Privia Health Group (NASDAQ:PRVA) received an increase in its target price from Citizens Jmp, moving from $30.00 to $31.00 in a research report published on Friday morning. Citizens Jmp rates the stock as “market outperform,” indicating a positive outlook compared to its peers.
Several other brokerages have also recently provided insights on Privia Health Group. On October 8, Weiss Ratings maintained a “sell (d+)” rating for the company’s shares. In contrast, Citigroup reaffirmed an “outperform” rating for the stock on August 29. On the same day, JMP Securities raised their target price from $29.00 to $30.00 while keeping a “market outperform” rating. Additionally, Piper Sandler lowered their price target from $36.00 to $35.00 and designated the stock as “overweight” in a report issued on August 11. Furthermore, Zacks Research upgraded Privia Health Group from a “strong sell” rating to a “hold” rating on August 19.
Overall, twelve research analysts have rated Privia Health Group with a “buy” rating, two have assigned a “hold” rating, and one has given it a “sell” rating. According to data from MarketBeat.com, the stock currently holds an average rating of “Moderate Buy” and has a consensus price target of $29.25.
Recent Financial Performance
Privia Health Group announced its quarterly earnings on June 7, reporting an earnings per share (EPS) of $0.10 for the quarter, with total revenue reaching $213.61 million. The company recorded a return on equity of 2.52% and a net margin of 0.89%. Analysts project that the company will achieve an EPS of $0.14 for the current fiscal year, reflecting expectations for modest growth.
Institutional Investment Trends
Institutional investors have been actively adjusting their positions in Privia Health Group. CWM LLC raised its holdings by 50.3% in the first quarter, acquiring an additional 604 shares to total 1,804 shares valued at approximately $40,000. Russell Investments Group Ltd. significantly increased its stake by an astounding 2,852.2%, now holding 2,657 shares valued at around $60,000 after acquiring 2,567 shares during the same period.
Meanwhile, Caitong International Asset Management Co. Ltd. boosted its position by 2,115.3%, owning 3,323 shares valued at about $75,000. Vestcor Inc. also entered the market with a new position valued at approximately $76,000, while the Canada Pension Plan Investment Board increased its stake by 48.0% in the second quarter, owning 3,700 shares worth around $85,000 after purchasing an additional 1,200 shares.
Institutional investors collectively own 94.48% of Privia Health Group’s stock, indicating strong institutional confidence in the company’s future performance.
Privia Health Group operates as a national physician-enablement company across the United States, working collaboratively with medical groups and health plans to enhance physician practices and improve patient experiences in both in-person and virtual settings. As the company navigates these developments, analysts and investors will be closely monitoring its performance and market trends.
