Privia Health Group (NASDAQ:PRVA) Coverage Initiated at Citigroup

Citigroup began coverage on shares of Privia Health Group (NASDAQ:PRVA) in a research report sent to investors on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $25.00 price objective on the stock.

PRVA has been the subject of a number of other reports. Barclays assumed coverage on shares of Privia Health Group in a report on Wednesday, March 6th. They issued an equal weight rating and a $22.00 target price for the company. UBS Group lowered their target price on shares of Privia Health Group from $31.00 to $29.00 and set a buy rating for the company in a research note on Friday, March 1st. Bank of America lowered shares of Privia Health Group from a buy rating to a neutral rating and cut their price target for the stock from $27.00 to $21.00 in a report on Thursday, February 22nd. JPMorgan Chase & Co. decreased their price objective on Privia Health Group from $38.00 to $30.00 and set an overweight rating for the company in a report on Wednesday, March 6th. Finally, Evercore ISI dropped their target price 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. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $27.92.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $17.99 on Monday. The company has a market cap of $2.13 billion, a PE ratio of 94.69, a P/E/G ratio of 2.57 and a beta of 0.81. The firm’s 50 day moving average price is $19.86 and its 200-day moving average price is $21.28. Privia Health Group has a 52-week low of $17.54 and a 52-week high of $30.15.

Privia Health Group (NASDAQ:PRVA) last posted its earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $440.80 million for the quarter, compared to analysts’ expectations of $425.81 million. Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. On average, analysts forecast that Privia Health Group will post 0.26 earnings per share for the current fiscal year.

Insider Activity at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 3,933 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total value of $69,889.41. Following the sale, the chief financial officer now directly owns 262,279 shares of the company’s stock, valued at $4,660,697.83. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 14.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Privia Health Group during the 4th quarter valued at approximately $27,959,000. Avidity Partners Management LP grew its position in Privia Health Group by 43.1% during 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 during the period. Riverbridge Partners LLC lifted its position in shares of Privia Health Group by 8.7% during the 4th quarter. Riverbridge Partners LLC now owns 4,342,385 shares of the company’s stock valued at $100,005,000 after buying an additional 348,852 shares in the last quarter. Northern Trust Corp raised its position in Privia Health Group by 28.7% during the third quarter. Northern Trust Corp now owns 1,344,327 shares of the company’s stock worth $30,920,000 after acquiring an additional 299,395 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Privia Health Group by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company’s stock valued at $259,740,000 after purchasing an additional 274,345 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

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.