Analysts at Citizens Jmp have increased their price target for Privia Health Group (NASDAQ: PRVA) from $30.00 to $31.00, reflecting a potential upside of 32.31% from the stock’s previous close. This revision, detailed in a note issued to investors on Friday, maintains a “market outperform” rating for the healthcare company.
The upward adjustment follows a series of positive evaluations from various analysts. On October 9, Barclays raised its price target for Privia Health Group from $21.00 to $22.00, assigning an “equal weight” rating. In a report released on August 29, JMP Securities also increased its target from $29.00 to $30.00 while maintaining a “market outperform” rating. Additionally, Citigroup reaffirmed an “outperform” rating on the same day.
Further adjustments included Piper Sandler, which reduced its price target from $36.00 to $35.00 and classified the stock as “overweight” on August 11. In contrast, Zacks Research upgraded its rating from “strong sell” to “hold” on August 19. Overall, twelve investment analysts have rated Privia Health Group with a Buy rating, two have assigned a Hold rating, and one has issued a Sell rating. According to MarketBeat.com, the average rating for the stock stands at “Moderate Buy,” with an average price target of $29.25.
Recent Financial Performance
Privia Health Group’s latest quarterly earnings data was released on June 7, where the company reported earnings of $0.10 per share. The company achieved a return on equity of 2.52% and a net margin of 0.89%. Revenue for the quarter reached $213.61 million. Analysts project that Privia Health Group will post earnings of $0.14 per share for the current year.
Institutional Investment Activity
Recent changes in institutional investment have also influenced the company’s stock dynamics. Van Berkom & Associates Inc. purchased a new stake in Privia Health Group valued at approximately $45.2 million during the first quarter. Meanwhile, UBS Asset Management increased its holdings by 180.4%, acquiring an additional 1,693,870 shares, bringing their total to 2,633,040 shares worth around $59.1 million.
Other significant transactions included Nuveen LLC, which bought a stake valued at approximately $26.9 million, and Vanguard Group Inc., which raised its stake by 5.3% during the third quarter, now holding 12,098,933 shares worth approximately $301.3 million. Overall, institutional investors own 94.48% of Privia Health Group’s stock, highlighting strong confidence in the company’s future.
As a national physician-enablement company, Privia Health Group collaborates with medical groups, health plans, and healthcare systems across the United States. The company aims to optimize physician practices, enhance patient experiences, and incentivize doctors for delivering care in both in-person and virtual settings.
The recent adjustments in analysts’ ratings and price targets reflect an optimistic outlook for Privia Health Group, as it navigates the complexities of the healthcare market.
