Evercore ISI Lowers Privia Health Group (NASDAQ:PRVA) Price Target to $20.00

Privia Health Group (NASDAQ:PRVA) had its price objective dropped by stock analysts at Evercore ISI from $23.00 to $20.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 16.89% from the stock’s current price.

PRVA has been the topic of several other reports. Baird R W raised Privia Health Group to a “strong-buy” rating in a research report on Thursday, May 30th. Citigroup assumed coverage on Privia Health Group in a research report on Monday, April 22nd. They set a “buy” rating and a $25.00 target price on the stock. Barclays dropped their target price on Privia Health Group from $22.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, May 20th. Stifel Nicolaus dropped their target price on Privia Health Group from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Truist Financial dropped their target price on Privia Health Group from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Privia Health Group currently has a consensus rating of “Moderate Buy” and an average price target of $24.54.

Privia Health Group Price Performance

NASDAQ PRVA opened at $17.11 on Tuesday. The stock’s fifty day moving average price is $17.30 and its 200 day moving average price is $19.43. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 114.07, a PEG ratio of 2.67 and a beta of 0.78. Privia Health Group has a 1 year low of $15.92 and a 1 year high of $28.23.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The company had revenue of $415.24 million for the quarter, compared to analyst estimates of $435.07 million. Privia Health Group had a return on equity of 3.13% and a net margin of 1.11%. Research analysts expect that Privia Health Group will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In other Privia Health Group news, EVP Thomas Bartrum sold 2,252 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 value of $41,481.84. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Privia Health Group 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 value of $203,706.78. Following the transaction, the director now directly owns 70,101 shares of the company’s stock, valued at approximately $1,291,260.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Bartrum sold 2,252 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $1,913,138.04. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 293,235 shares of company stock valued at $4,745,481 and have sold 45,457 shares valued at $827,810. Corporate insiders own 14.20% of the company’s stock.

Institutional Trading of Privia Health Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Yousif Capital Management LLC increased its holdings in shares of Privia Health Group by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 52,628 shares of the company’s stock worth $1,212,000 after buying an additional 563 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Privia Health Group by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,970 shares of the company’s stock worth $176,000 after buying an additional 756 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Privia Health Group by 44.9% during the 4th quarter. Benjamin Edwards Inc. now owns 3,239 shares of the company’s stock worth $75,000 after buying an additional 1,003 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Privia Health Group by 1.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 60,841 shares of the company’s stock worth $1,192,000 after buying an additional 1,013 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Privia Health Group by 25.5% during the 1st quarter. Covestor Ltd now owns 5,292 shares of the company’s stock worth $104,000 after buying an additional 1,076 shares during the last quarter. Institutional investors and hedge funds 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.