Gotham Asset Management LLC reduced its holdings in PRA Health Sciences, Inc. (NASDAQ:PRAH) by 44.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,062 shares of the medical research company’s stock after selling 63,941 shares during the quarter. Gotham Asset Management LLC owned 0.13% of PRA Health Sciences worth $6,080,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of PRA Health Sciences by 43,947.8% during the first quarter. BlackRock Inc. now owns 2,857,381 shares of the medical research company’s stock worth $186,387,000 after buying an additional 2,850,894 shares during the period. Capital Research Global Investors boosted 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 buying an additional 1,655,336 shares during the period. Harbour Capital Advisors LLC acquired a new position in shares of PRA Health Sciences during the second quarter worth about $6,400,000. Renaissance Technologies LLC acquired a new position in shares of PRA Health Sciences during the first quarter worth about $20,339,000. Finally, Hood River Capital Management LLC boosted its position in shares of PRA Health Sciences by 80.3% during the second quarter. Hood River Capital Management LLC now owns 619,924 shares of the medical research company’s stock worth $46,500,000 after buying an additional 276,045 shares during the period. Institutional investors own 98.37% of the company’s stock.
Shares of PRA Health Sciences, Inc. (PRAH) opened at 81.09 on Wednesday. The firm has a market capitalization of $5.08 billion, a PE ratio of 52.35 and a beta of 0.42. PRA Health Sciences, Inc. has a 52-week low of $50.87 and a 52-week high of $82.00. The stock has a 50 day moving average price of $76.65 and a 200-day moving average price of $72.51.
PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data 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). PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The firm had revenue of $457.90 million during the quarter, compared to analysts’ expectations of $447.79 million. During the same quarter in the previous year, the company posted $0.63 EPS. PRA Health Sciences’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts forecast that PRA Health Sciences, Inc. will post $3.19 EPS for the current year.
In other PRA Health Sciences news, VP Linda Baddour sold 100,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $7,485,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $711,075,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,000,000 shares of company stock worth $748,500,000. 2.10% of the stock is owned by company insiders.
PRAH has been the subject of several recent research reports. BidaskClub cut PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised PRA Health Sciences from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Tuesday, August 15th. Citigroup Inc. reaffirmed a “buy” rating and set a $90.00 price objective (up from $73.00) on shares of PRA Health Sciences in a research report on Wednesday, June 28th. Credit Suisse Group upped their price objective on PRA Health Sciences from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. Finally, Raymond James Financial, Inc. initiated coverage on PRA Health Sciences in a research report on Wednesday, August 16th. They set an “outperform” rating and a $89.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. PRA Health Sciences presently has an average rating of “Buy” and a consensus target price of $84.78.
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PRA Health Sciences 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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