SunTrust Banks Boosts PRA Health Sciences (PRAH) Price Target to $120.00

PRA Health Sciences (NASDAQ:PRAH) had its target price hoisted by SunTrust Banks to $120.00 in a research report released on Monday, The Fly reports. They currently have a buy rating on the medical research company’s stock.

A number of other equities research analysts have also recently weighed in on PRAH. BidaskClub cut shares of PRA Health Sciences from a strong-buy rating to a buy rating in a research note on Wednesday, August 8th. Barclays lifted their price target on PRA Health Sciences from $100.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, August 2nd. Mizuho set a $100.00 target price on PRA Health Sciences and gave the company a hold rating in a research note on Monday, August 6th. Credit Suisse Group lifted their target price on PRA Health Sciences from $104.00 to $107.00 and gave the company an outperform rating in a research note on Thursday, August 2nd. Finally, Jefferies Financial Group reissued a buy rating and issued a $115.00 price target on shares of PRA Health Sciences in a research note on Friday, July 20th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. PRA Health Sciences has an average rating of Buy and an average target price of $111.50.

PRA Health Sciences stock traded down $1.53 during mid-day trading on Monday, reaching $106.07. The company’s stock had a trading volume of 51,488 shares, compared to its average volume of 487,309. The company has a market cap of $6.71 billion, a PE ratio of 33.15, a P/E/G ratio of 1.51 and a beta of 0.73. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.89 and a quick ratio of 0.93. PRA Health Sciences has a twelve month low of $76.39 and a twelve month high of $112.88.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings data on Wednesday, October 31st. The medical research company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.06. The firm had revenue of $717.60 million during the quarter, compared to the consensus estimate of $729.63 million. PRA Health Sciences had a net margin of 2.37% and a return on equity of 25.75%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. Equities research analysts anticipate that PRA Health Sciences will post 3.93 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Carnegie Capital Asset Management LLC lifted its stake in shares of PRA Health Sciences by 0.9% during the second quarter. Carnegie Capital Asset Management LLC now owns 59,966 shares of the medical research company’s stock valued at $6,083,000 after acquiring an additional 556 shares during the period. Strs Ohio lifted its stake in shares of PRA Health Sciences by 14.2% during the third quarter. Strs Ohio now owns 4,582 shares of the medical research company’s stock valued at $504,000 after acquiring an additional 569 shares during the period. Bank of Montreal Can lifted its stake in shares of PRA Health Sciences by 12.8% during the third quarter. Bank of Montreal Can now owns 6,491 shares of the medical research company’s stock valued at $715,000 after acquiring an additional 738 shares during the period. MML Investors Services LLC lifted its stake in shares of PRA Health Sciences by 34.7% during the third quarter. MML Investors Services LLC now owns 3,006 shares of the medical research company’s stock valued at $331,000 after acquiring an additional 774 shares during the period. Finally, Securian Asset Management Inc lifted its stake in shares of PRA Health Sciences by 12.4% during the third quarter. Securian Asset Management Inc now owns 7,071 shares of the medical research company’s stock valued at $779,000 after acquiring an additional 780 shares during the period. 98.82% of the stock is currently owned by institutional investors and hedge funds.

About PRA Health Sciences

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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