Privia Health Group (NASDAQ:PRVA) Earns Buy Rating from Analysts at Citigroup

Investment analysts at Citigroup started coverage on shares of Privia Health Group (NASDAQ:PRVA) in a note issued to investors on Monday, Briefing.com reports. The firm set a “buy” rating and a $25.00 price target on the stock. Citigroup’s price target would suggest a potential upside of 38.27% from the stock’s previous close.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Privia Health Group from $38.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 6th. 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. Evercore ISI lowered their price objective on shares of Privia Health Group from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Bank of America lowered shares of Privia Health Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $27.00 to $21.00 in a research note on Thursday, February 22nd. Finally, Jefferies Financial Group started coverage on shares of Privia Health Group in a report on Monday, February 26th. They issued a “buy” rating and a $25.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.92.

Privia Health Group Stock Up 1.5 %

NASDAQ PRVA opened at $18.08 on Monday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 95.16, a PEG ratio of 2.47 and a beta of 0.81. Privia Health Group has a 52 week low of $17.54 and a 52 week high of $30.15. The company has a fifty day moving average of $20.10 and a two-hundred day moving average of $21.39.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results 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 company had revenue of $440.80 million for the quarter, compared to analysts’ expectations of $425.81 million. Privia Health Group had a net margin of 1.39% and a return on equity of 3.97%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. Equities research analysts anticipate that Privia Health Group will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other Privia Health Group news, Director William M. Sullivan sold 9,951 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $23.03, for a total value of $229,171.53. Following the sale, the director now owns 5,464,533 shares in the company, valued at approximately $125,848,194.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director William M. Sullivan sold 9,951 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $23.03, for a total transaction of $229,171.53. Following the transaction, the director now owns 5,464,533 shares in the company, valued at approximately $125,848,194.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David Mountcastle sold 3,933 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 262,279 shares in the company, valued at approximately $4,660,697.83. The disclosure for this sale can be found here. Insiders own 14.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ensign Peak Advisors Inc raised its stake in Privia Health Group by 1.3% in the 1st quarter. Ensign Peak Advisors Inc now owns 31,290 shares of the company’s stock valued at $864,000 after purchasing an additional 400 shares during the last quarter. Amalgamated Bank increased its stake in shares of Privia Health Group by 5.8% in the 4th quarter. Amalgamated Bank now owns 7,638 shares of the company’s stock worth $173,000 after acquiring an additional 418 shares during the last quarter. US Bancorp DE increased its stake in shares of Privia Health Group by 2.3% in the 4th quarter. US Bancorp DE now owns 21,522 shares of the company’s stock worth $496,000 after acquiring an additional 483 shares during the last quarter. American International Group Inc. increased its stake in shares of Privia Health Group by 2.3% in the 4th quarter. American International Group Inc. now owns 21,670 shares of the company’s stock worth $492,000 after acquiring an additional 487 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Privia Health Group by 8.3% in the 3rd quarter. Covestor Ltd now owns 6,703 shares of the company’s stock worth $154,000 after acquiring an additional 514 shares during the last quarter. Hedge funds and other 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.