William Blair Equities Analysts Decrease Earnings Estimates for Privia Health Group, Inc. (NASDAQ:PRVA)

Privia Health Group, Inc. (NASDAQ:PRVA) – Analysts at William Blair lowered their Q2 2024 earnings per share (EPS) estimates for Privia Health Group in a note issued to investors on Thursday, August 8th. William Blair analyst R. Daniels now expects that the company will earn $0.03 per share for the quarter, down from their previous estimate of $0.05. The consensus estimate for Privia Health Group’s current full-year earnings is $0.19 per share.

Several other research analysts have also issued reports on PRVA. Citigroup assumed coverage on Privia Health Group in a research note on Monday, April 22nd. They set a “buy” rating and a $25.00 price objective for the company. Robert W. Baird assumed coverage on Privia Health Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $23.00 target price for the company. Canaccord Genuity Group lowered their target price on Privia Health Group from $37.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Stifel Nicolaus lowered their target price on Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Truist Financial lowered their target price on Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Privia Health Group currently has an average rating of “Moderate Buy” and a consensus target price of $24.54.

Privia Health Group Price Performance

Privia Health Group stock opened at $19.07 on Friday. The stock has a fifty day moving average price of $18.15 and a two-hundred day moving average price of $18.99. Privia Health Group has a 52-week low of $15.92 and a 52-week high of $27.40. The firm has a market capitalization of $2.28 billion, a P/E ratio of 127.13, a P/E/G ratio of 3.18 and a beta of 0.78.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Thursday, May 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). Privia Health Group had a return on equity of 3.13% and a net margin of 1.11%. The firm had revenue of $415.24 million during the quarter, compared to the consensus estimate of $435.07 million.

Institutional Trading of Privia Health Group

Several hedge funds and other institutional investors have recently modified their holdings of PRVA. International Assets Investment Management LLC grew its stake in shares of Privia Health Group by 2,721.7% during the 4th quarter. International Assets Investment Management LLC now owns 7,139 shares of the company’s stock worth $164,000 after acquiring an additional 6,886 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Privia Health Group in the 4th quarter valued at $305,000. Allspring Global Investments Holdings LLC lifted its position in Privia Health Group by 30.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,214 shares of the company’s stock worth $189,000 after buying an additional 1,928 shares in the last quarter. Simplicity Solutions LLC acquired a new position in shares of Privia Health Group during the 4th quarter worth about $305,000. Finally, WCM Investment Management LLC grew its holdings in shares of Privia Health Group by 9.3% in the 4th quarter. WCM Investment Management LLC now owns 549,087 shares of the company’s stock valued at $13,145,000 after acquiring an additional 46,556 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insiders Place Their Bets

In related news, Director Adam Boehler bought 277,565 shares of Privia Health Group stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $16.17 per share, for a total transaction of $4,488,226.05. Following the completion of the acquisition, the director now owns 5,488,701 shares in the company, valued at $88,752,295.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Adam Boehler bought 277,565 shares of Privia Health Group stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $16.17 per share, for a total transaction of $4,488,226.05. Following the completion of the acquisition, the director now owns 5,488,701 shares in the company, valued at $88,752,295.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas A. Mccarthy bought 10,000 shares of Privia Health Group stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $16.37 per share, for a total transaction of $163,700.00. Following the acquisition, the director now owns 52,611 shares of the company’s stock, valued at approximately $861,242.07. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 293,235 shares of company stock worth $4,745,481. Insiders own 14.20% 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.