Mizuho assumed coverage on shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) in a research report released on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $82.00 price target on the medical research company’s stock.
Other research analysts have also recently issued reports about the company. Raymond James Financial, Inc. began coverage on PRA Health Sciences in a research note on Wednesday, August 16th. They set an outperform rating and a $89.00 price target on the stock. Citigroup Inc. restated a buy rating and set a $90.00 price target (up from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th. SunTrust Banks, Inc. restated a buy rating on shares of PRA Health Sciences in a research note on Wednesday, August 9th. Robert W. Baird upped their price target on PRA Health Sciences from $82.00 to $83.00 and gave the stock an outperform rating in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC set a $73.00 price target on PRA Health Sciences and gave the stock a buy rating in a research note on Thursday, June 1st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $84.22.
PRA Health Sciences (NASDAQ PRAH) opened at 75.09 on Thursday. The stock has a market capitalization of $4.70 billion, a P/E ratio of 48.48 and a beta of 0.45. The firm’s 50-day moving average price is $75.71 and its 200 day moving average price is $70.59. PRA Health Sciences has a 12-month low of $50.87 and a 12-month high of $80.99.
PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.10). PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. The firm had revenue of $457.90 million for the quarter, compared to analyst estimates of $447.79 million. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts anticipate that PRA Health Sciences will post $3.19 EPS for the current year.
In other news, CEO Colin Shannon sold 400,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $74.85, for a total transaction of $29,940,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 10,000,000 shares of company stock worth $748,500,000 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of PRA Health Sciences by 3.8% during the first quarter. Vanguard Group Inc. now owns 4,659,592 shares of the medical research company’s stock worth $303,946,000 after acquiring an additional 170,812 shares during the period. BlackRock Inc. increased its position in shares of PRA Health Sciences by 28.2% during the second quarter. BlackRock Inc. now owns 3,662,954 shares of the medical research company’s stock worth $274,759,000 after acquiring an additional 805,573 shares during the period. Capital Research Global Investors increased its position in shares of PRA Health Sciences by 318.3% during the second quarter. Capital Research Global Investors now owns 2,175,340 shares of the medical research company’s stock worth $163,172,000 after acquiring an additional 1,655,336 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in shares of PRA Health Sciences during the first quarter worth $82,935,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of PRA Health Sciences during the first quarter worth $82,935,000. 98.37% of the stock is currently owned by institutional investors and hedge funds.
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.
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