PRA Health Sciences (PRAH) Releases FY 2018 Earnings Guidance

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PRA Health Sciences (NASDAQ:PRAH) updated its FY 2018 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.22-4.27 for the period, compared to the Thomson Reuters consensus estimate of $4.19. The company issued revenue guidance of $2.87-2.92 billion, compared to the consensus revenue estimate of $2.91 billion.

Several brokerages have recently weighed in on PRAH. BidaskClub downgraded shares of PRA Health Sciences from a strong-buy rating to a buy rating in a report on Wednesday, August 8th. Zacks Investment Research raised shares of PRA Health Sciences from a hold rating to a buy rating and set a $105.00 target price on the stock in a report on Tuesday, July 3rd. Barclays lifted their target price on shares of PRA Health Sciences from $100.00 to $115.00 and gave the company an overweight rating in a report on Thursday, August 2nd. SunTrust Banks lifted their target price on shares of PRA Health Sciences from $100.00 to $110.00 and gave the company a buy rating in a report on Friday, August 3rd. Finally, Mizuho set a $100.00 target price on shares of PRA Health Sciences and gave the company a hold rating in a report on Monday, August 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $110.50.

Shares of NASDAQ PRAH traded up $2.24 during midday trading on Wednesday, hitting $96.87. The company had a trading volume of 418,209 shares, compared to its average volume of 580,005. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. PRA Health Sciences has a twelve month low of $76.39 and a twelve month high of $112.88. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51.

PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings data on Wednesday, August 1st. The medical research company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.12. PRA Health Sciences had a net margin of 4.25% and a return on equity of 24.52%. The firm had revenue of $722.84 million during the quarter, compared to analysts’ expectations of $706.57 million. During the same quarter last year, the business earned $0.79 earnings per share. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. Equities research analysts expect that PRA Health Sciences will post 3.89 EPS for the current fiscal year.

In related news, major shareholder Pra Investors L.P. Kkr sold 6,500,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $101.01, for a total value of $656,565,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is owned by company insiders.

PRA Health Sciences Company Profile

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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Earnings History and Estimates for PRA Health Sciences (NASDAQ:PRAH)

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