Virtus Advisers LLC Takes $235,000 Position in Phreesia, Inc. $PHR

Key Points

• Virtus Advisers LLC purchased 9,177 shares of Phreesia, Inc. for approximately $235,000 in the first quarter, highlighting growing institutional interest in the company.
• Phreesia's shares recently received an upgrade from analysts, with several firms increasing their price targets and giving it a consensus rating of "Buy."
• Insiders, including Director Mark Douglas Smith, sold a total of 53,882 shares valued at over $1.5 million in the last quarter, indicating potential profit-taking among company executives.

Virtus Advisers LLC purchased a new stake in shares of Phreesia, Inc. (NYSE:PHR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,177 shares of the company's stock, valued at approximately $235,000.

Other large investors have also made changes to their positions in the company. Invesco Ltd. increased its position in shares of Phreesia by 0.9% in the fourth quarter. Invesco Ltd. now owns 40,249 shares of the company's stock valued at $1,013,000 after buying an additional 357 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Phreesia by 12.1% in the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company's stock valued at $107,000 after acquiring an additional 459 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings in Phreesia by 0.7% in the 1st quarter. Arcadia Investment Management Corp MI now owns 92,770 shares of the company's stock valued at $2,371,000 after buying an additional 615 shares during the period. QRG Capital Management Inc. raised its position in Phreesia by 8.0% in the first quarter. QRG Capital Management Inc. now owns 11,118 shares of the company's stock valued at $284,000 after purchasing an additional 827 shares during the period. Finally, Johnson Financial Group Inc. raised its position in Phreesia by 381.3% in the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company's stock valued at $28,000 after purchasing an additional 896 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Phreesia

In other Phreesia news, Director Mark Douglas Smith sold 7,000 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $29.00, for a total value of $203,000.00. Following the completion of the transaction, the director directly owned 37,353 shares of the company's stock, valued at approximately $1,083,237. The trade was a 15.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Evan Roberts sold 1,892 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $26.89, for a total transaction of $50,875.88. Following the transaction, the chief operating officer owned 772,915 shares in the company, valued at $20,783,684.35. The trade was a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,327 shares of company stock worth $2,031,647. 5.50% of the stock is currently owned by company insiders.

Phreesia Stock Performance

NYSE PHR traded up $0.56 during trading on Thursday, reaching $32.55. 1,141,290 shares of the company's stock were exchanged, compared to its average volume of 726,665. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02. The company's fifty day simple moving average is $27.81 and its 200-day simple moving average is $26.47. Phreesia, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $32.76.

Phreesia (NYSE:PHR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. Phreesia had a negative return on equity of 16.23% and a negative net margin of 9.83%.The business had revenue of $115.94 million during the quarter, compared to analysts' expectations of $115.00 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. The firm's revenue was up 14.5% compared to the same quarter last year. On average, research analysts expect that Phreesia, Inc. will post -1.1 EPS for the current year.

Analysts Set New Price Targets

PHR has been the topic of a number of analyst reports. Mizuho assumed coverage on Phreesia in a research note on Wednesday. They issued an "outperform" rating and a $36.00 price target on the stock. Canaccord Genuity Group lowered their target price on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Truist Financial upped their target price on Phreesia from $34.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Citigroup restated a "buy" rating on shares of Phreesia in a research report on Wednesday, May 28th. Finally, KeyCorp upped their target price on shares of Phreesia from $28.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to data from MarketBeat, Phreesia presently has a consensus rating of "Buy" and an average target price of $32.58.

About Phreesia

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.