Barclays Boosts Privia Health Group (NASDAQ:PRVA) Price Target to $25.00

Privia Health Group (NASDAQ:PRVA) had its price objective upped by stock analysts at Barclays from $23.00 to $25.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 23.89% from the company’s current price.

Several other research analysts have also weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Privia Health Group in a research note on Monday, December 29th. Citigroup decreased their target price on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Wolfe Research set a $31.00 price target on shares of Privia Health Group in a report on Tuesday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $36.00 price target on shares of Privia Health Group in a research note on Thursday, February 26th. Finally, Stephens reiterated an “overweight” rating and set a $32.00 price objective on shares of Privia Health Group in a report on Thursday, December 4th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.13.

Privia Health Group Trading Down 1.8%

Shares of NASDAQ PRVA opened at $20.18 on Wednesday. Privia Health Group has a one year low of $18.77 and a one year high of $26.51. The business has a 50-day moving average price of $22.49 and a two-hundred day moving average price of $23.50. The firm has a market capitalization of $2.50 billion, a PE ratio of 118.71, a PEG ratio of 1.29 and a beta of 0.82.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Thursday, February 26th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.21. The company had revenue of $541.17 million for the quarter, compared to the consensus estimate of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Research analysts anticipate that Privia Health Group will post 0.14 EPS for the current year.

Insider Activity at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 7,697 shares of Privia Health Group stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $25.05, for a total value of $192,809.85. Following the completion of the sale, the chief financial officer directly owned 172,909 shares in the company, valued at $4,331,370.45. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Shawn Morris sold 16,550 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $25.00, for a total transaction of $413,750.00. Following the completion of the sale, the director directly owned 68,188 shares of the company’s stock, valued at $1,704,700. This represents a 19.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 242,191 shares of company stock valued at $5,520,587. 10.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Privia Health Group

A number of large investors have recently bought and sold shares of the business. Bayban bought a new position in Privia Health Group during the fourth quarter valued at about $26,000. Hantz Financial Services Inc. boosted its stake in shares of Privia Health Group by 456.2% during the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after acquiring an additional 926 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after acquiring an additional 1,351 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Privia Health Group during the 4th quarter valued at about $93,000. 94.48% of the stock is currently owned by institutional investors.

Privia Health Group Company Profile

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.