Mizuho Cuts Phreesia (NYSE:PHR) Price Target to $19.00

Phreesia (NYSE:PHR) had its target price cut by Mizuho from $22.00 to $19.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. DA Davidson decreased their target price on Phreesia from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Royal Bank Of Canada assumed coverage on shares of Phreesia in a report on Friday, January 9th. They issued a “moderate buy” rating and a $26.00 price target on the stock. Canaccord Genuity Group reduced their price target on shares of Phreesia from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, December 9th. Barclays decreased their price objective on shares of Phreesia from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Phreesia from $29.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Seventeen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.65.

Phreesia Stock Performance

Shares of PHR opened at $11.64 on Tuesday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $701.44 million, a price-to-earnings ratio of -116.34 and a beta of 0.67. The stock has a 50 day moving average of $12.72 and a 200 day moving average of $18.00. Phreesia has a 12 month low of $10.75 and a 12 month high of $32.76.

Insider Activity

In related news, SVP Amy Beth Vanduyn sold 2,602 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $17.01, for a total value of $44,260.02. Following the sale, the senior vice president directly owned 160,238 shares in the company, valued at approximately $2,725,648.38. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Balaji Gandhi sold 8,009 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $17.01, for a total value of $136,233.09. Following the completion of the sale, the chief financial officer owned 156,231 shares in the company, valued at $2,657,489.31. This represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 66,529 shares of company stock worth $1,080,454. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phreesia

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Phreesia by 8.3% in the third quarter. Vanguard Group Inc. now owns 5,704,786 shares of the company’s stock worth $134,177,000 after buying an additional 437,462 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Phreesia by 727.1% during the third quarter. New York State Common Retirement Fund now owns 136,856 shares of the company’s stock valued at $3,219,000 after buying an additional 120,309 shares during the period. Squarepoint Ops LLC grew its position in Phreesia by 243.6% during the second quarter. Squarepoint Ops LLC now owns 100,922 shares of the company’s stock worth $2,872,000 after buying an additional 71,553 shares in the last quarter. Greenhouse Funds LLLP grew its position in Phreesia by 16.8% during the third quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock worth $91,317,000 after buying an additional 557,265 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Phreesia by 1,065.9% in the 3rd quarter. Bessemer Group Inc. now owns 554,513 shares of the company’s stock worth $13,043,000 after acquiring an additional 506,954 shares during the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Phreesia Company 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.