State Board of Administration of Florida Retirement System boosted its holdings in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) by 32.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,968 shares of the medical research company’s stock after purchasing an additional 7,076 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in PRA Health Sciences were worth $2,173,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. boosted its position in PRA Health Sciences by 144.0% during the second quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock worth $115,000 after purchasing an additional 906 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in PRA Health Sciences by 232.3% during the first quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock worth $121,000 after purchasing an additional 1,289 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in PRA Health Sciences during the first quarter worth approximately $136,000. Teacher Retirement System of Texas purchased a new position in PRA Health Sciences during the first quarter worth approximately $208,000. Finally, CAPROCK Group Inc. purchased a new position in PRA Health Sciences during the second quarter worth approximately $208,000. Institutional investors own 98.38% of the company’s stock.

PRAH has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded PRA Health Sciences from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Wednesday, August 30th. Citigroup Inc. reiterated a “buy” rating and set a $90.00 price target (up previously from $73.00) on shares of PRA Health Sciences in a research report on Wednesday, June 28th. Jefferies Group LLC set a $73.00 price target on PRA Health Sciences and gave the stock a “buy” rating in a research report on Thursday, June 1st. Credit Suisse Group reiterated an “outperform” rating and set a $76.00 price target (up previously from $69.00) on shares of PRA Health Sciences in a research report on Tuesday, June 6th. Finally, Bank of America Corporation initiated coverage on PRA Health Sciences in a research report on Monday, June 26th. They set a “buy” rating and a $89.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.00.

In related news, CEO Colin Shannon sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $74.85, for a total value of $29,940,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Linda Baddour sold 100,000 shares of the company’s 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 $7,485,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,000,000 shares of company stock worth $748,500,000 in the last three months. Corporate insiders own 2.10% of the company’s stock.

PRA Health Sciences, Inc. (NASDAQ PRAH) opened at 77.24 on Tuesday. The stock has a market cap of $4.84 billion, a P/E ratio of 49.86 and a beta of 0.45. PRA Health Sciences, Inc. has a 52-week low of $50.87 and a 52-week high of $80.99. The stock has a 50 day moving average price of $75.81 and a 200 day moving average price of $69.87.

PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.10. The firm had revenue of $457.90 million for the quarter, compared to analysts’ expectations of $447.79 million. PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. PRA Health Sciences’s revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. On average, equities research analysts forecast that PRA Health Sciences, Inc. will post $3.19 EPS for the current year.

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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.

Institutional Ownership by Quarter for PRA Health Sciences (NASDAQ:PRAH)

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