Freestone Grove Partners LP Acquires New Position in Phreesia, Inc. $PHR

Freestone Grove Partners LP acquired a new stake in Phreesia, Inc. (NYSE:PHR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 43,489 shares of the company’s stock, valued at approximately $448,000.

A number of other institutional investors also recently bought and sold shares of the stock. Flputnam Investment Management Co. purchased a new stake in shares of Phreesia during the second quarter valued at $1,656,000. Tocqueville Asset Management L.P. acquired a new position in shares of Phreesia in the 2nd quarter valued at $3,344,000. King Luther Capital Management Corp raised its stake in Phreesia by 172.6% in the 4th quarter. King Luther Capital Management Corp now owns 268,314 shares of the company’s stock worth $4,540,000 after acquiring an additional 169,900 shares during the last quarter. Principal Financial Group Inc. raised its stake in Phreesia by 213.7% in the 1st quarter. Principal Financial Group Inc. now owns 165,173 shares of the company’s stock worth $1,384,000 after acquiring an additional 112,516 shares during the last quarter. Finally, Meros Investment Management LP lifted its position in Phreesia by 48.5% during the 4th quarter. Meros Investment Management LP now owns 478,274 shares of the company’s stock worth $8,092,000 after acquiring an additional 156,137 shares during the period. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Phreesia Stock Performance

NYSE PHR opened at $12.17 on Monday. The stock has a 50-day simple moving average of $11.03 and a two-hundred day simple moving average of $10.48. The firm has a market capitalization of $752.23 million, a P/E ratio of 81.13 and a beta of 0.85. Phreesia, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $32.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.76 and a current ratio of 1.76.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup reissued a “market perform” rating on shares of Phreesia in a report on Friday, May 29th. Weiss Ratings raised Phreesia from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Wall Street Zen upgraded Phreesia from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. DA Davidson reiterated a “buy” rating and issued a $14.00 price target on shares of Phreesia in a report on Thursday, May 28th. Finally, Truist Financial raised their price target on shares of Phreesia from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.65.

Phreesia 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.