Privia Health Group logoPrivia Health Group (NASDAQ:PRVA – Get Rating) had its price target hoisted by equities research analysts at Canaccord Genuity Group from $40.00 to $45.00 in a note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 22.85% from the stock’s current price.

Several other research firms have also recently issued reports on PRVA. Credit Suisse Group increased their price target on Privia Health Group from $33.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday. Bank of America started coverage on Privia Health Group in a research note on Tuesday, May 3rd. They set a “buy” rating and a $27.00 target price for the company. Truist Financial raised their target price on Privia Health Group from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Friday. Cowen raised their target price on Privia Health Group from $35.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Guggenheim raised their target price on Privia Health Group from $36.00 to $51.00 and gave the company a “buy” rating in a research note on Friday. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $42.33.

Privia Health Group Trading Down 3.3%

NASDAQ:PRVA opened at $36.63 on Friday. Privia Health Group has a 1 year low of $17.99 and a 1 year high of $41.85. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of -79.63 and a beta of 1.17. The business has a fifty day moving average of $32.34 and a 200-day moving average of $27.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24.

Privia Health Group (NASDAQ:PRVA – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.15. Privia Health Group had a negative return on equity of 9.60% and a negative net margin of 4.17%. The company had revenue of $313.80 million during the quarter, compared to analysts’ expectations of $296.36 million. Equities analysts predict that Privia Health Group will post -0.16 earnings per share for the current year.

Insider Activity

In related news, EVP Thomas Bartrum sold 10,000 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $25.01, for a total value of $250,100.00. Following the completion of the sale, the executive vice president now directly owns 91.355 shares of the company’s stock, valued at approximately $2,284,788.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Privia Health Group news, COO Parth Mehrotra sold 40,000 shares of the company’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $25.01, for a total value of $1,000,400.00. Following the transaction, the chief operating officer now directly owns 97,391 shares of the company’s stock, valued at approximately $2,435,748.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Bartrum sold 10,000 shares of the company’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $25.01, for a total value of $250,100.00. Following the completion of the transaction, the executive vice president now directly owns 91,355 shares in the company, valued at $2,284,788.55. The disclosure for this sale can be found here. Insiders sold a total of 643,921 shares of company stock valued at $20,595,512 over the last three months. Insiders own 57.60% of the company’s stock.

Institutional Trading of Privia Health Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of Privia Health Group in the 2nd quarter worth approximately $391,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Privia Health Group in the 2nd quarter worth approximately $286,000. Renaissance Technologies LLC lifted its position in shares of Privia Health Group by 137.3% in the 2nd quarter. Renaissance Technologies LLC now owns 128,400 shares of the company’s stock worth $3,739,000 after acquiring an additional 74,300 shares during the period. Northern Trust Corp lifted its position in shares of Privia Health Group by 4.0% in the 2nd quarter. Northern Trust Corp now owns 510,183 shares of the company’s stock worth $14,857,000 after acquiring an additional 19,768 shares during the period. Finally, Ensign Peak Advisors Inc lifted its position in shares of Privia Health Group by 75.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 6,290 shares of the company’s stock worth $183,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 63.77% of the company’s stock.

About Privia Health Group

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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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