Wall Street brokerages forecast that PRA Health Sciences Inc (NASDAQ:PRAH) will report $794.10 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for PRA Health Sciences’ earnings. The highest sales estimate is $800.30 million and the lowest is $790.37 million. PRA Health Sciences reported sales of $729.65 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.8%. The firm is scheduled to issue its next earnings report on Wednesday, February 26th.
On average, analysts expect that PRA Health Sciences will report full year sales of $3.06 billion for the current fiscal year, with estimates ranging from $3.06 billion to $3.07 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.30 billion, with estimates ranging from $3.28 billion to $3.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for PRA Health Sciences.
PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. PRA Health Sciences had a net margin of 8.00% and a return on equity of 27.73%. The company had revenue of $780.70 million for the quarter, compared to the consensus estimate of $771.64 million. During the same quarter in the previous year, the firm posted $1.13 EPS. The business’s revenue was up 8.8% compared to the same quarter last year.
A number of analysts recently weighed in on PRAH shares. Jefferies Financial Group upped their target price on shares of PRA Health Sciences from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, September 6th. BidaskClub cut shares of PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 27th. Zacks Investment Research cut shares of PRA Health Sciences from a “buy” rating to a “hold” rating and set a $108.00 target price on the stock. in a research note on Tuesday, November 5th. Goldman Sachs Group started coverage on shares of PRA Health Sciences in a research note on Thursday, September 19th. They issued a “buy” rating and a $126.00 target price on the stock. Finally, Wolfe Research raised shares of PRA Health Sciences from a “peer perform” rating to an “outperform” rating and set a $123.00 target price on the stock in a research note on Thursday, November 14th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $115.78.
Shares of NASDAQ:PRAH traded up $1.74 on Friday, hitting $107.46. 415,624 shares of the company were exchanged, compared to its average volume of 532,134. The company’s 50 day moving average price is $99.15 and its two-hundred day moving average price is $97.23. PRA Health Sciences has a one year low of $82.12 and a one year high of $121.98. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.43 and a beta of 1.11.
In related news, major shareholder Fund Holdings L.P. Kkr sold 6,666,684 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $97.41, for a total value of $649,401,688.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.95% of the company’s stock.
A number of institutional investors have recently modified their holdings of PRAH. Price T Rowe Associates Inc. MD grew its stake in PRA Health Sciences by 542.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,699,572 shares of the medical research company’s stock worth $465,963,000 after buying an additional 3,967,806 shares during the last quarter. Nuveen Asset Management LLC grew its stake in PRA Health Sciences by 19,902.8% during the second quarter. Nuveen Asset Management LLC now owns 650,290 shares of the medical research company’s stock worth $64,476,000 after buying an additional 647,039 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in PRA Health Sciences during the third quarter worth about $61,706,000. Atria Investments LLC grew its stake in PRA Health Sciences by 4,173.1% during the second quarter. Atria Investments LLC now owns 417,820 shares of the medical research company’s stock worth $4,617,000 after buying an additional 408,042 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in PRA Health Sciences during the third quarter worth about $21,317,000. 98.76% of the stock is currently owned by hedge funds and other institutional investors.
PRA Health Sciences Company Profile
PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution 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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