PRA Health Sciences, Inc. (NASDAQ:PRAH) has received a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $65.00.
PRAH has been the subject of several research analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $66.00 price objective on shares of PRA Health Sciences in a research report on Thursday, February 23rd. Avondale Partners upgraded shares of PRA Health Sciences from an “underperform” rating to a “market perform” rating and set a $63.00 price objective for the company in a research report on Monday, February 27th. Zacks Investment Research cut shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, March 2nd. Finally, Credit Suisse Group restated an “outperform” rating and issued a $76.00 price objective (up previously from $69.00) on shares of PRA Health Sciences in a research report on Tuesday, June 6th.
In other PRA Health Sciences news, insider David W. Dockhorn sold 85,182 shares of the company’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $62.00, for a total transaction of $5,281,284.00. Following the completion of the sale, the insider now owns 55,574 shares in the company, valued at approximately $3,445,588. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Colin Shannon sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $64.00, for a total transaction of $3,200,000.00. Following the sale, the chief executive officer now owns 50,000 shares of the company’s stock, valued at approximately $3,200,000. The disclosure for this sale can be found here. Insiders have sold a total of 331,575 shares of company stock valued at $20,969,915 in the last quarter. Corporate insiders own 2.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. boosted its stake in PRA Health Sciences by 124.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 683,085 shares of the medical research company’s stock worth $37,652,000 after buying an additional 378,871 shares in the last quarter. Century Capital Management LLC boosted its stake in PRA Health Sciences by 1,154.1% in the fourth quarter. Century Capital Management LLC now owns 94,057 shares of the medical research company’s stock worth $5,184,000 after buying an additional 86,557 shares in the last quarter. Norges Bank purchased a new stake in PRA Health Sciences during the fourth quarter worth approximately $42,341,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in PRA Health Sciences during the first quarter worth approximately $3,914,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in PRA Health Sciences by 0.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,752 shares of the medical research company’s stock worth $1,199,000 after buying an additional 130 shares in the last quarter.
Shares of PRA Health Sciences (NASDAQ:PRAH) traded up 0.65% during trading on Monday, hitting $72.64. The stock had a trading volume of 553,936 shares. The stock’s 50 day moving average is $70.17 and its 200 day moving average is $61.75. PRA Health Sciences has a 52 week low of $39.25 and a 52 week high of $75.43. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 43.39 and a beta of 0.48.
PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data on Tuesday, April 25th. The medical research company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. PRA Health Sciences had a net margin of 5.85% and a return on equity of 21.87%. The firm had revenue of $427.08 million during the quarter, compared to analysts’ expectations of $426.81 million. During the same quarter in the previous year, the company posted $0.55 EPS. PRA Health Sciences’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts expect that PRA Health Sciences will post $3.14 earnings per share for the current fiscal year.
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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