BidaskClub downgraded shares of PRA Health Sciences (NASDAQ:PRAH) from a strong-buy rating to a buy rating in a report issued on Tuesday, BidAskClub reports.
A number of other research firms have also weighed in on PRAH. Zacks Investment Research lowered 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. Barclays boosted their target price on shares of PRA Health Sciences from $115.00 to $118.00 and gave the company an overweight rating in a research note on Wednesday, September 4th. Wolfe Research upgraded shares of PRA Health Sciences from a peer perform rating to an outperform rating and set a $123.00 price target on the stock in a report on Thursday, November 14th. Jefferies Financial Group raised their price target on shares of PRA Health Sciences from $115.00 to $120.00 and gave the stock a buy rating in a research note on Friday, September 6th. Finally, Goldman Sachs Group assumed coverage on shares of PRA Health Sciences in a report on Thursday, September 19th. They set a buy rating and a $126.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. PRA Health Sciences has a consensus rating of Buy and a consensus price target of $115.78.
Shares of NASDAQ:PRAH traded up $0.78 during trading hours on Tuesday, hitting $104.24. 2,458 shares of the company’s stock traded hands, compared to its average volume of 418,734. The firm has a market capitalization of $6.45 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 1.59 and a beta of 1.13. The business has a fifty day moving average price of $103.96 and a 200-day moving average price of $99.30. PRA Health Sciences has a 1 year low of $82.12 and a 1 year high of $115.50. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.10 and a quick ratio of 1.10.
PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.03. PRA Health Sciences had a return on equity of 27.73% and a net margin of 8.00%. The firm had revenue of $780.70 million for the quarter, compared to the consensus estimate of $771.64 million. During the same period in the prior year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts predict that PRA Health Sciences will post 4.6 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of PRAH. Quadrant Capital Group LLC purchased a new stake in shares of PRA Health Sciences in the 3rd quarter worth approximately $38,000. Pearl River Capital LLC purchased a new position in shares of PRA Health Sciences in the 2nd quarter valued at $40,000. Cullen Frost Bankers Inc. raised its position in shares of PRA Health Sciences by 232.5% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 409 shares of the medical research company’s stock worth $40,000 after acquiring an additional 286 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of PRA Health Sciences in the 2nd quarter worth $49,000. Finally, CENTRAL TRUST Co raised its position in shares of PRA Health Sciences by 20.5% in the 3rd quarter. CENTRAL TRUST Co now owns 792 shares of the medical research company’s stock worth $79,000 after acquiring an additional 135 shares in the last quarter. 98.60% of the stock is owned by institutional investors and hedge funds.
About PRA Health Sciences
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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