PRA Health Sciences, Inc. (PRAH) Shares Bought by Alliancebernstein L.P.
Alliancebernstein L.P. boosted its position in PRA Health Sciences, Inc. (NASDAQ:PRAH) by 26.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,167 shares of the medical research company’s stock after purchasing an additional 15,900 shares during the period. Alliancebernstein L.P. owned about 0.12% of PRA Health Sciences worth $5,788,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PRAH. BlackRock Inc. lifted its stake in PRA Health Sciences by 43,947.8% in the first quarter. BlackRock Inc. now owns 2,857,381 shares of the medical research company’s stock valued at $186,387,000 after purchasing an additional 2,850,894 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in PRA Health Sciences in the first quarter valued at approximately $82,935,000. Marshall Wace North America L.P. purchased a new position in PRA Health Sciences in the first quarter valued at approximately $82,935,000. Harbour Capital Advisors LLC purchased a new position in PRA Health Sciences in the second quarter valued at approximately $6,400,000. Finally, Renaissance Technologies LLC purchased a new position in PRA Health Sciences in the first quarter valued at approximately $20,339,000. Institutional investors and hedge funds own 98.37% of the company’s stock.
Shares of PRA Health Sciences, Inc. (NASDAQ PRAH) opened at 76.17 on Friday. PRA Health Sciences, Inc. has a one year low of $50.87 and a one year high of $80.99. The company has a market cap of $4.77 billion, a PE ratio of 49.17 and a beta of 0.45. The firm’s 50-day moving average is $75.71 and its 200-day moving average is $70.59.
PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.10). The business 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%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. On average, equities analysts anticipate that PRA Health Sciences, Inc. will post $3.19 EPS for the current year.
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A number of brokerages have issued reports on PRAH. Zacks Investment Research cut shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Friday, September 15th. SunTrust Banks, Inc. reissued a “buy” rating on shares of PRA Health Sciences in a report on Wednesday, August 9th. Bank of America Corporation began coverage on shares of PRA Health Sciences in a report on Monday, June 26th. They set a “buy” rating and a $89.00 target price on the stock. Credit Suisse Group reissued an “outperform” rating and set a $76.00 target price (up previously from $69.00) on shares of PRA Health Sciences in a report on Tuesday, June 6th. Finally, Citigroup Inc. reissued a “buy” rating and set a $93.00 target price (up previously from $90.00) on shares of PRA Health Sciences in a report on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $84.22.
In other news, VP Linda Baddour sold 100,000 shares of PRA Health Sciences stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $7,485,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Colin Shannon sold 400,000 shares of PRA Health Sciences stock in a transaction on Monday, August 14th. The stock was 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 have sold a total of 10,000,000 shares of company stock worth $748,500,000 in the last quarter. Corporate insiders own 2.10% 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.
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