Stock analysts at Raymond James Financial, Inc. assumed coverage on shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) in a research report issued to clients and investors on Wednesday. The firm set an “outperform” rating and a $89.00 price target on the medical research company’s stock. Raymond James Financial, Inc.’s target price points to a potential upside of 18.41% from the stock’s current price.

Other research analysts have also issued research reports about the company. Citigroup Inc. reissued a “buy” rating and set a $90.00 price objective (up previously from $73.00) on shares of PRA Health Sciences in a report on Wednesday, June 28th. Jefferies Group LLC increased their price objective on PRA Health Sciences from $72.00 to $72.50 and gave the company a “buy” rating in a report on Friday, April 28th. Zacks Investment Research raised PRA Health Sciences from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Tuesday. SunTrust Banks, Inc. reissued a “buy” rating on shares of PRA Health Sciences in a report on Wednesday, August 9th. Finally, Robert W. Baird increased their price objective on PRA Health Sciences from $82.00 to $83.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. PRA Health Sciences currently has an average rating of “Buy” and an average price target of $81.22.

PRA Health Sciences (NASDAQ:PRAH) traded down 0.71% during trading on Wednesday, reaching $75.16. The company had a trading volume of 792,478 shares. PRA Health Sciences has a 12 month low of $48.42 and a 12 month high of $80.99. The company has a market capitalization of $4.71 billion, a P/E ratio of 48.52 and a beta of 0.45. The stock has a 50 day moving average of $75.23 and a 200-day moving average of $67.76.

PRA Health Sciences (NASDAQ:PRAH) last issued its earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.72 by $0.10. PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. The firm had revenue of $457.90 million during the quarter, compared to analyst estimates of $447.79 million. During the same period in the previous year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts expect that PRA Health Sciences will post $3.18 EPS for the current fiscal year.

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In related news, VP Linda Baddour sold 100,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $74.85, for a total transaction of $7,485,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Colin Shannon sold 400,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $29,940,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,000,000 shares of company stock valued at $748,500,000. 2.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of PRA Health Sciences by 3.8% in the first quarter. Vanguard Group Inc. now owns 4,659,592 shares of the medical research company’s stock valued at $303,946,000 after buying an additional 170,812 shares during the last quarter. BlackRock Inc. increased its stake in shares of PRA Health Sciences by 28.2% in the second quarter. BlackRock Inc. now owns 3,662,954 shares of the medical research company’s stock valued at $274,759,000 after buying an additional 805,573 shares during the last quarter. Capital Research Global Investors increased its stake in shares of PRA Health Sciences by 318.3% in the second quarter. Capital Research Global Investors now owns 2,175,340 shares of the medical research company’s stock valued at $163,172,000 after buying an additional 1,655,336 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of PRA Health Sciences by 0.4% in the first quarter. Acadian Asset Management LLC now owns 2,153,016 shares of the medical research company’s stock valued at $140,441,000 after buying an additional 7,769 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of PRA Health Sciences during the first quarter valued at $82,935,000. Hedge funds and other institutional investors own 96.76% of the company’s stock.

About PRA Health Sciences

PRA Health Sciences, Inc is a contract research organization. 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.

Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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