Zacks Investment Research cut shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) from a buy rating to a hold rating in a report issued on Thursday morning.

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 subject of a number of other research reports. Bank of America Corporation initiated coverage on shares of PRA Health Sciences in a research note on Monday, June 26th. They set a buy rating and a $89.00 price target for the company. Jefferies Group LLC restated a buy rating and set a $92.00 price target (up previously from $88.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. Citigroup Inc. restated a buy rating and set a $93.00 price target (up previously from $90.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. Credit Suisse Group raised their price target on shares of PRA Health Sciences from $80.00 to $84.00 and gave the stock an outperform rating in a research note on Tuesday, August 8th. Finally, BidaskClub cut shares of PRA Health Sciences from a strong-buy rating to a buy rating in a research note on Monday, July 31st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $85.00.

Shares of PRA Health Sciences (NASDAQ:PRAH) opened at 77.02 on Thursday. PRA Health Sciences has a 12 month low of $49.29 and a 12 month high of $80.99. The stock’s 50 day moving average price is $75.79 and its 200-day moving average price is $69.67. The firm has a market capitalization of $4.83 billion, a PE ratio of 49.72 and a beta of 0.45.

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

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In other news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of PRA Health Sciences 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 $711,075,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Colin Shannon sold 400,000 shares of PRA Health Sciences stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $29,940,000.00. The disclosure for this sale can be found here. Insiders sold 10,000,000 shares of company stock valued at $748,500,000 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of PRAH. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PRA Health Sciences by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock valued at $112,000 after acquiring an additional 160 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of PRA Health Sciences by 144.0% in the second quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 906 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of PRA Health Sciences by 232.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock valued at $121,000 after acquiring an additional 1,289 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of PRA Health Sciences in the first quarter valued at approximately $136,000. Finally, Teacher Retirement System of Texas bought a new position in shares of PRA Health Sciences in the first quarter valued at approximately $208,000. Institutional investors own 98.38% of the company’s stock.

PRA Health Sciences Company Profile

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.

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