Phreesia (NYSE:PHR) Issues Quarterly Earnings Results

Phreesia (NYSE:PHR) posted its earnings results on Monday. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.11, Zacks reports. Phreesia had a negative return on equity of 8.75% and a negative net margin of 5.35%.

Phreesia Price Performance

NYSE PHR traded down $0.01 during trading hours on Monday, reaching $20.28. 3,717,465 shares of the stock traded hands, compared to its average volume of 635,326. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a 50 day simple moving average of $22.09 and a two-hundred day simple moving average of $25.28. Phreesia has a 1 year low of $18.55 and a 1 year high of $32.76. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -48.28 and a beta of 0.64.

Wall Street Analyst Weigh In

PHR has been the subject of several recent analyst reports. Raymond James Financial set a $33.00 price objective on shares of Phreesia and gave the company an “outperform” rating in a research note on Friday, September 5th. Needham & Company LLC restated a “buy” rating and set a $35.00 price target on shares of Phreesia in a research report on Monday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phreesia in a report on Friday, October 31st. Truist Financial lifted their price objective on Phreesia from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Piper Sandler boosted their target price on Phreesia from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Phreesia presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.86.

Insider Activity at Phreesia

In related news, insider David Linetsky sold 2,165 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total value of $50,401.20. Following the completion of the sale, the insider owned 174,952 shares in the company, valued at $4,072,882.56. The trade was a 1.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Evan Roberts sold 3,761 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $23.28, for a total value of $87,556.08. Following the completion of the sale, the insider directly owned 726,837 shares of the company’s stock, valued at approximately $16,920,765.36. This represents a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,174 shares of company stock worth $603,835 in the last quarter. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phreesia

A number of large investors have recently added to or reduced their stakes in PHR. Franklin Resources Inc. boosted its position in Phreesia by 1.9% during the third quarter. Franklin Resources Inc. now owns 1,553,192 shares of the company’s stock valued at $36,531,000 after buying an additional 28,941 shares during the period. Deerfield Management Company L.P. lifted its stake in shares of Phreesia by 10.1% in the 3rd quarter. Deerfield Management Company L.P. now owns 1,116,752 shares of the company’s stock valued at $26,266,000 after acquiring an additional 102,175 shares during the last quarter. Millennium Management LLC boosted its holdings in Phreesia by 730.7% during the 3rd quarter. Millennium Management LLC now owns 1,064,132 shares of the company’s stock valued at $25,028,000 after acquiring an additional 936,033 shares during the period. Qube Research & Technologies Ltd grew its position in Phreesia by 87.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 730,054 shares of the company’s stock worth $17,171,000 after acquiring an additional 340,535 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Phreesia by 0.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 600,012 shares of the company’s stock worth $15,336,000 after purchasing an additional 2,402 shares during the period. Hedge funds and other institutional investors own 92.10% of the company’s stock.

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.