Privia Health Group (NASDAQ:PRVA) Given New $27.00 Price Target at Truist Financial

Privia Health Group (NASDAQ:PRVA) had its price target hoisted by investment analysts at Truist Financial from $24.00 to $27.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 20.48% from the company’s current price.

Several other research analysts have also recently issued reports on PRVA. Robert W. Baird raised their price objective on Privia Health Group from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, August 26th. KeyCorp assumed coverage on shares of Privia Health Group in a research report on Friday, October 11th. They set an “overweight” rating and a $23.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 target price on shares of Privia Health Group in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Privia Health Group currently has an average rating of “Buy” and an average price target of $24.93.

Privia Health Group Stock Down 0.5 %

NASDAQ:PRVA traded down $0.12 on Friday, reaching $22.41. 67,710 shares of the company’s stock traded hands, compared to its average volume of 863,154. Privia Health Group has a 12 month low of $15.92 and a 12 month high of $24.35. The stock has a 50-day simple moving average of $18.41 and a 200-day simple moving average of $18.34. The firm has a market cap of $2.68 billion, a PE ratio of 186.75, a P/E/G ratio of 4.36 and a beta of 0.76.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $422.30 million during the quarter, compared to the consensus estimate of $411.50 million. Privia Health Group had a return on equity of 2.42% and a net margin of 0.88%. Privia Health Group’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. On average, equities analysts anticipate that Privia Health Group will post 0.17 earnings per share for the current year.

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, CEO Parth Mehrotra sold 135,142 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.50, for a total value of $2,500,127.00. Following the transaction, the chief executive officer now directly owns 247,771 shares in the company, valued at approximately $4,583,763.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 14.20% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

A number of institutional investors have recently added to or reduced their stakes in PRVA. Allspring Global Investments Holdings LLC raised its holdings in Privia Health Group by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,970 shares of the company’s stock valued at $176,000 after acquiring an additional 756 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Privia Health Group by 18.2% in the first quarter. Janney Montgomery Scott LLC now owns 60,306 shares of the company’s stock valued at $1,181,000 after buying an additional 9,286 shares in the last quarter. Texas Permanent School Fund Corp grew its position in Privia Health Group by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 89,896 shares of the company’s stock worth $1,761,000 after purchasing an additional 1,176 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Privia Health Group by 15.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,378 shares of the company’s stock worth $497,000 after purchasing an additional 3,487 shares during the period. Finally, Quantbot Technologies LP bought a new position in Privia Health Group in the 1st quarter worth approximately $196,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.