PRA Health Sciences, Inc. (PRAH) Earns Outperform Rating from Analysts at Raymond James Financial, Inc.

Analysts at Raymond James Financial, Inc. initiated coverage on shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) in a report issued on Wednesday. The brokerage set an “outperform” rating and a $89.00 price target on the medical research company’s stock. Raymond James Financial, Inc.’s target price suggests a potential upside of 18.41% from the stock’s previous close.

PRAH has been the topic of a number of other research reports. Jefferies Group LLC set a $73.00 price target on PRA Health Sciences and gave the stock a “buy” rating in a research report on Thursday, June 1st. SunTrust Banks, Inc. reissued a “buy” rating on shares of PRA Health Sciences in a research report on Wednesday, August 9th. Bank of America Corporation assumed coverage on PRA Health Sciences in a research report on Monday, June 26th. They set a “buy” rating and a $89.00 price target on the stock. Credit Suisse Group reissued an “outperform” rating and set a $76.00 price target (up previously from $69.00) on shares of PRA Health Sciences in a research report on Tuesday, June 6th. Finally, Citigroup Inc. reissued a “buy” rating and set a $93.00 price target (up previously from $90.00) on shares of PRA Health Sciences in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $81.22.

Shares of PRA Health Sciences (NASDAQ PRAH) traded down 0.71% during mid-day trading on Wednesday, reaching $75.16. The company had a trading volume of 792,478 shares. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 48.52 and a beta of 0.45. The firm’s 50-day moving average is $75.23 and its 200 day moving average is $67.76. PRA Health Sciences has a 12 month low of $48.42 and a 12 month high of $80.99.

PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.10. The business had revenue of $457.90 million for the quarter, compared to analyst estimates of $447.79 million. PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. PRA Health Sciences’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. On average, equities research analysts predict that PRA Health Sciences will post $3.18 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “PRA Health Sciences, Inc. (PRAH) Earns Outperform Rating from Analysts at Raymond James Financial, Inc.” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this article on another site, it was copied illegally and reposted in violation of U.S. & international copyright laws. The correct version of this article can be accessed at https://sportsperspectives.com/2017/08/16/pra-health-sciences-inc-prah-earns-outperform-rating-from-analysts-at-raymond-james-financial-inc.html.

In other news, VP Linda Baddour sold 100,000 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 $7,485,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Colin Shannon sold 400,000 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 $29,940,000.00. The disclosure for this sale can be found here. Insiders sold 10,000,000 shares of company stock worth $748,500,000 in the last ninety days. 2.10% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PRA Health Sciences by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock valued at $112,000 after buying an additional 160 shares during the last quarter. Meeder Asset Management Inc. increased its position in PRA Health Sciences by 144.0% in the second quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock valued at $115,000 after buying an additional 906 shares during the last quarter. Envestnet Asset Management Inc. increased its position in PRA Health Sciences by 232.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock valued at $121,000 after buying an additional 1,289 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in PRA Health Sciences during the first quarter valued at approximately $136,000. Finally, First Bank & Trust increased its position in PRA Health Sciences by 1.7% in the first quarter. First Bank & Trust now owns 3,159 shares of the medical research company’s stock valued at $206,000 after buying an additional 54 shares during the last quarter. 96.76% of the stock is currently owned by institutional investors.

PRA Health Sciences Company Profile

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.

Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

Receive News & Ratings for PRA Health Sciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PRA Health Sciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply