Privia Health Group (NASDAQ:PRVA – Get Free Report) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Thursday, Marketbeat reports. They presently have a $21.00 target price on the stock, down from their prior target price of $27.00. Bank of America‘s price target points to a potential upside of 7.75% from the company’s current price.
PRVA has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on shares of Privia Health Group from $43.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, November 17th. JMP Securities assumed coverage on shares of Privia Health Group in a report on Wednesday, December 6th. They issued an “outperform” rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.90.
Get Our Latest Analysis on Privia Health Group
Privia Health Group Stock Down 1.6 %
Shares of Privia Health Group stock opened at $19.49 on Thursday. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 62.87, a PEG ratio of 1.89 and a beta of 0.80. Privia Health Group has a 12-month low of $19.17 and a 12-month high of $30.15. The firm’s 50-day moving average price is $21.74 and its two-hundred day moving average price is $22.74.
Insider Activity at Privia Health Group
In related news, Director William M. Sullivan sold 9,951 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $23.03, for a total value of $229,171.53. Following the completion of the transaction, the director now owns 5,464,533 shares in the company, valued at approximately $125,848,194.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Privia Health Group news, Director William M. Sullivan sold 9,951 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $23.03, for a total transaction of $229,171.53. Following the completion of the sale, the director now owns 5,464,533 shares of the company’s stock, valued at approximately $125,848,194.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William M. Sullivan sold 12,000 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $23.97, for a total transaction of $287,640.00. Following the sale, the director now directly owns 5,474,484 shares of the company’s stock, valued at approximately $131,223,381.48. The disclosure for this sale can be found here. 57.60% of the stock is owned by company insiders.
Institutional Trading of Privia Health Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRVA. BlackRock Inc. increased its position in Privia Health Group by 201.7% during the 2nd quarter. BlackRock Inc. now owns 13,938,867 shares of the company’s stock valued at $363,944,000 after purchasing an additional 9,319,052 shares during the period. Durable Capital Partners LP acquired a new stake in shares of Privia Health Group during the 2nd quarter worth approximately $237,364,000. Point72 Asset Management L.P. acquired a new stake in shares of Privia Health Group during the 4th quarter worth approximately $44,811,000. Millennium Management LLC grew its position in shares of Privia Health Group by 183.8% during the 4th quarter. Millennium Management LLC now owns 2,996,072 shares of the company’s stock worth $68,041,000 after buying an additional 1,940,218 shares during the period. Finally, State Street Corp grew its position in shares of Privia Health Group by 138.0% during the 2nd quarter. State Street Corp now owns 2,979,093 shares of the company’s stock worth $77,784,000 after buying an additional 1,727,559 shares during the period. Institutional investors and hedge funds own 92.40% of the company’s stock.
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.
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Source: americanbankingnews.com
