Ieq Capital LLC Invests $3.69 Million in Phreesia, Inc. $PHR

Key Points

• Ieq Capital LLC purchased 358,537 Phreesia shares worth approximately $3.69 million during the second quarter, giving it roughly a 0.58% stake. Institutional investors collectively own 92.1% of the company.
• Phreesia reported quarterly EPS of $0.05, surpassing the $0.02 consensus estimate, while revenue rose 12.9% year over year to $130.94 million.
• PHR recently traded at $11.71, with analysts split between Buy and Hold ratings. The consensus rating is Hold, with an average price target of $16.65.

Ieq Capital LLC purchased a new position in shares of Phreesia, Inc. (NYSE:PHR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 358,537 shares of the company's stock, valued at approximately $3,689,000. Ieq Capital LLC owned about 0.58% of Phreesia at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in Phreesia by 1,119.8% in the 1st 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 in the last quarter. Van ECK Associates Corp boosted its position in shares of Phreesia by 78.7% in the fourth quarter. Van ECK Associates Corp now owns 2,502 shares of the company's stock valued at $42,000 after acquiring an additional 1,102 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Phreesia in the first quarter valued at about $44,000. Rockefeller Capital Management L.P. boosted its position in shares of Phreesia by 354.6% in the fourth 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 period. Finally, Allworth Financial LP acquired a new position in shares of Phreesia in the second quarter valued at about $58,000. 92.10% of the stock is currently owned by institutional investors.

Phreesia Stock Down 3.4%

NYSE PHR opened at $11.71 on Tuesday. The business has a fifty day moving average price of $10.83 and a two-hundred day moving average price of $10.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.76 and a quick ratio of 1.76. Phreesia, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $32.76. The stock has a market capitalization of $723.86 million, a PE ratio of 78.07 and a beta of 0.85.

Phreesia (NYSE:PHR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $130.94 million for the quarter, compared to analyst estimates of $130.08 million. During the same quarter last year, the company posted ($0.07) EPS. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts expect that Phreesia, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PHR shares. Truist Financial lifted their price objective on shares of Phreesia from $11.00 to $12.00 and gave the stock a "hold" rating in a research note on Thursday, May 28th. Barclays reaffirmed 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. Piper Sandler downgraded shares of Phreesia from an "overweight" rating to a "neutral" rating and set a $12.00 price target for the company. in a research report on Thursday, May 28th. DA Davidson reiterated a "buy" rating and issued a $14.00 price target on shares of Phreesia in a research note on Thursday, May 28th. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $9.00 price objective (down from $15.00) on shares of Phreesia in a research note on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.65.

Phreesia 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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