Principal Financial Group Inc. Increases Holdings in Phreesia, Inc. $PHR

Principal Financial Group Inc. increased its position in Phreesia, Inc. (NYSE:PHR) by 213.7% during the 1st quarter, Holdings Channel reports. The firm owned 165,173 shares of the company’s stock after acquiring an additional 112,516 shares during the quarter. Principal Financial Group Inc.’s holdings in Phreesia were worth $1,384,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of Phreesia by 78.7% in the 4th quarter. Van ECK Associates Corp now owns 2,502 shares of the company’s stock worth $42,000 after buying an additional 1,102 shares during the period. New York State Teachers Retirement System purchased a new position in shares of Phreesia during the first quarter valued at $44,000. Rockefeller Capital Management L.P. increased its stake in shares of Phreesia by 354.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,755 shares of the company’s stock valued at $47,000 after buying an additional 2,149 shares during the period. KBC Group NV raised its holdings in shares of Phreesia by 83.4% in the fourth quarter. KBC Group NV now owns 3,449 shares of the company’s stock valued at $58,000 after acquiring an additional 1,568 shares in the last quarter. Finally, Garner Asset Management Corp bought a new stake in shares of Phreesia in the fourth quarter valued at about $81,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Price Performance

Shares of PHR stock opened at $10.59 on Friday. Phreesia, Inc. has a 1-year low of $7.77 and a 1-year high of $32.76. The stock’s 50-day moving average is $10.00 and its 200 day moving average is $10.92. The company has a market cap of $654.84 million, a P/E ratio of 70.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.76 and a quick ratio of 1.76.

Phreesia (NYSE:PHR) last announced its earnings results on Wednesday, May 27th. The company reported $0.05 EPS 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 the consensus estimate of $130.08 million. Phreesia had a net margin of 1.85% and a return on equity of 5.13%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. Research analysts predict that Phreesia, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on PHR shares. Truist Financial increased their target price on shares of Phreesia from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Phreesia from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Piper Sandler cut shares of Phreesia from an “overweight” rating to a “neutral” rating and set a $12.00 price target for the company. in a research report on Thursday, May 28th. Barclays reiterated an “equal weight” rating and set a $10.00 price objective (down from $24.00) on shares of Phreesia in a research note on Thursday, May 14th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $9.00 price objective (down from $15.00) on shares of Phreesia in a report on Wednesday, May 20th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.65.

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.