Phreesia (NYSE:PHR) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Phreesia (NYSE:PHR) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Phreesia Inc. provides a patient intake management platform. The company’s SaaS platform engages patients in their care and provides a modern, consistent experience, while enabling healthcare organizations to optimize their staffing, boost profitability and enhance clinical care. Phreesia Inc. is based in New York. “

Several other research firms also recently commented on PHR. Cantor Fitzgerald started coverage on Phreesia in a research note on Wednesday, January 8th. They issued an overweight rating and a $32.00 price objective for the company. Raymond James assumed coverage on Phreesia in a research note on Thursday, December 19th. They issued an outperform rating and a $33.00 price objective for the company. KeyCorp assumed coverage on Phreesia in a research note on Thursday, January 30th. They issued an overweight rating and a $36.00 target price for the company. Finally, ValuEngine downgraded Phreesia from a buy rating to a hold rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $31.78.

NYSE PHR opened at $32.61 on Tuesday. The business has a fifty day moving average price of $28.93 and a 200 day moving average price of $27.71. Phreesia has a one year low of $22.05 and a one year high of $34.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.01 and a quick ratio of 4.01.

Phreesia (NYSE:PHR) last posted its quarterly earnings data on Tuesday, December 10th. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. The firm had revenue of $32.80 million during the quarter, compared to analyst estimates of $29.48 million. Phreesia’s quarterly revenue was up 32.3% on a year-over-year basis. On average, equities research analysts expect that Phreesia will post -0.43 earnings per share for the current fiscal year.

In other news, Director Scott Perricelli sold 2,000,000 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $24.48, for a total transaction of $48,960,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Weintraub sold 10,680 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $32.51, for a total value of $347,206.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,554,757 shares of company stock valued at $63,956,423.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHR. TimesSquare Capital Management LLC purchased a new position in shares of Phreesia during the 3rd quarter worth $29,435,000. FMR LLC grew its holdings in shares of Phreesia by 116.2% during the 4th quarter. FMR LLC now owns 2,025,666 shares of the company’s stock worth $53,964,000 after purchasing an additional 1,088,782 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of Phreesia during the 4th quarter worth $16,629,000. Massachusetts Financial Services Co. MA purchased a new position in Phreesia during the 3rd quarter valued at about $11,955,000. Finally, Tamarack Advisers LP boosted its holdings in Phreesia by 230.0% during the 4th quarter. Tamarack Advisers LP now owns 660,000 shares of the company’s stock valued at $17,549,000 after acquiring an additional 460,000 shares during the period. Institutional investors and hedge funds own 51.49% of the company’s stock.

About Phreesia

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company's Phreesia Platform offers a suite of solutions to manage the patient intake process and an integrated payments solution for processing of patient payments.

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