Mitsubishi UFJ Financial Group Begins Coverage on PRA Health Sciences (PRAH)

Mitsubishi UFJ Financial Group assumed coverage on shares of PRA Health Sciences (NASDAQ:PRAH) in a research note issued to investors on Friday. The firm issued an overweight rating and a $102.00 target price on the medical research company’s stock.

Several other brokerages have also recently issued reports on PRAH. BidaskClub upgraded PRA Health Sciences from a hold rating to a buy rating in a research report on Thursday. Barclays began coverage on PRA Health Sciences in a research report on Monday, December 11th. They set an overweight rating and a $94.00 price target on the stock. Mizuho set a $87.00 price target on PRA Health Sciences and gave the company a buy rating in a research report on Friday, December 1st. SunTrust Banks reiterated a buy rating and set a $101.00 price target on shares of PRA Health Sciences in a research report on Friday, October 27th. Finally, Credit Suisse Group reiterated an outperform rating and set a $90.00 price target (up from $84.00) on shares of PRA Health Sciences in a research report on Monday, October 16th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. PRA Health Sciences presently has a consensus rating of Buy and a consensus price target of $90.46.

PRA Health Sciences (NASDAQ PRAH) opened at $90.25 on Friday. PRA Health Sciences has a 1 year low of $53.47 and a 1 year high of $90.43. The stock has a market capitalization of $5,719.14, a price-to-earnings ratio of 33.18, a PEG ratio of 1.56 and a beta of 0.40. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.01 and a current ratio of 1.01.

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

In other news, Director Matthew P. Young sold 5,115 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $79.90, for a total transaction of $408,688.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Group LLC boosted its stake in shares of PRA Health Sciences by 2.5% during the 2nd quarter. Renaissance Group LLC now owns 5,239 shares of the medical research company’s stock worth $393,000 after acquiring an additional 126 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of PRA Health Sciences by 1.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,505 shares of the medical research company’s stock worth $638,000 after buying an additional 160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 worth $112,000 after buying an additional 160 shares during the period. Zacks Investment Management boosted its position in shares of PRA Health Sciences by 1.3% in the second quarter. Zacks Investment Management now owns 48,885 shares of the medical research company’s stock worth $3,667,000 after buying an additional 614 shares during the period. Finally, Sei Investments Co. boosted its position in shares of PRA Health Sciences by 4.9% in the second quarter. Sei Investments Co. now owns 14,654 shares of the medical research company’s stock worth $1,100,000 after buying an additional 690 shares during the period. 98.49% of the stock is owned by institutional investors and hedge funds.

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About PRA Health Sciences

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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