Zacks Investment Research downgraded shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) from a buy rating to a hold rating in a research report sent to investors on Friday 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. “

Other research analysts have also recently issued research reports about the company. BidaskClub cut PRA Health Sciences from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Citigroup Inc. restated a buy rating and issued a $90.00 price target (up previously from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th. Bank of America Corporation initiated coverage on PRA Health Sciences in a research note on Monday, June 26th. They issued a buy rating and a $89.00 price target for the company. Jefferies Group LLC restated a buy rating and issued a $92.00 price target (up previously from $88.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. Finally, SunTrust Banks, Inc. restated a buy rating on shares of PRA Health Sciences in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $85.00.

Shares of PRA Health Sciences (PRAH) opened at 74.00 on Friday. The stock’s 50 day moving average price is $75.69 and its 200 day moving average price is $70.20. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 47.77 and a beta of 0.45. PRA Health Sciences has a 12 month low of $50.87 and a 12 month high of $80.99.

PRA Health Sciences (NASDAQ:PRAH) last released its 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). PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. The company had revenue of $457.90 million during the quarter, compared to the consensus estimate of $447.79 million. During the same period last year, the firm posted $0.63 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. Analysts expect that PRA Health Sciences will post $3.19 EPS for the current year.

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In other PRA Health Sciences news, CEO Colin Shannon sold 400,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $74.85, for a total value of $29,940,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $74.85, for a total value of $711,075,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,000,000 shares of company stock valued at $748,500,000. 2.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its position in 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 in the last quarter. American Century Companies Inc. purchased a new stake in PRA Health Sciences in the first quarter worth about $7,356,000. Sheaff Brock Investment Advisors LLC purchased a new stake in PRA Health Sciences in the second quarter worth about $1,016,000. Renaissance Group LLC increased its position in PRA Health Sciences by 2.5% in the second quarter. Renaissance Group LLC now owns 5,239 shares of the medical research company’s stock worth $393,000 after buying an additional 126 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in PRA Health Sciences by 32.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 28,968 shares of the medical research company’s stock worth $2,173,000 after buying an additional 7,076 shares in the last quarter. Institutional investors and hedge funds own 98.37% 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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