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

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Zacks Investment Research cut shares of Phreesia (NYSE:PHR) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, 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 have also commented on PHR. Cantor Fitzgerald initiated coverage on Phreesia in a research report on Wednesday, January 8th. They set an overweight rating and a $32.00 price target on the stock. ValuEngine lowered Phreesia from a buy rating to a hold rating in a research report on Thursday, October 31st. Raymond James initiated coverage on Phreesia in a research report on Thursday, December 19th. They set an outperform rating and a $33.00 price target on the stock. Finally, KeyCorp initiated coverage on Phreesia in a research report on Thursday, January 30th. They set an overweight rating and a $36.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $31.78.

Shares of NYSE PHR opened at $32.61 on Tuesday. 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 has a fifty-two week low of $22.05 and a fifty-two week high of $34.39. The stock’s 50-day simple moving average is $28.93 and its 200-day simple moving average is $27.71.

Phreesia (NYSE:PHR) last issued its earnings results on Tuesday, December 10th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. The business had revenue of $32.80 million for the quarter, compared to analyst estimates of $29.48 million. Phreesia’s revenue was up 32.3% on a year-over-year basis. As a group, research analysts predict that Phreesia will post -0.43 earnings per share for the current fiscal year.

In other Phreesia news, Director Scott Perricelli sold 2,000,000 shares of Phreesia stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $24.48, for a total value of $48,960,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Weintraub sold 10,680 shares of Phreesia stock in a transaction that occurred on Wednesday, February 12th. The shares were 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. In the last ninety days, insiders have sold 2,554,757 shares of company stock worth $63,956,423.

Hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new stake in shares of Phreesia in the fourth quarter valued at approximately $29,000. Bank of Montreal Can purchased a new stake in shares of Phreesia in the fourth quarter valued at approximately $33,000. Victory Capital Management Inc. purchased a new stake in shares of Phreesia in the fourth quarter valued at approximately $53,000. Russell Investments Group Ltd. purchased a new stake in shares of Phreesia in the third quarter valued at approximately $47,000. Finally, Citigroup Inc. boosted its stake in shares of Phreesia by 339.2% in the fourth quarter. Citigroup Inc. now owns 2,073 shares of the company’s stock valued at $55,000 after buying an additional 1,601 shares in the last quarter. Institutional investors own 51.49% of the company’s stock.

Phreesia Company Profile

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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