Phreesia (NYSE:PHR) Reaches New 52-Week Low – Here’s What Happened

Phreesia, Inc. (NYSE:PHR)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $15.09 and last traded at $15.03, with a volume of 100210 shares changing hands. The stock had previously closed at $15.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. DA Davidson reduced their price objective on Phreesia from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Mizuho decreased their price objective on Phreesia from $36.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. Canaccord Genuity Group lowered their price objective on Phreesia from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, December 9th. Zacks Research cut shares of Phreesia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $35.00 price target on shares of Phreesia in a research note on Monday, December 8th. Seventeen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.76.

Phreesia Stock Performance

The firm’s fifty day simple moving average is $17.41 and its 200 day simple moving average is $22.59. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.01.

Phreesia (NYSE:PHR) last posted its quarterly earnings results on Monday, December 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.11. Phreesia had a negative net margin of 1.16% and a negative return on equity of 1.31%. The business had revenue of $120.33 million for the quarter, compared to analyst estimates of $119.98 million. During the same quarter last year, the business posted ($0.25) EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts forecast that Phreesia, Inc. will post -1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Balaji Gandhi sold 4,687 shares of Phreesia stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $16.36, for a total transaction of $76,679.32. Following the sale, the chief financial officer directly owned 150,569 shares of the company’s stock, valued at approximately $2,463,308.84. The trade was a 3.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,995 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $16.36, for a total transaction of $65,358.20. Following the transaction, the general counsel owned 169,661 shares of the company’s stock, valued at approximately $2,775,653.96. This represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,766 shares of company stock valued at $1,013,817 over the last ninety days. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Phreesia

Hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC increased its position in Phreesia by 243.6% during the 2nd quarter. Squarepoint Ops LLC now owns 100,922 shares of the company’s stock valued at $2,872,000 after purchasing an additional 71,553 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Phreesia by 9,375.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,032 shares of the company’s stock valued at $86,000 after purchasing an additional 3,000 shares during the last quarter. Arcadia Investment Management Corp MI increased its position in shares of Phreesia by 22.3% during the second quarter. Arcadia Investment Management Corp MI now owns 113,470 shares of the company’s stock worth $3,229,000 after buying an additional 20,700 shares during the period. Acadian Asset Management LLC raised its stake in Phreesia by 61.6% during the second quarter. Acadian Asset Management LLC now owns 364,194 shares of the company’s stock worth $10,357,000 after buying an additional 138,877 shares during the last quarter. Finally, Boston Partners raised its stake in Phreesia by 165.1% during the second quarter. Boston Partners now owns 130,060 shares of the company’s stock worth $3,702,000 after buying an additional 81,006 shares during the last quarter. Institutional investors and hedge funds 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.