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $17.88, for a total transaction of $39,908.16. Following the transaction, the chief financial officer now owns 257,727 shares in the company, valued at approximately $4,608,158.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO David Mountcastle sold 2,232 shares of Privia Health Group stock in a transaction on Friday, May 10th. The shares were sold at an average price of $17.88, for a total value of $39,908.16. Following the transaction, the chief financial officer now owns 257,727 shares in the company, valued at approximately $4,608,158.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Parth Mehrotra sold 13,869 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $17.88, for a total transaction of $247,977.72. Following the transaction, the chief executive officer now owns 247,771 shares in the company, valued at approximately $4,430,145.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,390 shares of company stock worth $897,700. 14.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Privia Health Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRVA. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Privia Health Group by 13.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,829 shares of the company’s stock worth $479,000 after purchasing an additional 2,518 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Privia Health Group by 1.1% during the third quarter. Yousif Capital Management LLC now owns 52,065 shares of the company’s stock worth $1,197,000 after purchasing an additional 574 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Privia Health Group by 3.3% during the third quarter. Principal Financial Group Inc. now owns 3,505,260 shares of the company’s stock worth $80,621,000 after purchasing an additional 111,538 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Privia Health Group by 53.4% during the third quarter. Victory Capital Management Inc. now owns 24,014 shares of the company’s stock worth $552,000 after purchasing an additional 8,356 shares in the last quarter. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of Privia Health Group during the third quarter worth approximately $1,255,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

About Privia Health Group

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.