Phreesia, Inc. $PHR Stock Position Reduced by Rock Springs Capital Management LP

Key Points

• Rock Springs Capital Management cut its Phreesia stake by 31.5% in the first quarter, selling 276,200 shares and retaining 600,400 shares worth approximately $5.03 million.
• Analyst sentiment remains mixed, with nine Buy, nine Hold and one Sell rating; the consensus rating is Hold with a $16.65 price target, though several firms recently lowered their targets.
• Phreesia reported quarterly adjusted earnings of $0.05 per share, beating estimates of $0.02, while revenue rose 12.9% year over year to $130.94 million. The stock opened at $10.64, near the lower end of its $7.77–$32.76 one-year range.

Rock Springs Capital Management LP lessened its position in shares of Phreesia, Inc. (NYSE:PHR - Free Report) by 31.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 600,400 shares of the company's stock after selling 276,200 shares during the period. Rock Springs Capital Management LP owned about 0.97% of Phreesia worth $5,031,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PHR. SG Americas Securities LLC bought a new position in Phreesia during the fourth quarter worth $1,203,000. Tudor Investment Corp ET AL bought a new stake in Phreesia during the third quarter valued at $4,173,000. King Luther Capital Management Corp increased its stake in Phreesia by 172.6% during the fourth quarter. King Luther Capital Management Corp now owns 268,314 shares of the company's stock valued at $4,540,000 after purchasing an additional 169,900 shares during the last quarter. Cambiar Investors LLC increased its stake in Phreesia by 48.9% during the fourth quarter. Cambiar Investors LLC now owns 358,474 shares of the company's stock valued at $6,065,000 after purchasing an additional 117,681 shares during the last quarter. Finally, Meros Investment Management LP raised its holdings in shares of Phreesia by 48.5% during the fourth quarter. Meros Investment Management LP now owns 478,274 shares of the company's stock worth $8,092,000 after purchasing an additional 156,137 shares during the period. Institutional investors and hedge funds own 92.10% of the company's stock.

Analysts Set New Price Targets

PHR has been the topic of a number of recent research reports. Robert W. Baird restated a "neutral" rating and issued a $10.00 price target (down from $25.00) on shares of Phreesia in a research report on Tuesday, March 31st. Truist Financial boosted their price objective on shares of Phreesia from $11.00 to $12.00 and gave the company a "hold" rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $16.00 price objective (down from $24.00) on shares of Phreesia in a research note on Tuesday, March 31st. Citizens Jmp reissued a "market perform" rating on shares of Phreesia in a report on Wednesday, April 1st. Finally, Needham & Company LLC cut their target price on shares of Phreesia from $35.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $16.65.

Phreesia Stock Up 4.2%

Phreesia stock opened at $10.64 on Tuesday. The company has a 50-day simple moving average of $9.89 and a 200-day simple moving average of $11.05. The firm has a market capitalization of $657.99 million, a P/E ratio of 70.97 and a beta of 0.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.76 and a current ratio of 1.76. Phreesia, Inc. has a one year low of $7.77 and a one year high of $32.76.

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

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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