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

Phreesia (NYSE:PHR) had its target price reduced by equities researchers at Mizuho from $22.00 to $19.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 68.99% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Royal Bank Of Canada initiated coverage on shares of Phreesia in a report on Friday, January 9th. They set a “moderate buy” rating and a $26.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phreesia in a research note on Wednesday, January 28th. Needham & Company LLC reiterated a “buy” rating and set a $35.00 price objective on shares of Phreesia in a research report on Monday, December 8th. Robert W. Baird cut their target price on shares of Phreesia from $31.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Finally, Citigroup reduced their target price on Phreesia from $29.00 to $25.00 and set a “buy” rating for the company in a report on Friday, January 9th. Seventeen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Phreesia has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

Phreesia Price Performance

NYSE PHR opened at $11.24 on Tuesday. The stock’s 50-day moving average price is $12.81 and its two-hundred day moving average price is $18.05. 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 company has a market cap of $677.84 million, a PE ratio of -112.42 and a beta of 0.67. Phreesia has a 1 year low of $10.75 and a 1 year high of $32.76.

Insider Activity

In other Phreesia news, CFO Balaji Gandhi sold 8,009 shares of Phreesia stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total transaction of $136,233.09. Following the completion of the sale, the chief financial officer owned 156,231 shares of the company’s stock, valued at $2,657,489.31. This trade represents a 4.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Evan Roberts sold 6,317 shares of Phreesia stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total transaction of $107,452.17. Following the sale, the insider directly owned 834,632 shares of the company’s stock, valued at $14,197,090.32. This trade represents a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,529 shares of company stock valued at $1,080,454 in the last three months. 5.50% of the stock is currently owned by insiders.

Institutional Trading of Phreesia

Several hedge funds and other institutional investors have recently modified their holdings of PHR. Vanguard Group Inc. increased its position in Phreesia by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,704,786 shares of the company’s stock worth $134,177,000 after purchasing an additional 437,462 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Phreesia by 727.1% during the 3rd quarter. New York State Common Retirement Fund now owns 136,856 shares of the company’s stock worth $3,219,000 after purchasing an additional 120,309 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of 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 buying an additional 71,553 shares during the last quarter. Greenhouse Funds LLLP grew its stake in shares of Phreesia by 16.8% in 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. Finally, Bessemer Group Inc. grew its stake in shares of Phreesia by 1,065.9% in the 3rd quarter. Bessemer Group Inc. now owns 554,513 shares of the company’s stock valued at $13,043,000 after buying an additional 506,954 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.