Citigroup Begins Coverage on Privia Health Group (NASDAQ:PRVA)

Citigroup started coverage on shares of Privia Health Group (NASDAQ:PRVA) in a research report report published on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $25.00 target price on the stock.

A number of other analysts also recently issued reports on PRVA. JPMorgan Chase & Co. lowered their price objective on shares of Privia Health Group from $38.00 to $30.00 and set an overweight rating on the stock in a report on Wednesday, March 6th. Evercore ISI cut their target price 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. TD Cowen cut their target price on shares of Privia Health Group from $30.00 to $26.00 and set an outperform rating for the company in a research note on Friday, March 1st. Canaccord Genuity Group cut their target price 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. Finally, UBS Group cut their target price on shares of Privia Health Group from $31.00 to $29.00 and set a buy rating for the company in a research note on Friday, March 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Privia Health Group currently has a consensus rating of Moderate Buy and a consensus price target of $27.92.

Privia Health Group Stock Performance

Shares of PRVA opened at $18.17 on Monday. The firm has a market cap of $2.16 billion, a P/E ratio of 95.64, a PEG ratio of 2.47 and a beta of 0.81. Privia Health Group has a twelve month low of $17.54 and a twelve month high of $30.15. The firm’s 50 day moving average price is $19.93 and its two-hundred day moving average price is $21.30.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Privia Health Group had a net margin of 1.39% and a return on equity of 3.97%. The company had revenue of $440.80 million during the quarter, compared to the consensus estimate of $425.81 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The company’s revenue was up 21.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Privia Health Group will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO David Mountcastle sold 3,933 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total value of $69,889.41. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd grew its holdings in shares of Privia Health Group by 8.3% during the 3rd quarter. Covestor Ltd now owns 6,703 shares of the company’s stock valued at $154,000 after purchasing an additional 514 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Privia Health Group by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 52,628 shares of the company’s stock valued at $1,212,000 after purchasing an additional 563 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Privia Health Group by 2.7% in the 3rd quarter. New York State Common Retirement Fund now owns 27,966 shares of the company’s stock valued at $643,000 after purchasing an additional 737 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 purchasing an additional 756 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Privia Health Group by 0.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 107,711 shares of the company’s stock valued at $2,477,000 after purchasing an additional 976 shares during the last quarter. 94.48% of the stock is owned by 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.