PRA Health Sciences, Inc. (PRAH) Expected to Announce Earnings of $0.84 Per Share

Analysts expect that PRA Health Sciences, Inc. (NASDAQ:PRAH) will report earnings per share of $0.84 for the current quarter, according to Zacks. Seven analysts have made estimates for PRA Health Sciences’ earnings, with the highest EPS estimate coming in at $0.87 and the lowest estimate coming in at $0.80. PRA Health Sciences posted earnings per share of $0.64 in the same quarter last year, which would indicate a positive year-over-year growth rate of 31.3%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, October 25th.

On average, analysts expect that PRA Health Sciences will report full-year earnings of $3.18 per share for the current year, with EPS estimates ranging from $3.14 to $3.20. For the next financial year, analysts expect that the firm will post earnings of $3.89 per share, with EPS estimates ranging from $3.85 to $3.93. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow PRA Health Sciences.

PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $447.79 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year.

Several brokerages have weighed in on PRAH. SunTrust Banks, Inc. reiterated a “buy” rating on shares of PRA Health Sciences in a research report on Wednesday, August 9th. Credit Suisse Group boosted their price objective on PRA Health Sciences from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Robert W. Baird boosted their price objective on PRA Health Sciences from $82.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Citigroup Inc. reiterated a “buy” rating and issued a $93.00 price objective (up previously from $90.00) on shares of PRA Health Sciences in a research report on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $92.00 price objective (up previously from $88.00) on shares of PRA Health Sciences in a research report on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $85.44.

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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 stock was 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 through this hyperlink. 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 value 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 over the last three months. Insiders own 2.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new position in PRA Health Sciences in the second quarter worth about $359,000. Ameritas Investment Partners Inc. boosted its position in PRA Health Sciences by 62.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,404 shares of the medical research company’s stock worth $255,000 after purchasing an additional 1,315 shares during the last quarter. California State Teachers Retirement System boosted its position in PRA Health Sciences by 44.1% in the second quarter. California State Teachers Retirement System now owns 68,668 shares of the medical research company’s stock worth $5,151,000 after purchasing an additional 21,031 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in PRA Health Sciences by 56.7% in the second quarter. The Manufacturers Life Insurance Company now owns 30,553 shares of the medical research company’s stock worth $2,292,000 after purchasing an additional 11,057 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in PRA Health Sciences by 160.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 99,600 shares of the medical research company’s stock worth $7,471,000 after purchasing an additional 61,400 shares during the last quarter. 98.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of PRA Health Sciences (NASDAQ:PRAH) traded up 0.24% during mid-day trading on Thursday, reaching $82.60. The company’s stock had a trading volume of 340,714 shares. PRA Health Sciences has a 52-week low of $50.87 and a 52-week high of $82.73. The company has a market cap of $5.17 billion, a PE ratio of 53.32 and a beta of 0.42. The company has a 50-day moving average price of $77.83 and a 200 day moving average price of $73.28.

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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Earnings History and Estimates for PRA Health Sciences (NASDAQ:PRAH)

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