Bellevue Group AG Boosts Stake in Phreesia, Inc. (NYSE:PHR)

Bellevue Group AG raised its stake in shares of Phreesia, Inc. (NYSE:PHR) by 5.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 443,341 shares of the company’s stock after acquiring an additional 21,768 shares during the period. Bellevue Group AG owned approximately 0.79% of Phreesia worth $10,609,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PHR. Raymond James & Associates purchased a new stake in Phreesia in the 4th quarter valued at $226,000. Raymond James Financial Services Advisors Inc. increased its position in Phreesia by 18.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 17,927 shares of the company’s stock worth $415,000 after purchasing an additional 2,805 shares in the last quarter. Trust Point Inc. acquired a new stake in Phreesia in the fourth quarter valued at approximately $239,000. WoodTrust Financial Corp acquired a new stake in Phreesia in the fourth quarter valued at approximately $382,000. Finally, International Assets Investment Management LLC grew its position in Phreesia by 1,987.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,482 shares of the company’s stock valued at $34,000 after acquiring an additional 1,411 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PHR. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a report on Friday, May 31st. Stephens reissued an “overweight” rating and set a $28.00 price target on shares of Phreesia in a report on Friday, May 31st. JMP Securities reissued a “market outperform” rating and set a $30.00 price target on shares of Phreesia in a report on Friday, May 31st. Truist Financial reissued a “buy” rating and set a $29.00 price target on shares of Phreesia in a report on Monday, July 1st. Finally, Canaccord Genuity Group reduced their price target on shares of Phreesia from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.54.

Insiders Place Their Bets

In other Phreesia news, Director Mark Douglas Smith sold 7,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $25.00, for a total transaction of $175,000.00. Following the sale, the director now owns 30,653 shares in the company, valued at approximately $766,325. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Mark Douglas Smith sold 7,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $25.00, for a total value of $175,000.00. Following the transaction, the director now owns 30,653 shares in the company, valued at approximately $766,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chaim Indig sold 2,644 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $23.74, for a total value of $62,768.56. Following the completion of the transaction, the chief executive officer now owns 1,219,361 shares in the company, valued at approximately $28,947,630.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,506 shares of company stock worth $375,299. Company insiders own 5.80% of the company’s stock.

Phreesia Price Performance

Phreesia stock traded up $0.35 during midday trading on Friday, hitting $24.77. The company’s stock had a trading volume of 394,560 shares, compared to its average volume of 440,717. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $21.30 and its 200-day moving average price is $23.12. Phreesia, Inc. has a 12 month low of $12.05 and a 12 month high of $32.11. The company has a market capitalization of $1.42 billion, a PE ratio of -11.41 and a beta of 0.93.

Phreesia (NYSE:PHR) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.16. Phreesia had a negative net margin of 31.87% and a negative return on equity of 46.89%. The firm had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $100.94 million. During the same period in the previous year, the business earned ($0.70) earnings per share. Phreesia’s revenue for the quarter was up 20.8% compared to the same quarter last year. Analysts anticipate that Phreesia, Inc. will post -1.16 earnings per share for the current fiscal year.

Phreesia Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.