Connor Clark & Lunn Investment Management Ltd. Buys Shares of 609,704 Phreesia, Inc. $PHR

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Phreesia, Inc. (NYSE:PHR) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 609,704 shares of the company’s stock, valued at approximately $6,274,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pale Fire Capital SE bought a new position in Phreesia during the 1st quarter worth about $72,481,000. BlackRock Inc. acquired a new stake in Phreesia in the 2nd quarter valued at approximately $72,234,000. Granahan Investment Management LLC lifted its stake in Phreesia by 73.8% in the 4th quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock valued at $40,601,000 after acquiring an additional 1,018,987 shares in the last quarter. Prosight Management LP bought a new stake in Phreesia in the 4th quarter valued at approximately $16,533,000. Finally, Millennium Management LLC boosted its position in Phreesia by 730.7% during the 3rd quarter. Millennium Management LLC now owns 1,064,132 shares of the company’s stock worth $25,028,000 after acquiring an additional 936,033 shares during the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PHR shares. Barclays reaffirmed 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 target price for the company. in a research report on Thursday, May 28th. Weiss Ratings upgraded shares of Phreesia from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. DA Davidson reissued a “buy” rating and set a $14.00 price target on shares of Phreesia in a research report on Thursday, May 28th. Finally, Citigroup restated a “market perform” rating on shares of Phreesia in a research note on Friday, May 29th. Nine investment 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 MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.65.

Phreesia Stock Performance

NYSE PHR opened at $11.90 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $10.97 and its two-hundred day moving average price is $10.48. Phreesia, Inc. has a 1 year low of $7.77 and a 1 year high of $32.76. The firm has a market capitalization of $735.54 million, a P/E ratio of 79.33 and a beta of 0.85.

Phreesia (NYSE:PHR) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $130.94 million during the quarter, compared to the consensus estimate of $130.08 million. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. As a group, research analysts anticipate that Phreesia, Inc. will post 0.39 EPS 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.