Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Phreesia, Inc. $PHR

Key Points

• Connor Clark & Lunn Investment Management acquired 609,704 Phreesia shares worth approximately $6.27 million, representing a 0.99% stake. Institutional investors collectively own 92.10% of the company.
• Phreesia reported quarterly EPS of $0.05, beating estimates by $0.03, while revenue rose 12.9% year over year to $130.94 million. Analysts expect full-year EPS of $0.39.
• PHR shares opened at $11.90, compared with a 12-month range of $7.77 to $32.76. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $16.65.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Phreesia, Inc. (NYSE:PHR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 609,704 shares of the company's stock, valued at approximately $6,274,000. Connor Clark & Lunn Investment Management Ltd. owned 0.99% of Phreesia as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Pale Fire Capital SE acquired a new position in Phreesia during the 1st quarter valued at about $72,481,000. BlackRock Inc. acquired a new position in shares of Phreesia during the second quarter valued at approximately $72,234,000. Vanguard Group Inc. raised its holdings in Phreesia by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company's stock worth $97,194,000 after purchasing an additional 39,540 shares in the last quarter. Granahan Investment Management LLC lifted its position in Phreesia by 73.8% in the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company's stock worth $40,601,000 after purchasing an additional 1,018,987 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Phreesia by 28.8% during the 4th quarter. Franklin Resources Inc. now owns 2,000,082 shares of the company's stock valued at $33,841,000 after purchasing an additional 446,890 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors.

Phreesia Price Performance

Shares of NYSE:PHR opened at $11.90 on Friday. Phreesia, Inc. has a twelve month low of $7.77 and a twelve month high of $32.76. The company has a market cap of $735.54 million, a price-to-earnings ratio of 79.33 and a beta of 0.85. The business has a 50 day moving average price of $10.97 and a 200 day moving average price of $10.48. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.41.

Phreesia (NYSE:PHR - Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Phreesia had a return on equity of 5.13% and a net margin of 1.85%.The business had revenue of $130.94 million during the quarter, compared to the consensus estimate of $130.08 million. During the same quarter last year, the company earned ($0.07) EPS. Phreesia's revenue was up 12.9% on a year-over-year basis. Research analysts predict that Phreesia, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PHR shares. Wall Street Zen upgraded Phreesia from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $9.00 price objective (down from $15.00) on shares of Phreesia in a research note on Wednesday, May 20th. Truist Financial increased their target price on shares of Phreesia from $11.00 to $12.00 and gave the company a "hold" rating in a research note on Thursday, May 28th. Barclays restated an "equal weight" rating and set a $10.00 target price (down from $24.00) on shares of Phreesia in a report on Thursday, May 14th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $14.00 price target on shares of Phreesia in a report on Thursday, May 28th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $16.65.

Phreesia Company Profile

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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