Privia Health Group (NASDAQ:PRVA) Now Covered by Citigroup

Stock analysts at Citigroup began coverage on shares of Privia Health Group (NASDAQ:PRVA) in a report issued on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $25.00 price target on the stock. Citigroup’s target price would suggest a potential upside of 32.98% from the company’s current price.

PRVA has been the topic of a number of other research reports. Evercore ISI reduced their price objective 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. TD Cowen cut their target price on Privia Health Group from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Bank of America downgraded Privia Health Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $27.00 to $21.00 in a research report on Thursday, February 22nd. Barclays started coverage on Privia Health Group in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $22.00 target price on the stock. Finally, Jefferies Financial Group started coverage on Privia Health Group in a research report on Monday, February 26th. They set a “buy” rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.92.

Privia Health Group Price Performance

NASDAQ:PRVA opened at $18.80 on Monday. Privia Health Group has a 1 year low of $17.54 and a 1 year high of $30.15. The stock’s 50 day simple moving average is $19.99 and its two-hundred day simple moving average is $21.33. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 98.95, a PEG ratio of 2.47 and a beta of 0.81.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings data 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). Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The firm had revenue of $440.80 million during the quarter, compared to the consensus estimate of $425.81 million. During the same period in the previous year, the firm earned $0.14 EPS. The business’s revenue was up 21.0% compared to the same quarter last year. As a group, analysts anticipate that Privia Health Group will post 0.26 EPS for the current year.

Insider Buying and Selling 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 stock was sold at an average price of $17.77, for a total value of $69,889.41. Following the completion of the sale, the chief financial officer now directly owns 262,279 shares in the company, valued at approximately $4,660,697.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 14.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Privia Health Group

Several hedge funds have recently made changes to their positions in PRVA. Norges Bank purchased a new stake in shares of Privia Health Group in the 4th quarter worth $27,959,000. Avidity Partners Management LP lifted its holdings in shares of Privia Health Group by 43.1% in the 3rd quarter. Avidity Partners Management LP now owns 1,545,100 shares of the company’s stock worth $35,537,000 after buying an additional 465,294 shares during the period. Riverbridge Partners LLC lifted its holdings in shares of Privia Health Group by 8.7% in the 4th quarter. Riverbridge Partners LLC now owns 4,342,385 shares of the company’s stock worth $100,005,000 after buying an additional 348,852 shares during the period. Northern Trust Corp lifted its stake in shares of Privia Health Group by 28.7% during the 3rd quarter. Northern Trust Corp now owns 1,344,327 shares of the company’s stock worth $30,920,000 after purchasing an additional 299,395 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Privia Health Group by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company’s stock worth $259,740,000 after purchasing an additional 274,345 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.