Bank of New York Mellon Corp Acquires 65,887 Shares of PRA Health Sciences Inc (PRAH)

Bank of New York Mellon Corp grew its holdings in PRA Health Sciences Inc (NASDAQ:PRAH) by 26.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 319,233 shares of the medical research company’s stock after buying an additional 65,887 shares during the quarter. Bank of New York Mellon Corp owned 0.50% of PRA Health Sciences worth $24,316,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PRAH. Capital Research Global Investors raised its stake in shares of PRA Health Sciences by 318.3% in the 2nd quarter. Capital Research Global Investors now owns 2,175,340 shares of the medical research company’s stock valued at $163,172,000 after buying an additional 1,655,336 shares in the last quarter. BlackRock Inc. increased its position in shares of PRA Health Sciences by 28.2% during the 2nd quarter. BlackRock Inc. now owns 3,662,954 shares of the medical research company’s stock worth $274,759,000 after purchasing an additional 805,573 shares in the last quarter. Hood River Capital Management LLC increased its position in shares of PRA Health Sciences by 80.3% during the 2nd quarter. Hood River Capital Management LLC now owns 619,924 shares of the medical research company’s stock worth $46,500,000 after purchasing an additional 276,045 shares in the last quarter. State Street Corp increased its position in shares of PRA Health Sciences by 52.8% during the 2nd quarter. State Street Corp now owns 782,800 shares of the medical research company’s stock worth $58,729,000 after purchasing an additional 270,530 shares in the last quarter. Finally, South Texas Money Management Ltd. acquired a new stake in shares of PRA Health Sciences during the 2nd quarter worth about $14,130,000. Institutional investors own 98.49% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Raymond James Financial assumed coverage on shares of PRA Health Sciences in a research report on Wednesday, August 16th. They set an “outperform” rating and a $89.00 target price for the company. BidaskClub upgraded shares of PRA Health Sciences from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays assumed coverage on shares of PRA Health Sciences in a research report on Monday. They set an “overweight” rating and a $94.00 target price for the company. Zacks Investment Research upgraded shares of PRA Health Sciences from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Wednesday, August 23rd. Finally, SunTrust Banks reiterated a “buy” rating and set a $101.00 target price on shares of PRA Health Sciences in a research report on Friday, October 27th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $89.50.

Shares of PRA Health Sciences Inc (NASDAQ:PRAH) opened at $87.23 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $5,361.71, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.46 and a beta of 0.40. PRA Health Sciences Inc has a 1 year low of $53.47 and a 1 year high of $88.60.

PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.03. The firm had revenue of $494.55 million during the quarter, compared to analysts’ expectations of $477.89 million. PRA Health Sciences had a net margin of 5.64% and a return on equity of 21.66%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. equities research analysts forecast that PRA Health Sciences Inc will post 3.2 earnings per share for the current fiscal year.

In other PRA Health Sciences news, Director Matthew P. Young sold 5,115 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.90, for a total value of $408,688.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

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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.

Institutional Ownership by Quarter for PRA Health Sciences (NASDAQ:PRAH)

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