PRA Health Sciences, Inc. (NASDAQ:PRAH) announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.03, Bloomberg Earnings reports. PRA Health Sciences had a net margin of 5.64% and a return on equity of 21.66%. The company had revenue of $494.55 million for the quarter, compared to analysts’ expectations of $477.89 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. PRA Health Sciences’s quarterly revenue was up 23.7% on a year-over-year basis. PRA Health Sciences updated its FY17 guidance to $3.28-3.35 EPS.
PRA Health Sciences (NASDAQ PRAH) opened at $79.06 on Friday. PRA Health Sciences has a 1-year low of $51.16 and a 1-year high of $84.38. The company has a market cap of $5,094.29, a PE ratio of 29.56, a PEG ratio of 1.39 and a beta of 0.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.38.
In related news, 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 shares were sold at an average price of $74.85, for a total value of $711,075,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Linda Baddour sold 100,000 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 transaction of $7,485,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,000,000 shares of company stock valued at $748,500,000. 2.10% of the stock is owned by insiders.
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Several equities research analysts recently weighed in on PRAH shares. BidaskClub cut shares of PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of PRA Health Sciences from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Tuesday, August 15th. Credit Suisse Group boosted their price objective on shares of PRA Health Sciences from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Raymond James Financial, Inc. initiated coverage on shares of PRA Health Sciences in a research report on Wednesday, August 16th. They set an “outperform” rating and a $89.00 price objective on the stock. Finally, Mizuho initiated coverage on shares of PRA Health Sciences in a research report on Thursday, September 21st. They set a “buy” rating and a $82.00 price objective on the stock. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $88.09.
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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