Tocqueville Asset Management L.P. Acquires New Stake in Phreesia, Inc. $PHR

Key Points

• Tocqueville Asset Management acquired 325,000 Phreesia shares worth approximately $3.34 million, representing a 0.53% stake. Institutional investors collectively own 92.10% of the company.
• Analyst sentiment is mixed, with nine Buy, nine Hold and one Sell rating. Phreesia has a consensus rating of “Hold” and an average price target of $16.65.
• Phreesia reported quarterly revenue of $130.94 million, up 12.9% year over year, and earnings of $0.05 per share, exceeding analysts’ expectations of $0.02.

Tocqueville Asset Management L.P. bought a new stake in Phreesia, Inc. (NYSE:PHR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 325,000 shares of the company's stock, valued at approximately $3,344,000. Tocqueville Asset Management L.P. owned 0.53% of Phreesia as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Phreesia during the 2nd quarter valued at about $72,234,000. Pallas Capital Advisors LLC bought a new position in shares of Phreesia in the 2nd quarter worth approximately $255,000. Deutsche Bank AG bought a new position in shares of Phreesia in the 2nd quarter worth approximately $538,000. Flputnam Investment Management Co. purchased a new position in shares of Phreesia in the second quarter worth approximately $1,656,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Phreesia in the second quarter worth approximately $1,901,000. 92.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PHR. Weiss Ratings raised shares of Phreesia from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, July 20th. Barclays reiterated an "equal weight" rating and set a $10.00 price target (down from $24.00) on shares of Phreesia in a research note on Thursday, May 14th. Piper Sandler downgraded shares of Phreesia from an "overweight" rating to a "neutral" rating and set a $12.00 price objective for the company. in a research report on Thursday, May 28th. DA Davidson restated a "buy" rating and issued a $14.00 price objective on shares of Phreesia in a research note on Thursday, May 28th. Finally, Canaccord Genuity Group decreased their target price on Phreesia from $22.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 28th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $16.65.

Phreesia Price Performance

NYSE PHR opened at $12.00 on Friday. Phreesia, Inc. has a 12 month low of $7.77 and a 12 month high of $32.76. The stock has a market cap of $741.74 million, a price-to-earnings ratio of 80.00 and a beta of 0.85. The company's 50 day moving average is $10.72 and its two-hundred day moving average is $10.52. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.41.

Phreesia (NYSE:PHR - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $130.08 million. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The company's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. As a group, research analysts anticipate that Phreesia, Inc. will post 0.39 earnings per share for the current year.

About Phreesia

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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