Truist Financial Reaffirms Buy Rating for Privia Health Group (NASDAQ:PRVA)

Privia Health Group (NASDAQ:PRVA)‘s stock had its “buy” rating reiterated by research analysts at Truist Financial in a research note issued on Monday,Benzinga reports. They presently have a $31.00 price objective on the stock, up from their previous price objective of $30.00. Truist Financial’s target price suggests a potential upside of 27.47% from the company’s previous close.

PRVA has been the subject of several other research reports. Evercore ISI upped their price objective on Privia Health Group from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Barclays upped their price target on shares of Privia Health Group from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. Citizens Jmp raised their price objective on shares of Privia Health Group from $30.00 to $31.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Stephens reiterated an “overweight” rating and issued a $32.00 target price on shares of Privia Health Group in a report on Wednesday, September 24th. Finally, JMP Securities increased their target price on shares of Privia Health Group from $29.00 to $30.00 and gave the company a “market outperform” rating in a research note on Friday, August 29th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Privia Health Group currently has an average rating of “Moderate Buy” and an average target price of $29.58.

Privia Health Group Price Performance

Privia Health Group stock opened at $24.32 on Monday. Privia Health Group has a 12-month low of $18.77 and a 12-month high of $26.51. The stock has a market capitalization of $2.99 billion, a PE ratio of 187.09, a price-to-earnings-growth ratio of 3.32 and a beta of 0.83. The firm has a 50 day simple moving average of $24.18 and a 200-day simple moving average of $22.77.

Privia Health Group (NASDAQ:PRVA) last announced its earnings results on Tuesday, June 7th. The company reported $0.10 EPS for the quarter. The firm had revenue of $213.61 million for the quarter. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%. On average, analysts forecast that Privia Health Group will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Privia Health Group

Hedge funds have recently bought and sold shares of the business. US Bancorp DE grew its stake in Privia Health Group by 2.4% during the 1st quarter. US Bancorp DE now owns 18,487 shares of the company’s stock valued at $415,000 after acquiring an additional 429 shares in the last quarter. Wealth Alliance LLC boosted its holdings in shares of Privia Health Group by 4.4% during the third quarter. Wealth Alliance LLC now owns 11,979 shares of the company’s stock worth $298,000 after purchasing an additional 508 shares during the period. Arizona State Retirement System grew its position in Privia Health Group by 1.9% during the third quarter. Arizona State Retirement System now owns 28,835 shares of the company’s stock valued at $718,000 after purchasing an additional 524 shares in the last quarter. Bank of Montreal Can increased its stake in Privia Health Group by 1.9% in the 2nd quarter. Bank of Montreal Can now owns 28,694 shares of the company’s stock valued at $660,000 after buying an additional 543 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in Privia Health Group by 1.1% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 55,501 shares of the company’s stock worth $1,382,000 after buying an additional 585 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

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.