Brokerages Anticipate PRA Health Sciences Inc (PRAH) to Post $1.08 Earnings Per Share

Wall Street brokerages forecast that PRA Health Sciences Inc (NASDAQ:PRAH) will post $1.08 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for PRA Health Sciences’ earnings, with the highest EPS estimate coming in at $1.12 and the lowest estimate coming in at $1.05. PRA Health Sciences reported earnings per share of $0.88 during the same quarter last year, which suggests a positive year-over-year growth rate of 22.7%. The company is scheduled to issue its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that PRA Health Sciences will report full-year earnings of $4.19 per share for the current financial year, with EPS estimates ranging from $4.15 to $4.21. For the next financial year, analysts forecast that the company will report earnings of $4.93 per share, with EPS estimates ranging from $4.68 to $5.06. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow PRA Health Sciences.

PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings results on Wednesday, August 1st. The medical research company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.12. PRA Health Sciences had a return on equity of 24.52% and a net margin of 4.25%. The firm had revenue of $722.84 million for the quarter, compared to analyst estimates of $706.57 million. During the same period in the previous year, the company posted $0.79 earnings per share. The company’s quarterly revenue was up 35.4% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the company. Robert W. Baird upped their price objective on PRA Health Sciences from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Tuesday. BidaskClub upgraded PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. SunTrust Banks increased their price target on PRA Health Sciences from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. KeyCorp restated a “buy” rating and set a $115.00 price target on shares of PRA Health Sciences in a research report on Thursday, August 2nd. Finally, Barclays increased their price target on PRA Health Sciences from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. PRA Health Sciences has an average rating of “Buy” and an average price target of $109.44.

In related news, major shareholder Pra Investors L.P. Kkr sold 6,500,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $101.01, for a total transaction of $656,565,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.85% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of PRA Health Sciences in the 1st quarter valued at $708,000. State of Wisconsin Investment Board increased its position in shares of PRA Health Sciences by 8.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 126,385 shares of the medical research company’s stock valued at $11,799,000 after buying an additional 9,914 shares in the last quarter. State Treasurer State of Michigan bought a new stake in shares of PRA Health Sciences in the 2nd quarter valued at $1,736,000. Fuller & Thaler Asset Management Inc. increased its position in shares of PRA Health Sciences by 4.1% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 128,300 shares of the medical research company’s stock valued at $11,978,000 after buying an additional 5,000 shares in the last quarter. Finally, Bellevue Group AG bought a new stake in shares of PRA Health Sciences in the 2nd quarter valued at $12,081,000. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PRAH stock traded up $0.23 during trading hours on Friday, hitting $111.63. The company had a trading volume of 375,846 shares, compared to its average volume of 460,688. PRA Health Sciences has a 12 month low of $73.23 and a 12 month high of $112.88. The firm has a market cap of $7.08 billion, a P/E ratio of 34.88, a P/E/G ratio of 1.67 and a beta of 0.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.33.

PRA Health Sciences Company Profile

PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development services to the biotechnology and pharmaceutical industries worldwide. The company operates in two segments, Clinical Research and Data Solutions. The Clinical Research segment offers product registration services, including clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services.

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