Privia Health Group’s (PRVA) Outperform Rating Reiterated at Royal Bank of Canada

Privia Health Group (NASDAQ:PRVA)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They presently have a $28.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 45.15% from the company’s current price.

PRVA has been the subject of a number of other reports. Barclays lowered their price objective on Privia Health Group from $22.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, May 20th. Citigroup began coverage on Privia Health Group in a report on Monday, April 22nd. They issued a “buy” rating and a $25.00 price objective for the company. Canaccord Genuity Group decreased their price objective on Privia Health Group from $37.00 to $26.00 and set a “buy” rating for the company in a report on Friday, May 10th. Robert W. Baird began coverage on Privia Health Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $23.00 price target for the company. Finally, Evercore ISI cut their price objective on Privia Health Group from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.79.

Privia Health Group Trading Down 3.8 %

Privia Health Group stock traded down $0.76 during mid-day trading on Wednesday, hitting $19.29. The company had a trading volume of 208,977 shares, compared to its average volume of 897,333. Privia Health Group has a 12-month low of $15.92 and a 12-month high of $27.34. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 129.40, a P/E/G ratio of 4.23 and a beta of 0.78. The company’s fifty day moving average is $18.25 and its 200-day moving average is $18.92.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Privia Health Group had a return on equity of 2.42% and a net margin of 0.88%. The company had revenue of $422.30 million during the quarter, compared to analyst estimates of $411.50 million. During the same period last year, the business earned $0.06 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Privia Health Group will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, Director Thomas A. Mccarthy bought 10,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $16.37 per share, with a total value of $163,700.00. Following the purchase, the director now directly owns 52,611 shares of the company’s stock, valued at $861,242.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Thomas A. Mccarthy acquired 10,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $16.37 per share, with a total value of $163,700.00. Following the purchase, the director now owns 52,611 shares of the company’s stock, valued at $861,242.07. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Adam Boehler bought 5,306 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average cost of $16.50 per share, for a total transaction of $87,549.00. Following the completion of the transaction, the director now directly owns 5,773,158 shares of the company’s stock, valued at $95,257,107. The disclosure for this purchase can be found here. Insiders have acquired 293,235 shares of company stock valued at $4,745,481 in the last quarter. Corporate insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Yousif Capital Management LLC grew its holdings in shares of Privia Health Group by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 52,628 shares of the company’s stock valued at $1,212,000 after buying an additional 563 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Privia Health Group by 8.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,695 shares of the company’s stock valued at $134,000 after purchasing an additional 605 shares in the last quarter. Arizona State Retirement System grew its stake in Privia Health Group by 2.4% in the second quarter. Arizona State Retirement System now owns 26,574 shares of the company’s stock valued at $462,000 after purchasing an additional 617 shares in the last quarter. Signaturefd LLC grew its stake in Privia Health Group by 46.3% in the second quarter. Signaturefd LLC now owns 1,978 shares of the company’s stock valued at $34,000 after purchasing an additional 626 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Privia Health Group by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,970 shares of the company’s stock valued at $176,000 after purchasing an additional 756 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.