Mizuho Cuts Phreesia (NYSE:PHR) Price Target to $19.00

Phreesia (NYSE:PHR) had its target price decreased by research analysts at Mizuho from $22.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target suggests a potential upside of 69.87% from the stock’s previous close.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their price objective on Phreesia from $29.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. DA Davidson dropped their target price on Phreesia from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Zacks Research lowered Phreesia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Citigroup decreased their price target on Phreesia from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Finally, Canaccord Genuity Group dropped their price objective on Phreesia from $38.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, December 9th. Seventeen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

Phreesia Price Performance

Shares of PHR traded down $0.62 during mid-day trading on Tuesday, hitting $11.19. 766,696 shares of the company traded hands, compared to its average volume of 1,626,041. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $674.31 million, a price-to-earnings ratio of -111.88 and a beta of 0.67. The business has a 50-day moving average of $13.02 and a 200 day moving average of $18.22. Phreesia has a one year low of $10.75 and a one year high of $32.76.

Insider Transactions at Phreesia

In other news, insider David Linetsky sold 6,106 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $17.01, for a total transaction of $103,863.06. Following the sale, the insider directly owned 231,723 shares of the company’s stock, valued at $3,941,608.23. This represents a 2.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Allison C. Hoffman sold 6,585 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total transaction of $112,010.85. Following the transaction, the general counsel owned 174,762 shares of the company’s stock, valued at $2,972,701.62. This trade represents a 3.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 60,353 shares of company stock valued at $1,006,528. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Phreesia by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,744,326 shares of the company’s stock worth $97,194,000 after purchasing an additional 39,540 shares in the last quarter. Greenhouse Funds LLLP increased its position in Phreesia by 16.8% during the 3rd quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock valued at $91,317,000 after buying an additional 557,265 shares in the last quarter. Granahan Investment Management LLC raised its stake in Phreesia by 73.8% in the fourth quarter. Granahan Investment Management LLC now owns 2,399,613 shares of the company’s stock valued at $40,601,000 after buying an additional 1,018,987 shares during the last quarter. Franklin Resources Inc. boosted its holdings 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 acquiring an additional 446,890 shares in the last quarter. Finally, Nuveen LLC increased its holdings in shares of Phreesia by 12.7% during the fourth quarter. Nuveen LLC now owns 1,875,725 shares of the company’s stock valued at $31,737,000 after acquiring an additional 211,262 shares in the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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.