Credit Suisse Group restated their outperform rating on shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) in a research note published on Monday. They currently have a $90.00 price target on the medical research company’s stock, up from their prior price target of $84.00.
PRAH has been the subject of several other research reports. Zacks Investment Research cut PRA Health Sciences from a buy rating to a hold rating in a report on Friday, September 15th. SunTrust Banks, Inc. reaffirmed a buy rating on shares of PRA Health Sciences in a report on Wednesday, August 9th. Bank of America Corporation assumed coverage on PRA Health Sciences in a report on Monday, June 26th. They issued a buy rating and a $89.00 price target for the company. Citigroup Inc. reaffirmed a buy rating and issued a $93.00 price target (up previously from $90.00) on shares of PRA Health Sciences in a report on Thursday, August 10th. Finally, Robert W. Baird upped their price target on PRA Health Sciences from $82.00 to $83.00 and gave the company an outperform rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. PRA Health Sciences currently has an average rating of Buy and a consensus price target of $85.44.
Shares of PRA Health Sciences (PRAH) opened at 83.37 on Monday. PRA Health Sciences has a 12-month low of $50.87 and a 12-month high of $83.73. The stock has a market capitalization of $5.22 billion, a P/E ratio of 53.82 and a beta of 0.42. The firm’s 50-day moving average price is $77.14 and its 200 day moving average price is $72.89.
PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.10). The firm had revenue of $457.90 million during the quarter, compared to analyst estimates of $447.79 million. PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The company’s revenue was up .5% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. Analysts predict that PRA Health Sciences will post $3.19 EPS for the current fiscal year.
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In other news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was 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 SEC, which can be accessed through this link. Also, VP Linda Baddour sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $7,485,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,000,000 shares of company stock worth $748,500,000. Corporate insiders own 2.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PRA Health Sciences by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock valued at $112,000 after purchasing an additional 160 shares during the period. Meeder Asset Management Inc. grew its stake in shares of PRA Health Sciences by 144.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 906 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of PRA Health Sciences by 232.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock valued at $121,000 after purchasing an additional 1,289 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of PRA Health Sciences in the 1st quarter valued at approximately $136,000. Finally, CAPROCK Group Inc. bought a new stake in shares of PRA Health Sciences in the 2nd quarter valued at approximately $208,000. Institutional investors own 98.37% of the company’s stock.
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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