Lord Abbett & CO. LLC Buys New Position in Phreesia, Inc. $PHR

Key Points

• Lord Abbett & CO. LLC invested approximately $8.46 million in Phreesia, acquiring 331,007 shares, which represents a 0.56% ownership stake in the company.
• Various institutional investors, including CWM LLC and Johnson Financial Group Inc., have made significant changes to their stakes in Phreesia, contributing to institutional ownership of 92.10%.
• Phreesia's stock has received a consensus rating of "Buy" from analysts, with a majority rating it as a strong buy, reflecting positive sentiment towards its growth potential.

Lord Abbett & CO. LLC bought a new position in shares of Phreesia, Inc. (NYSE:PHR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 331,007 shares of the company's stock, valued at approximately $8,461,000. Lord Abbett & CO. LLC owned approximately 0.56% of Phreesia at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. grew its position in Phreesia by 381.3% during the 4th quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company's stock worth $28,000 after purchasing an additional 896 shares in the last quarter. Quarry LP raised its position in shares of Phreesia by 210.9% during the fourth quarter. Quarry LP now owns 2,835 shares of the company's stock valued at $71,000 after buying an additional 1,923 shares during the last quarter. KBC Group NV acquired a new stake in shares of Phreesia during the 1st quarter worth approximately $74,000. CWM LLC raised its position in Phreesia by 994.9% in the first quarter. CWM LLC now owns 4,040 shares of the company's stock worth $103,000 after purchasing an additional 3,671 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Phreesia by 12.1% in the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company's stock worth $107,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company's stock.

Phreesia Trading Down 3.2%

Shares of PHR stock traded down $0.9170 during trading hours on Tuesday, hitting $28.1830. 702,225 shares of the company's stock traded hands, compared to its average volume of 514,322. The stock's 50 day simple moving average is $27.37 and its 200 day simple moving average is $26.39. The stock has a market cap of $1.68 billion, a PE ratio of -38.08 and a beta of 0.71. Phreesia, Inc. has a 12 month low of $17.07 and a 12 month high of $30.53. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.02.

Phreesia (NYSE:PHR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. Phreesia had a negative net margin of 9.83% and a negative return on equity of 16.23%. The company had revenue of $115.94 million during the quarter, compared to analysts' expectations of $115.00 million. During the same period in the prior year, the company posted ($0.05) earnings per share. Phreesia's revenue for the quarter was up 14.5% compared to the same quarter last year. Phreesia has set its FY 2026 guidance at EPS. On average, sell-side analysts anticipate that Phreesia, Inc. will post -1.1 EPS for the current year.

Insider Buying and Selling

In other news, COO Evan Roberts sold 1,892 shares of Phreesia stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $26.89, for a total value of $50,875.88. Following the completion of the transaction, the chief operating officer owned 772,915 shares in the company, valued at $20,783,684.35. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Linetsky sold 2,063 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $26.89, for a total transaction of $55,474.07. Following the transaction, the senior vice president directly owned 191,447 shares of the company's stock, valued at approximately $5,148,009.83. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,804 shares of company stock worth $1,510,733 over the last ninety days. Insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PHR. Truist Financial upped their price objective on shares of Phreesia from $34.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. DA Davidson upgraded shares of Phreesia to a "strong-buy" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Phreesia from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. Canaccord Genuity Group lowered their price objective on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, KeyCorp lifted their price target on shares of Phreesia from $28.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $32.27.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.