Principal Financial Group Inc. Buys 112,516 Shares of Phreesia, Inc. $PHR

Principal Financial Group Inc. raised its stake in shares of Phreesia, Inc. (NYSE:PHR) by 213.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,173 shares of the company’s stock after purchasing an additional 112,516 shares during the period. Principal Financial Group Inc. owned 0.27% of Phreesia worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Phreesia by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock valued at $97,194,000 after purchasing an additional 39,540 shares during the last quarter. Granahan Investment Management LLC lifted its position in Phreesia by 73.8% in the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock worth $40,601,000 after buying an additional 1,018,987 shares during the last quarter. Franklin Resources Inc. lifted its position in Phreesia by 28.8% in the fourth quarter. Franklin Resources Inc. now owns 2,000,082 shares of the company’s stock worth $33,841,000 after buying an additional 446,890 shares during the last quarter. Nuveen LLC lifted its position in Phreesia by 12.7% in the fourth quarter. Nuveen LLC now owns 1,875,725 shares of the company’s stock worth $31,737,000 after buying an additional 211,262 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Phreesia by 47.6% during the fourth quarter. Millennium Management LLC now owns 1,571,055 shares of the company’s stock worth $26,582,000 after buying an additional 506,923 shares during the period. 92.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PHR. Citigroup reiterated a “market perform” rating on shares of Phreesia in a research report on Friday, May 29th. Canaccord Genuity Group dropped their price target on shares of Phreesia from $22.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Wells Fargo & Company reiterated an “equal weight” rating and set a $9.00 price target (down from $15.00) on shares of Phreesia in a report on Wednesday, May 20th. Piper Sandler lowered shares of Phreesia from an “overweight” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research report on Thursday, May 28th. Finally, KeyCorp reduced their price objective on shares of Phreesia from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, April 13th. Nine research 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’s stock. Based on data from MarketBeat.com, Phreesia currently has an average rating of “Hold” and a consensus target price of $16.65.

Phreesia Stock Performance

PHR stock opened at $10.59 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $10.00 and its two-hundred day simple moving average is $10.92. Phreesia, Inc. has a twelve month low of $7.77 and a twelve month high of $32.76. The firm has a market cap of $654.84 million, a price-to-earnings ratio of 70.63 and a beta of 0.87.

Phreesia (NYSE:PHR) last released its earnings results on Wednesday, May 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 5.13% and a net margin of 1.85%.The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. Analysts predict that Phreesia, Inc. will post 0.39 earnings per share 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.