Analysts at Citizens Jmp have increased their price target for Privia Health Group (NASDAQ: PRVA) from $30.00 to $31.00, indicating a potential upside of 32.31% based on the company’s previous closing price. This adjustment was highlighted in a note issued to investors on Friday, as reported by Benzinga. Citizens Jmp currently rates Privia Health as “market outperform.”
Several other financial institutions have also provided updates regarding their outlook on Privia Health Group. On October 9, 2023, Barclays raised its price target from $21.00 to $22.00, while maintaining an “equal weight” rating. JMP Securities similarly adjusted its target from $29.00 to $30.00 in a note released on August 29, 2023, where they also assigned a “market outperform” rating. Citigroup reaffirmed an “outperform” rating for the stock on the same day.
Piper Sandler, on the other hand, lowered its price target from $36.00 to $35.00, categorizing the stock as “overweight” in a report dated August 11, 2023. Zacks Research upgraded Privia Health from a “strong sell” rating to a “hold” rating on August 19, 2023.
Overall, twelve investment analysts have rated Privia Health Group as a buy, while two have given it a hold rating, and one has issued a sell rating. According to data from MarketBeat.com, the stock maintains an average rating of “Moderate Buy” with a price target averaging $29.25.
Recent Financial Performance
Privia Health Group released its quarterly earnings data on June 7, 2023, reporting earnings per share (EPS) of $0.10 for the quarter. The company achieved a return on equity of 2.52% and a net margin of 0.89%. Revenues for the quarter totaled $213.61 million. Analysts predict that Privia Health will post an EPS of $0.14 for the current fiscal year.
Institutional Investors’ Activity
Recent activity among institutional investors reflects growing interest in Privia Health Group. Van Berkom & Associates Inc. acquired a new stake in the company worth $45.2 million during the first quarter. UBS Asset Management Americas LLC significantly increased its holdings by 180.4%, now owning 2,633,040 shares valued at approximately $59.1 million after adding 1,693,870 shares during the same period.
Other notable transactions include Nuveen LLC, which purchased a new stake valued at about $26.9 million, and Vanguard Group Inc., which lifted its stake by 5.3% in the third quarter, now holding 12,098,933 shares worth approximately $301.3 million. Institutional investors collectively own 94.48% of Privia Health Group’s stock.
Privia Health Group, Inc. operates as a national physician-enablement company in the United States. It collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and incentivize doctors for delivering care in both in-person and virtual settings.
