Bank of New York Mellon Corp Acquires Shares of 184,717 Phreesia, Inc. $PHR

Key Points

• Bank of New York Mellon acquired 184,717 Phreesia shares worth approximately $1.9 million, giving it a 0.30% stake. Institutional investors collectively own 92.10% of the company.
• Analyst sentiment remains mixed, with eight Buy, ten Hold and one Sell rating; the consensus rating is Hold with a $14.00 price target.
• Phreesia shares opened at $10.22 after falling 6.5%. The company’s latest revenue rose 10.4% year over year to $129.46 million, but quarterly EPS of $0.03 missed estimates by $0.06.

Bank of New York Mellon Corp acquired a new stake in shares of Phreesia, Inc. (NYSE:PHR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 184,717 shares of the company's stock, valued at approximately $1,901,000. Bank of New York Mellon Corp owned approximately 0.30% of Phreesia as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 3,001 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Phreesia by 78.7% in the 4th quarter. Van ECK Associates Corp now owns 2,502 shares of the company's stock worth $42,000 after buying an additional 1,102 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Phreesia during the 1st quarter valued at about $44,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Phreesia by 354.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,755 shares of the company's stock valued at $47,000 after acquiring an additional 2,149 shares during the last quarter. Finally, Essential Partners LLC lifted its holdings in shares of Phreesia by 2,016.6% in the 1st quarter. Essential Partners LLC now owns 9,313 shares of the company's stock valued at $78,000 after acquiring an additional 8,873 shares during the last quarter. 92.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PHR. Robert W. Baird raised their price objective on Phreesia from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday. Citigroup restated a "market perform" rating on shares of Phreesia in a report on Friday. Raymond James Financial cut shares of Phreesia from an "outperform" rating to a "market perform" rating in a research note on Tuesday. DA Davidson cut their price target on shares of Phreesia from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Friday. Finally, Weiss Ratings lowered shares of Phreesia from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.00.

Phreesia Stock Down 6.5%

Shares of NYSE PHR opened at $10.22 on Wednesday. Phreesia, Inc. has a 52-week low of $7.77 and a 52-week high of $27.11. The firm has a market capitalization of $634.67 million, a price-to-earnings ratio of 60.15 and a beta of 0.86. The stock has a 50 day moving average price of $11.26 and a 200 day moving average price of $10.45. 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 released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). Phreesia had a return on equity of 5.22% and a net margin of 2.06%.The firm had revenue of $129.46 million for the quarter, compared to analysts' expectations of $129.06 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. Sell-side analysts expect that Phreesia, Inc. will post 0.38 earnings per share for the current year.

About Phreesia

Phreesia, Inc NYSE: PHR is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company's cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.

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