D.A. Davidson & CO. Trims Stake in PRA Health Sciences, Inc. (PRAH)
D.A. Davidson & CO. cut its position in PRA Health Sciences, Inc. (NASDAQ:PRAH) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,295 shares of the medical research company’s stock after selling 71 shares during the period. D.A. Davidson & CO.’s holdings in PRA Health Sciences were worth $247,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its position in PRA Health Sciences by 43,947.8% in the 1st quarter. BlackRock Inc. now owns 2,857,381 shares of the medical research company’s stock valued at $186,387,000 after buying an additional 2,850,894 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in PRA Health Sciences during the 1st quarter worth approximately $82,935,000. Marshall Wace North America L.P. acquired a new position in PRA Health Sciences during the 1st quarter worth approximately $82,935,000. Harbour Capital Advisors LLC acquired a new position in PRA Health Sciences during the 2nd quarter worth approximately $6,400,000. Finally, Renaissance Technologies LLC acquired a new position in PRA Health Sciences during the 1st quarter worth approximately $20,339,000. Institutional investors own 98.37% of the company’s stock.
Shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) opened at 77.54 on Wednesday. The stock has a 50 day moving average price of $75.94 and a 200 day moving average price of $71.77. The stock has a market capitalization of $4.86 billion, a P/E ratio of 50.06 and a beta of 0.42. PRA Health Sciences, Inc. has a 52 week low of $50.87 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 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.10). PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The company had revenue of $457.90 million for the quarter, compared to the consensus estimate of $447.79 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. PRA Health Sciences’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that PRA Health Sciences, Inc. will post $3.18 EPS for the current year.
A number of brokerages have commented on PRAH. Zacks Investment Research cut PRA Health Sciences from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. SunTrust Banks, Inc. restated a “buy” rating on shares of PRA Health Sciences in a report on Wednesday, August 9th. Bank of America Corporation assumed coverage on PRA Health Sciences in a research report on Monday, June 26th. They set a “buy” rating and a $89.00 target price on the stock. Credit Suisse Group reaffirmed an “outperform” rating and set a $76.00 target price (up from $69.00) on shares of PRA Health Sciences in a research report on Tuesday, June 6th. Finally, Citigroup Inc. reiterated 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. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $84.22.
In other PRA Health Sciences news, CEO Colin Shannon sold 400,000 shares of the firm’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 $29,940,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of PRA Health Sciences stock in a transaction dated Monday, August 14th. The stock was 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 currently owned by company insiders.
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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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