Flputnam Investment Management Co. Takes $1.66 Million Position in Phreesia, Inc. $PHR

Key Points

• Flputnam Investment Management acquired 160,903 Phreesia shares worth approximately $1.66 million, giving it a 0.26% stake. Institutional investors and hedge funds collectively own 92.10% of the company.
• Analyst sentiment remains mixed: Phreesia has an average “Hold” rating and a consensus price target of $16.65, though recent targets ranged from $10 to $16 and several firms revised ratings or estimates.
• Phreesia exceeded quarterly expectations, reporting $0.05 in EPS versus $0.02 expected and $130.94 million in revenue, up 12.9% year over year. Shares opened at $11.54, with a 52-week range of $7.77 to $32.76.

Flputnam Investment Management Co. bought a new stake 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 fund bought 160,903 shares of the company's stock, valued at approximately $1,656,000. Flputnam Investment Management Co. owned about 0.26% of Phreesia at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pale Fire Capital SE acquired a new stake in Phreesia during the first quarter worth approximately $72,481,000. Granahan Investment Management LLC boosted its stake in Phreesia by 73.8% in the 4th quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company's stock worth $40,601,000 after buying an additional 1,018,987 shares during the last quarter. Prosight Management LP purchased a new stake in Phreesia in the 4th quarter valued at about $16,533,000. Millennium Management LLC grew its holdings in Phreesia by 730.7% in the 3rd quarter. Millennium Management LLC now owns 1,064,132 shares of the company's stock valued at $25,028,000 after buying an additional 936,033 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Phreesia during the 4th quarter valued at about $15,213,000. 92.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PHR has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Phreesia from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Barclays reaffirmed an "equal weight" rating and issued a $10.00 target price (down from $24.00) on shares of Phreesia in a research report on Thursday, May 14th. Citigroup reiterated a "market perform" rating on shares of Phreesia in a report on Friday, May 29th. Canaccord Genuity Group dropped their price target on Phreesia from $22.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, May 28th. Finally, Piper Sandler downgraded Phreesia from an "overweight" rating to a "neutral" rating and set a $12.00 price objective on the stock. in a report on Thursday, May 28th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Phreesia presently has an average rating of "Hold" and an average target price of $16.65.

Phreesia Price Performance

PHR stock opened at $11.54 on Tuesday. The stock's 50 day moving average is $10.56 and its two-hundred day moving average is $10.56. Phreesia, Inc. has a 52-week low of $7.77 and a 52-week high of $32.76. The company has a market capitalization of $713.31 million, a PE ratio of 76.93 and a beta of 0.85. 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 released its earnings results on Wednesday, May 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The company had revenue of $130.94 million during the quarter, compared to the consensus estimate of $130.08 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. The company's revenue was up 12.9% on a year-over-year basis. Analysts predict that Phreesia, Inc. will post 0.39 earnings per share for the current fiscal year.

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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