Privia Health Group (NASDAQ:PRVA) Sets New 12-Month Low at $16.90

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $16.90 and last traded at $17.18, with a volume of 129894 shares trading hands. The stock had previously closed at $18.86.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PRVA shares. Stifel Nicolaus cut their price target on shares of Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Bank of America downgraded shares of Privia Health Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $27.00 to $21.00 in a research note on Thursday, February 22nd. Evercore ISI dropped 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. Citigroup began coverage on shares of Privia Health Group in a research note on Monday, April 22nd. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Canaccord Genuity Group dropped their price objective on shares of Privia Health Group from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Privia Health Group presently has an average rating of “Moderate Buy” and an average price target of $26.58.

Privia Health Group Price Performance

The stock has a 50 day moving average of $19.49 and a two-hundred day moving average of $21.02. The stock has a market capitalization of $2.10 billion, a PE ratio of 99.27, a P/E/G ratio of 2.56 and a beta of 0.81.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $440.80 million for the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.14 earnings per share. As a group, research analysts predict that Privia Health Group, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity at Privia Health Group

In other Privia Health Group news, Director Matthew Shawn Morris sold 11,059 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total value of $203,706.78. Following the sale, the director now directly owns 70,101 shares in the company, valued at $1,291,260.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Matthew Shawn Morris sold 11,059 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total transaction of $203,706.78. Following the transaction, the director now directly owns 70,101 shares of the company’s stock, valued at $1,291,260.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas Bartrum sold 2,252 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $18.42, for a total transaction of $41,481.84. Following the completion of the transaction, the executive vice president now directly owns 103,862 shares of the company’s stock, valued at approximately $1,913,138.04. The disclosure for this sale can be found here. Insiders have sold a total of 31,783 shares of company stock valued at $582,886 over the last quarter. 14.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Privia Health Group by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 4,040,027 shares of the company’s stock worth $92,921,000 after purchasing an additional 62,543 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of Privia Health Group by 33.8% in the 3rd quarter. New York State Teachers Retirement System now owns 58,204 shares of the company’s stock valued at $1,339,000 after purchasing an additional 14,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Privia Health Group by 13.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,829 shares of the company’s stock worth $479,000 after acquiring an additional 2,518 shares during the last quarter. Strs Ohio raised its position in Privia Health Group by 42.9% during the 3rd quarter. Strs Ohio now owns 20,000 shares of the company’s stock valued at $460,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Privia Health Group by 3.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 30,300 shares of the company’s stock valued at $697,000 after purchasing an additional 1,100 shares in the last quarter. 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.