Privia Health Group (NASDAQ:PRVA) Stock Price Expected to Rise, Barclays Analyst Says

Privia Health Group (NASDAQ:PRVA) had its target price upped by equities researchers at Barclays from $23.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 18.32% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Wolfe Research set a $31.00 price objective on shares of Privia Health Group in a research report on Tuesday, January 6th. Jefferies Financial Group reiterated a “buy” rating and set a $32.00 price target on shares of Privia Health Group in a report on Thursday, February 26th. Canaccord Genuity Group increased their price objective on Privia Health Group from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Stephens restated an “overweight” rating and set a $32.00 price objective on shares of Privia Health Group in a research report on Thursday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.13.

Privia Health Group Stock Performance

PRVA opened at $21.13 on Wednesday. The stock’s fifty day moving average is $22.61 and its 200-day moving average is $23.55. The company has a market capitalization of $2.61 billion, a PE ratio of 125.45, a P/E/G ratio of 1.36 and a beta of 0.82. Privia Health Group has a one year low of $18.77 and a one year high of $26.51.

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

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 7,697 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $25.05, for a total value of $192,809.85. Following the transaction, the chief financial officer directly owned 172,909 shares of the company’s stock, valued at $4,331,370.45. This represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Shawn Morris sold 16,550 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $25.00, for a total value of $413,750.00. Following the sale, the director directly owned 68,188 shares of the company’s stock, valued at $1,704,700. This trade represents a 19.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 242,191 shares of company stock worth $5,520,587 over the last 90 days. 10.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Privia Health Group

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

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.