Canaccord Genuity Group Trims Privia Health Group (NASDAQ:PRVA) Target Price to $43.00

Privia Health Group (NASDAQ:PRVAGet Rating) had its target price reduced by Canaccord Genuity Group from $50.00 to $43.00 in a report issued on Friday morning, The Fly reports.

A number of other research firms also recently issued reports on PRVA. BTIG Research lifted their target price on Privia Health Group to $45.00 in a research report on Monday, August 15th. Guggenheim lifted their target price on Privia Health Group from $36.00 to $51.00 and gave the company a buy rating in a research report on Friday, August 12th. Truist Financial lifted their target price on Privia Health Group from $48.00 to $54.00 and gave the company a buy rating in a research report on Wednesday, September 7th. Cowen lifted their target price on Privia Health Group from $35.00 to $44.00 and gave the company an outperform rating in a research report on Friday, August 12th. Finally, Canaccord Genuity Group reduced their price target on Privia Health Group from $50.00 to $43.00 and set a buy rating for the company in a report on Friday. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $42.18.

Privia Health Group Price Performance

PRVA opened at $26.84 on Friday. The business’s 50-day moving average price is $34.70 and its two-hundred day moving average price is $32.07. Privia Health Group has a 1 year low of $17.99 and a 1 year high of $44.64. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -74.55 and a beta of 0.99.

Privia Health Group (NASDAQ:PRVAGet Rating) last released its earnings results on Thursday, August 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The company had revenue of $335.54 million during the quarter, compared to analyst estimates of $312.04 million. Privia Health Group had a negative net margin of 3.02% and a negative return on equity of 6.94%. Sell-side analysts anticipate that Privia Health Group will post -0.26 earnings per share for the current fiscal year.

Insider Transactions at Privia Health Group

In other news, CFO David Mountcastle sold 4,167 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $35.68, for a total transaction of $148,678.56. Following the completion of the sale, the chief financial officer now owns 91,371 shares in the company, valued at $3,260,117.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director William M. Sullivan sold 11,715 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $35.04, for a total transaction of $410,493.60. Following the completion of the sale, the director now owns 6,288,528 shares in the company, valued at $220,350,021.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David Mountcastle sold 4,167 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $35.68, for a total value of $148,678.56. Following the sale, the chief financial officer now owns 91,371 shares of the company’s stock, valued at approximately $3,260,117.28. The disclosure for this sale can be found here. Insiders sold a total of 1,272,362 shares of company stock worth $44,784,075 over the last quarter. Company insiders own 57.60% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Privia Health Group by 16.2% in the first quarter. Vanguard Group Inc. now owns 4,255,881 shares of the company’s stock valued at $113,759,000 after buying an additional 593,178 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Privia Health Group by 34.1% in the first quarter. Bank of New York Mellon Corp now owns 4,138,080 shares of the company’s stock valued at $110,611,000 after buying an additional 1,052,856 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Privia Health Group by 71.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,780,204 shares of the company’s stock valued at $80,960,000 after buying an additional 1,162,270 shares in the last quarter. BlackRock Inc. raised its position in shares of Privia Health Group by 108.4% in the first quarter. BlackRock Inc. now owns 2,579,166 shares of the company’s stock valued at $68,940,000 after buying an additional 1,341,730 shares in the last quarter. Finally, Riverbridge Partners LLC raised its position in shares of Privia Health Group by 1.5% in the second quarter. Riverbridge Partners LLC now owns 2,080,967 shares of the company’s stock valued at $60,598,000 after buying an additional 31,010 shares in the last quarter. 62.81% of the stock is currently owned by institutional investors and hedge funds.

Privia Health Group Company Profile

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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.

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