Invesco Ltd. Boosts Stake in Privia Health Group, Inc. $PRVA

Key Points

• Invesco Ltd. increased its stake in Privia Health Group, Inc. by 4.3%, acquiring an additional 15,945 shares, bringing its total ownership to 389,784 shares valued at approximately $8.75 million.
• Numerous other investors, including CWM LLC and Bessemer Group Inc., also raised their stakes significantly in Privia Health Group during the same quarter, showcasing strong institutional interest in the company.
• Analysts have varying opinions on Privia Health Group's stock, with a consensus rating of "Moderate Buy" and a target price range between $24.00 and $35.00, indicating expectations for future growth despite recent earnings misses.

Invesco Ltd. increased its holdings in Privia Health Group, Inc. (NASDAQ:PRVA - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 389,784 shares of the company's stock after acquiring an additional 15,945 shares during the quarter. Invesco Ltd. owned approximately 0.32% of Privia Health Group worth $8,751,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PRVA. Van Berkom & Associates Inc. purchased a new stake in Privia Health Group in the first quarter worth about $45,207,000. Durable Capital Partners LP grew its stake in Privia Health Group by 3.4% in the fourth quarter. Durable Capital Partners LP now owns 11,487,843 shares of the company's stock valued at $224,587,000 after purchasing an additional 378,255 shares during the last quarter. Royce & Associates LP purchased a new position in Privia Health Group in the first quarter valued at about $6,818,000. Nuveen Asset Management LLC grew its stake in Privia Health Group by 19.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,488,979 shares of the company's stock valued at $29,110,000 after purchasing an additional 246,393 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Privia Health Group in the fourth quarter valued at about $4,321,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PRVA. Evercore ISI cut their target price on Privia Health Group from $30.00 to $28.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 9th. JPMorgan Chase & Co. increased their price target on Privia Health Group from $29.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Zacks Research upgraded Privia Health Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Piper Sandler dropped their price target on Privia Health Group from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Monday, August 11th. Finally, Barclays boosted their price target on Privia Health Group from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $28.00.

Privia Health Group Stock Up 0.3%

Shares of PRVA stock traded up $0.06 during mid-day trading on Thursday, hitting $21.81. 502,517 shares of the stock were exchanged, compared to its average volume of 835,898. The firm has a fifty day moving average of $20.89 and a 200 day moving average of $22.68. Privia Health Group, Inc. has a 52-week low of $16.47 and a 52-week high of $26.09. The company has a market cap of $2.68 billion, a PE ratio of 198.29, a price-to-earnings-growth ratio of 3.10 and a beta of 0.80.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $521.15 million for the quarter, compared to analysts' expectations of $466.97 million. Privia Health Group had a return on equity of 2.13% and a net margin of 0.78%.The company's revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. Privia Health Group has set its FY 2025 guidance at EPS. Equities analysts predict that Privia Health Group, Inc. will post 0.14 EPS for the current year.

Privia Health Group Company Profile

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.