Bank of America Corp DE Acquires 589,515 Shares of Phreesia, Inc. $PHR

Key Points

• Bank of America acquired 589,515 Phreesia shares during the second quarter, valued at approximately $6.1 million and representing about 0.95% of the company. Institutional investors collectively own 92.1% of Phreesia.
• Phreesia reported quarterly revenue of $129.46 million, up 10.4% year over year, but earnings per share of $0.03 missed analysts’ $0.09 estimate. The stock opened at $10.18, well below its 52-week high of $24.25.
• Analyst sentiment is mixed but leans neutral: eight analysts rate Phreesia a Buy, 10 rate it Hold, and one rates it Sell, producing a consensus Hold rating with a $14.00 price target.

Bank of America Corp DE acquired a new position in Phreesia, Inc. (NYSE:PHR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 589,515 shares of the company's stock, valued at approximately $6,066,000. Bank of America Corp DE owned about 0.95% of Phreesia as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its stake in Phreesia by 354.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,755 shares of the company's stock worth $47,000 after purchasing an additional 2,149 shares in the last quarter. Diversified Trust Co increased its position in shares of Phreesia by 5.8% during the 1st quarter. Diversified Trust Co now owns 54,418 shares of the company's stock valued at $456,000 after purchasing an additional 2,996 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Phreesia by 1,119.8% during the first quarter. EverSource Wealth Advisors LLC now owns 3,269 shares of the company's stock valued at $27,000 after acquiring an additional 3,001 shares during the last quarter. Anchor Investment Management LLC raised its position in Phreesia by 100.0% in the 1st quarter. Anchor Investment Management LLC now owns 10,000 shares of the company's stock worth $84,000 after purchasing an additional 5,000 shares during the period. Finally, New York State Teachers Retirement System purchased a new position in shares of Phreesia in the first quarter worth about $44,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Stock Performance

NYSE:PHR opened at $10.18 on Monday. The stock has a 50-day simple moving average of $11.09 and a two-hundred day simple moving average of $10.26. The firm has a market capitalization of $631.56 million, a PE ratio of 59.86 and a beta of 0.86. Phreesia, Inc. has a 52-week low of $7.77 and a 52-week high of $24.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 1.76.

Phreesia (NYSE:PHR - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $129.46 million for the quarter, compared to analysts' expectations of $129.06 million. Phreesia had a net margin of 2.06% and a return on equity of 5.22%. Phreesia's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 EPS. Analysts forecast that Phreesia, Inc. will post 0.33 EPS for the current year.

Wall Street Analyst Weigh In

PHR has been the topic of a number of analyst reports. Needham & Company LLC restated a "buy" rating and issued a $14.00 price objective on shares of Phreesia in a research report on Monday, August 31st. Canaccord Genuity Group restated a "buy" rating and set a $16.00 target price on shares of Phreesia in a report on Thursday, September 3rd. Robert W. Baird upped their price target on Phreesia from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Weiss Ratings lowered shares of Phreesia from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, September 4th. Finally, Citigroup reissued a "market perform" rating on shares of Phreesia in a report on Friday, September 4th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Phreesia currently has a consensus rating of "Hold" and a consensus target price of $14.00.

Insider Activity at Phreesia

In related news, General Counsel Allison C. Hoffman sold 6,662 shares of the company's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $10.08, for a total transaction of $67,152.96. Following the completion of the transaction, the general counsel owned 266,574 shares in the company, valued at approximately $2,687,065.92. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 5.20% of the company's stock.

Phreesia Company Profile

Phreesia, Inc is a healthcare technology company that provides software and services designed to help healthcare organizations manage patient intake and engagement. Its platform digitizes administrative and clinical processes that traditionally rely on paper forms, manual data entry, and separate payment systems.

The company's offerings include digital patient check-in and registration, insurance and demographic information collection, appointment-related communications, electronic forms and consent management, patient surveys, and payment processing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.