Phreesia, Inc. (NYSE:PHR – Get Rating) – Investment analysts at SVB Leerink dropped their Q2 2024 earnings per share estimates for Phreesia in a research report issued to clients and investors on Thursday, June 1st. SVB Leerink analyst S. Davis now forecasts that the company will post earnings per share of ($0.80) for the quarter, down from their prior forecast of ($0.77). The consensus estimate for Phreesia’s current full-year earnings is ($2.82) per share. SVB Leerink also issued estimates for Phreesia’s Q4 2024 earnings at ($0.67) EPS, FY2024 earnings at ($2.90) EPS and FY2025 earnings at ($2.34) EPS.
Several other research firms have also recently commented on PHR. JMP Securities lifted their target price on shares of Phreesia from $34.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, March 23rd. KeyCorp lowered their price objective on shares of Phreesia from $45.00 to $40.00 in a research note on Thursday, May 25th. Stephens assumed coverage on shares of Phreesia in a research note on Tuesday, April 11th. They set an “overweight” rating and a $37.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Phreesia from $41.00 to $40.00 in a research note on Friday. Finally, Royal Bank of Canada boosted their price objective on shares of Phreesia from $26.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, March 23rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.64.
Phreesia Price Performance
Phreesia (NYSE:PHR – Get Rating) last released its quarterly earnings results on Wednesday, May 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.10. Phreesia had a negative return on equity of 50.94% and a negative net margin of 53.89%. The firm had revenue of $83.85 million for the quarter, compared to analyst estimates of $80.64 million. During the same quarter last year, the company posted ($0.99) earnings per share.
Hedge Funds Weigh In On Phreesia
Institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. grew its stake in shares of Phreesia by 159.7% in the first quarter. Macquarie Group Ltd. now owns 153,907 shares of the company’s stock valued at $4,970,000 after acquiring an additional 94,639 shares in the last quarter. Putnam Investments LLC acquired a new stake in Phreesia during the first quarter worth about $1,195,000. Ameriprise Financial Inc. bought a new position in Phreesia in the 1st quarter valued at about $1,264,000. JPMorgan Chase & Co. increased its holdings in Phreesia by 3.4% in the 1st quarter. JPMorgan Chase & Co. now owns 420,755 shares of the company’s stock valued at $13,586,000 after buying an additional 13,980 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Phreesia by 14.9% in the 1st quarter. New York State Common Retirement Fund now owns 62,834 shares of the company’s stock valued at $2,029,000 after buying an additional 8,125 shares during the period. 92.23% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Phreesia
In other news, Director Mark Douglas Smith sold 7,000 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $30.77, for a total transaction of $215,390.00. Following the completion of the transaction, the director now directly owns 16,112 shares of the company’s stock, valued at approximately $495,766.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Amy Beth Vanduyn sold 2,978 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $30.79, for a total value of $91,692.62. Following the sale, the senior vice president now owns 96,481 shares of the company’s stock, valued at $2,970,649.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark Douglas Smith sold 7,000 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $30.77, for a total transaction of $215,390.00. Following the completion of the sale, the director now directly owns 16,112 shares in the company, valued at approximately $495,766.24. The disclosure for this sale can be found here. Insiders have sold a total of 26,863 shares of company stock worth $834,743 in the last 90 days. 5.80% of the stock is owned by insiders.
Phreesia Company Profile
Phreesia, Inc engages in the provision of patient check-in solutions for medical practices. The firm offers appointments, clinical support, integration, registration, patient activation, analytics and reports, revenue cycle, patient surveys, and privacy and security products. Its solutions include health systems, multi-specialty, and federally qualified health centers (FQHCs).
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