PRA Health Sciences, Inc. (NASDAQ:PRAH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “PRA Health Sciences, Inc. operates as a global contract research organizations providing outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in the areas of cardio-metabolic, biosimilars, infectious diseases, immunology, neurology and psychiatry, oncology and hematology, rare diseases, and respiratory needs. The Company engages in bioanalytical laboratory, clinical pharmacology, clinical development, strategic solutions, post marketing research, clinical informatics, clinical diagnostics, and safety and risk management activities. PRA Health Sciences, Inc. is based in Raleigh, North Carolina. “

PRAH has been the topic of a number of other reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $92.00 target price (up from $88.00) on shares of PRA Health Sciences in a report on Thursday, August 10th. Citigroup Inc. reaffirmed a “buy” rating and issued a $93.00 target price (up from $90.00) on shares of PRA Health Sciences in a report on Thursday, August 10th. Credit Suisse Group upped their target price on shares of PRA Health Sciences from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Bank of America Corporation started coverage on shares of PRA Health Sciences in a report on Monday, June 26th. They issued a “buy” rating and a $89.00 target price on the stock. Finally, BidaskClub cut shares of PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.44.

Shares of PRA Health Sciences (NASDAQ:PRAH) opened at 76.98 on Tuesday. The firm’s 50-day moving average price is $75.42 and its 200-day moving average price is $68.56. The stock has a market cap of $4.82 billion, a P/E ratio of 49.70 and a beta of 0.45. PRA Health Sciences has a 52-week low of $48.42 and a 52-week high of $80.99.

PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 EPS 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 business had revenue of $457.90 million for the quarter, compared to the consensus estimate of $447.79 million. During the same period last year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that PRA Health Sciences will post $3.19 earnings per share for the current fiscal year.

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In related news, CEO Colin Shannon sold 400,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $29,940,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $711,075,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,000,000 shares of company stock worth $748,500,000. 2.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PRAH. PNC Financial Services Group Inc. raised its position in shares of PRA Health Sciences by 175.7% in the first quarter. PNC Financial Services Group Inc. now owns 44,764 shares of the medical research company’s stock worth $2,921,000 after buying an additional 28,526 shares during the period. American Century Companies Inc. bought a new position in shares of PRA Health Sciences during the first quarter worth approximately $7,356,000. Prudential Financial Inc. raised its position in shares of PRA Health Sciences by 109.8% in the first quarter. Prudential Financial Inc. now owns 328,630 shares of the medical research company’s stock worth $21,437,000 after buying an additional 171,980 shares during the period. Bank of New York Mellon Corp raised its position in shares of PRA Health Sciences by 6.9% in the first quarter. Bank of New York Mellon Corp now owns 218,490 shares of the medical research company’s stock worth $14,253,000 after buying an additional 14,059 shares during the period. Finally, Bank of Nova Scotia bought a new position in shares of PRA Health Sciences during the first quarter worth approximately $6,523,000. Institutional investors and hedge funds own 98.38% 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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