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

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

A number of other research analysts have also weighed in on the stock. TD Cowen decreased their target price on shares of Privia Health Group from $30.00 to $26.00 and set an outperform rating on the stock in a research note on Friday, March 1st. Evercore ISI decreased their price target on 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. Stifel Nicolaus dropped their target price on shares of Privia Health Group from $28.00 to $24.00 and set a buy rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price objective on shares of Privia Health Group from $38.00 to $30.00 and set an overweight rating for the company in a research note on Wednesday, March 6th. Finally, Jefferies Financial Group started coverage on Privia Health Group in a research note on Monday, February 26th. They set a buy rating and a $25.00 target price for the company. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $25.08.

Privia Health Group Stock Down 2.0 %

PRVA opened at $16.11 on Monday. The company has a market cap of $1.92 billion, a PE ratio of 107.40, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81. Privia Health Group has a twelve month low of $15.92 and a twelve month high of $29.42. The company has a 50-day moving average price of $18.46 and a 200 day moving average price of $20.67.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Privia Health Group had a return on equity of 3.13% and a net margin of 1.11%. The firm had revenue of $440.80 million for the quarter, compared to analysts’ expectations of $425.81 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, sell-side analysts expect that Privia Health Group will post 0.21 earnings per share for the current year.

Insider Activity at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 2,320 shares of Privia Health Group stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total transaction of $42,734.40. Following the transaction, the chief financial officer now owns 259,959 shares of the company’s stock, valued at $4,788,444.78. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Privia Health Group news, CFO David Mountcastle sold 2,320 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total transaction of $42,734.40. Following the completion of the sale, the chief financial officer now directly owns 259,959 shares of the company’s stock, valued at approximately $4,788,444.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Adam Boehler bought 277,565 shares of the stock in a transaction on Tuesday, May 21st. The stock was bought at an average price of $16.17 per share, for a total transaction of $4,488,226.05. Following the completion of the purchase, the director now directly owns 5,488,701 shares in the company, valued at approximately $88,752,295.17. The disclosure for this purchase can be found here. Insiders have sold 49,390 shares of company stock valued at $897,700 in the last ninety days. Insiders own 14.20% of the company’s stock.

Institutional Trading of Privia Health Group

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Privia Health Group in the 4th quarter valued at about $27,959,000. First Light Asset Management LLC purchased a new position in Privia Health Group in the 1st quarter valued at approximately $21,620,000. Riverbridge Partners LLC grew its holdings in Privia Health Group by 17.5% in the first quarter. Riverbridge Partners LLC now owns 5,399,662 shares of the company’s stock valued at $105,779,000 after purchasing an additional 804,304 shares during the last quarter. Avidity Partners Management LP increased its position in shares of Privia Health Group by 43.1% in the third quarter. Avidity Partners Management LP now owns 1,545,100 shares of the company’s stock valued at $35,537,000 after buying an additional 465,294 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Privia Health Group by 28.7% during the 3rd quarter. Northern Trust Corp now owns 1,344,327 shares of the company’s stock worth $30,920,000 after buying an additional 299,395 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

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.