UBS Asset Management Americas Inc. Boosts Stake in PRA Health Sciences, Inc. (PRAH)

UBS Asset Management Americas Inc. increased its position in PRA Health Sciences, Inc. (NASDAQ:PRAH) by 6.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 22,058 shares of the medical research company’s stock after purchasing an additional 1,303 shares during the period. UBS Asset Management Americas Inc.’s holdings in PRA Health Sciences were worth $1,655,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PRA Health Sciences by 12.0% during the 2nd 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 PRA Health Sciences by 144.0% during the 2nd 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 PRA Health Sciences by 232.3% during the 1st 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. purchased a new stake in PRA Health Sciences during the 1st quarter valued at approximately $136,000. Finally, Teacher Retirement System of Texas purchased a new stake in PRA Health Sciences during the 1st quarter valued at approximately $208,000. 98.37% of the stock is owned by institutional investors and hedge funds.

PRA Health Sciences, Inc. (NASDAQ PRAH) opened at 82.25 on Wednesday. PRA Health Sciences, Inc. has a 52-week low of $50.87 and a 52-week high of $83.44. The firm has a market cap of $5.15 billion, a PE ratio of 53.10 and a beta of 0.42. The firm’s 50-day moving average price is $77.14 and its 200 day moving average price is $72.89.

PRA Health Sciences (NASDAQ:PRAH) last issued its earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $457.90 million during the quarter, compared to the consensus estimate of $447.79 million. During the same period in the prior year, the business earned $0.63 EPS. The business’s revenue was up .5% on a year-over-year basis. On average, equities analysts anticipate that PRA Health Sciences, Inc. will post $3.20 earnings per share for the current year.

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In other PRA Health Sciences news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 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 value of $711,075,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Colin Shannon sold 400,000 shares of the firm’s stock in a transaction dated 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 sold 10,000,000 shares of company stock worth $748,500,000 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Several analysts have commented on PRAH shares. Bank of America Corporation started coverage on PRA Health Sciences in a research note on Monday, June 26th. They set a “buy” rating and a $89.00 price objective for the company. Citigroup Inc. reaffirmed a “buy” rating and set a $90.00 price objective (up from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th. BidaskClub downgraded PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Robert W. Baird upped their price objective on PRA Health Sciences from $82.00 to $83.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. Finally, Credit Suisse Group upped their price objective on PRA Health Sciences from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. PRA Health Sciences currently has a consensus rating of “Buy” and a consensus target price of $85.44.

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

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