Privia Health Group (NASDAQ:PRVA) Price Target Lowered to $24.00 at Stifel Nicolaus

Privia Health Group (NASDAQ:PRVA) had its target price reduced by analysts at Stifel Nicolaus from $28.00 to $24.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 30.43% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup began coverage on Privia Health Group in a research report on Monday, April 22nd. They set a “buy” rating and a $25.00 price objective for the company. Jefferies Financial Group began coverage on Privia Health Group in a research report on Monday, February 26th. They set a “buy” rating and a $25.00 price objective for the company. UBS Group cut their price objective on Privia Health Group from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, March 1st. TD Cowen cut their price objective on Privia Health Group from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Finally, Canaccord Genuity Group cut their price objective on Privia Health Group from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Privia Health Group presently has a consensus rating of “Moderate Buy” and an average target price of $27.62.

Privia Health Group Price Performance

Shares of PRVA stock opened at $18.40 on Wednesday. Privia Health Group has a 12-month low of $17.54 and a 12-month high of $30.15. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 96.85, a price-to-earnings-growth ratio of 2.55 and a beta of 0.81. The business has a 50 day simple moving average of $19.71 and a 200 day simple moving average of $21.18.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $440.80 million during the quarter, compared to the consensus estimate of $425.81 million. Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. On average, equities analysts anticipate that Privia Health Group will post 0.26 EPS for the current fiscal year.

Insider Activity

In related news, CFO David Mountcastle sold 3,933 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total value of $69,889.41. Following the completion of the sale, the chief financial officer now owns 262,279 shares in the company, valued at $4,660,697.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 14.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in Privia Health Group by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,970 shares of the company’s stock worth $176,000 after purchasing an additional 756 shares during the period. Riverbridge Partners LLC raised its stake in shares of 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 acquiring an additional 804,304 shares during the last quarter. Peregrine Capital Management LLC raised its stake in shares of Privia Health Group by 26.3% in the first quarter. Peregrine Capital Management LLC now owns 281,879 shares of the company’s stock valued at $5,522,000 after acquiring an additional 58,640 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of Privia Health Group by 4.3% in the first quarter. WCM Investment Management LLC now owns 572,454 shares of the company’s stock valued at $11,214,000 after acquiring an additional 23,367 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Privia Health Group in the first quarter valued at approximately $266,000. Institutional investors own 94.48% of the company’s stock.

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.