PRA Health Sciences Inc. (PRAH) Receives Consensus Recommendation of “Buy” from Brokerages
PRA Health Sciences Inc. (NASDAQ:PRAH) has earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $50.94.
A number of brokerages have recently commented on PRAH. Jefferies Group reiterated a “buy” rating on shares of PRA Health Sciences in a research report on Tuesday, September 13th. Zacks Investment Research cut shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Citigroup Inc. increased their target price on shares of PRA Health Sciences from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, September 22nd.
Shares of PRA Health Sciences (NASDAQ:PRAH) traded up 0.83% during midday trading on Wednesday, reaching $55.76. 166,330 shares of the company were exchanged. The firm has a 50-day moving average of $54.04 and a 200 day moving average of $48.30. The firm has a market capitalization of $3.40 billion, a P/E ratio of 47.82 and a beta of 0.53. PRA Health Sciences has a 52 week low of $33.00 and a 52 week high of $58.52.
PRA Health Sciences (NASDAQ:PRAH) last issued its earnings results on Thursday, July 28th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. The business earned $394.20 million during the quarter, compared to analysts’ expectations of $381.25 million. PRA Health Sciences had a net margin of 4.53% and a return on equity of 20.47%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. On average, equities research analysts expect that PRA Health Sciences will post $2.47 EPS for the current year.
In other PRA Health Sciences news, VP David W. Dockhorn sold 107,257 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $49.00, for a total transaction of $5,255,593.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Colin Shannon sold 113,133 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $51.57, for a total transaction of $5,834,268.81. Following the transaction, the chief executive officer now directly owns 120,000 shares of the company’s stock, valued at approximately $6,188,400. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PRAH. BlackRock Fund Advisors raised its position in shares of PRA Health Sciences by 6.1% in the first quarter. BlackRock Fund Advisors now owns 1,264,793 shares of the company’s stock valued at $54,083,000 after buying an additional 72,562 shares during the period. UBS Group AG raised its position in shares of PRA Health Sciences by 7.7% in the first quarter. UBS Group AG now owns 50,636 shares of the company’s stock valued at $2,165,000 after buying an additional 3,621 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of PRA Health Sciences during the second quarter valued at $23,257,000. HBK Investments L P bought a new position in shares of PRA Health Sciences during the first quarter valued at $295,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of PRA Health Sciences by 9.9% in the first quarter. TIAA CREF Investment Management LLC now owns 94,310 shares of the company’s stock valued at $4,033,000 after buying an additional 8,487 shares during the period.
About PRA Health Sciences
PRA Health Sciences, Inc is a contract research organization (CRO). The Company provides outsourced clinical development services to the biotechnology and pharmaceutical industries. The Company offers therapeutic services in areas of pharmaceutical development, including oncology, central nervous system, inflammation and infectious diseases.
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