Mackenzie Financial Corp Makes New Investment in Phreesia, Inc. (NYSE:PHR)

Mackenzie Financial Corp purchased a new position in shares of Phreesia, Inc. (NYSE:PHR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,209 shares of the company's stock, valued at approximately $414,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PHR. Johnson Financial Group Inc. raised its stake in Phreesia by 381.3% during the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company's stock worth $28,000 after purchasing an additional 896 shares during the period. Quarry LP grew its stake in shares of Phreesia by 210.9% in the 4th 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 period. 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 shares of Phreesia by 994.9% during the 1st quarter. CWM LLC now owns 4,040 shares of the company's stock valued at $103,000 after buying an additional 3,671 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Phreesia by 12.1% in the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company's stock valued at $107,000 after acquiring an additional 459 shares during the last quarter. Institutional investors and hedge funds own 92.10% of the company's stock.

Insider Activity

In related news, COO Evan Roberts sold 1,892 shares of the company'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 $50,875.88. Following the sale, the chief operating officer directly owned 772,915 shares in the company, valued at approximately $20,783,684.35. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Linetsky sold 23,729 shares of Phreesia stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $28.50, for a total transaction of $676,276.50. Following the completion of the transaction, the senior vice president owned 193,510 shares of the company's stock, valued at $5,515,035. This represents a 10.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,804 shares of company stock worth $1,510,733 over the last three months. Company insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Truist Financial raised their target price on 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. Canaccord Genuity Group decreased their target price on shares of Phreesia from $35.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Wall Street Zen upgraded shares of Phreesia from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. Finally, KeyCorp upped their price objective on shares of Phreesia from $28.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Phreesia has an average rating of "Buy" and a consensus price target of $32.27.

Phreesia Trading Down 0.7%

Shares of PHR stock opened at $26.91 on Friday. Phreesia, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $30.53. The company has a 50 day moving average price of $27.05 and a 200 day moving average price of $26.41. The stock has a market capitalization of $1.60 billion, a P/E ratio of -36.36 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.95 and a current ratio of 1.95.

Phreesia (NYSE:PHR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $115.94 million during the quarter, compared to the consensus estimate of $115.00 million. Phreesia had a negative net margin of 9.83% and a negative return on equity of 16.23%. The company's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Equities research analysts predict that Phreesia, Inc. will post -1.1 EPS for the current fiscal year.

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.

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