Deerfield Management Company L.P. Series C Purchases New Stake in Phreesia, Inc. (NYSE:PHR)

Deerfield Management Company L.P. Series C bought a new position in Phreesia, Inc. (NYSE:PHR) in the 2nd quarter, HoldingsChannel reports. The fund bought 192,347 shares of the company’s stock, valued at approximately $4,078,000.

Several other institutional investors have also recently added to or reduced their stakes in PHR. Vanguard Group Inc. grew its position in Phreesia by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 4,628,441 shares of the company’s stock worth $107,148,000 after buying an additional 194,035 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in Phreesia during the 1st quarter valued at approximately $29,941,000. Boston Partners bought a new position in Phreesia during the first quarter worth $669,000. Blair William & Co. IL raised its position in shares of Phreesia by 42.6% during the first quarter. Blair William & Co. IL now owns 752,700 shares of the company’s stock valued at $18,012,000 after buying an additional 224,950 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Phreesia by 1,407.9% in the 1st quarter. Russell Investments Group Ltd. now owns 57,874 shares of the company’s stock worth $1,385,000 after acquiring an additional 54,036 shares during the period. Institutional investors own 92.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on PHR shares. KeyCorp cut their target price on Phreesia from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Robert W. Baird raised their price target on Phreesia from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Royal Bank of Canada restated a “sector perform” rating and set a $23.00 target price on shares of Phreesia in a research report on Thursday, September 5th. Canaccord Genuity Group reiterated a “buy” rating and set a $34.00 price target on shares of Phreesia in a research report on Thursday, September 5th. Finally, Stephens restated an “overweight” rating and issued a $28.00 price objective on shares of Phreesia in a report on Friday, May 31st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.42.

Insider Buying and Selling at Phreesia

In other news, General Counsel Allison C. Hoffman sold 14,110 shares of Phreesia stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $26.03, for a total transaction of $367,283.30. Following the transaction, the general counsel now owns 121,003 shares in the company, valued at approximately $3,149,708.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Phreesia news, General Counsel Allison C. Hoffman sold 14,110 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $26.03, for a total transaction of $367,283.30. Following the completion of the transaction, the general counsel now owns 121,003 shares in the company, valued at approximately $3,149,708.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Balaji Gandhi sold 3,502 shares of Phreesia stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.25, for a total value of $81,421.50. Following the completion of the sale, the chief financial officer now directly owns 98,578 shares in the company, valued at approximately $2,291,938.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,203 shares of company stock valued at $1,129,699. Company insiders own 5.80% of the company’s stock.

Phreesia Price Performance

Shares of PHR stock opened at $22.44 on Thursday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -10.35 and a beta of 0.93. Phreesia, Inc. has a 12-month low of $12.05 and a 12-month high of $29.16. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $24.08 and a 200-day moving average of $22.65.

About Phreesia

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.