PRA Health Sciences Inc (NASDAQ:PRAH) has been given a consensus recommendation of “Buy” by the thirteen ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $111.50.
A number of analysts have recently weighed in on the company. Evercore ISI assumed coverage on PRA Health Sciences in a research note on Thursday, October 4th. They set an “inline” rating and a $120.00 price objective for the company. Robert W. Baird increased their price objective on PRA Health Sciences from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. BidaskClub raised PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. SunTrust Banks increased their price objective on PRA Health Sciences from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, KeyCorp reissued a “buy” rating and set a $115.00 price objective on shares of PRA Health Sciences in a research note on Thursday, August 2nd.
Shares of NASDAQ:PRAH traded up $2.00 during trading on Monday, reaching $102.49. 456,637 shares of the company traded hands, compared to its average volume of 583,215. The firm has a market cap of $6.47 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 1.47 and a beta of 0.73. PRA Health Sciences has a 52-week low of $76.39 and a 52-week high of $112.88. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 0.89.
PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings data on Wednesday, October 31st. The medical research company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.06. The firm had revenue of $717.60 million during the quarter, compared to analyst estimates of $729.63 million. PRA Health Sciences had a return on equity of 25.75% and a net margin of 2.37%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Research analysts predict that PRA Health Sciences will post 3.92 EPS for the current year.
In related news, major shareholder Pra Investors L.P. Kkr sold 6,500,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $101.01, for a total value of $656,565,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.85% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in PRA Health Sciences by 27.2% during the second quarter. BlackRock Inc. now owns 5,426,909 shares of the medical research company’s stock valued at $506,656,000 after buying an additional 1,159,446 shares during the period. FMR LLC lifted its position in PRA Health Sciences by 84.6% during the second quarter. FMR LLC now owns 2,295,675 shares of the medical research company’s stock valued at $214,324,000 after buying an additional 1,051,810 shares during the period. Bank of New York Mellon Corp lifted its position in PRA Health Sciences by 44.2% during the second quarter. Bank of New York Mellon Corp now owns 2,197,004 shares of the medical research company’s stock valued at $205,113,000 after buying an additional 673,202 shares during the period. Swedbank purchased a new position in PRA Health Sciences during the third quarter valued at $104,802,000. Finally, Frontier Capital Management Co. LLC purchased a new position in PRA Health Sciences during the third quarter valued at $78,126,000. 98.82% of the stock is owned by institutional investors.
About PRA Health Sciences
PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development services to the biotechnology and pharmaceutical industries worldwide. The company operates in two segments, Clinical Research and Data Solutions. The Clinical Research segment offers product registration services, including clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services.
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