Meritage Portfolio Management lessened its holdings in shares of PRA Health Sciences Inc (NASDAQ:PRAH) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,721 shares of the medical research company’s stock after selling 948 shares during the period. Meritage Portfolio Management owned approximately 0.10% of PRA Health Sciences worth $7,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Twin Tree Management LP purchased a new position in shares of PRA Health Sciences during the second quarter worth $120,000. Price Capital Management Inc. purchased a new position in shares of PRA Health Sciences during the third quarter worth $121,000. Mount Yale Investment Advisors LLC raised its holdings in shares of PRA Health Sciences by 103.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,704 shares of the medical research company’s stock worth $159,000 after purchasing an additional 867 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of PRA Health Sciences during the second quarter worth $201,000. Finally, Bremer Trust National Association purchased a new position in shares of PRA Health Sciences during the third quarter worth $205,000. 98.82% of the stock is owned by hedge funds and other institutional investors.
PRAH has been the subject of a number of recent analyst reports. BidaskClub raised shares of PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Evercore ISI initiated coverage on shares of PRA Health Sciences in a report on Thursday, October 4th. They issued an “inline” rating and a $120.00 price objective for the company. UBS Group initiated coverage on shares of PRA Health Sciences in a report on Tuesday, October 9th. They issued a “neutral” rating for the company. Robert W. Baird lifted their price objective on shares of PRA Health Sciences from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Tuesday, September 11th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $115.00 price objective on shares of PRA Health Sciences in a report on Thursday, August 2nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $110.50.
PRA Health Sciences (NASDAQ:PRAH) last released its earnings results on Wednesday, August 1st. The medical research company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. The business had revenue of $722.84 million during the quarter, compared to analysts’ expectations of $706.57 million. PRA Health Sciences had a net margin of 4.25% and a return on equity of 24.52%. The company’s quarterly revenue was up 35.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. As a group, equities analysts anticipate that PRA Health Sciences Inc will post 3.89 EPS for the current year.
In other news, major shareholder Pra Investors L.P. Kkr sold 6,500,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $101.01, for a total transaction of $656,565,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is owned by insiders.
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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