ClariVest Asset Management LLC Lowers Position in PRA Health Sciences Inc (PRAH)

ClariVest Asset Management LLC cut its holdings in PRA Health Sciences Inc (NASDAQ:PRAH) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,290 shares of the medical research company’s stock after selling 1,244 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.11% of PRA Health Sciences worth $7,526,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lido Advisors LLC purchased a new stake in PRA Health Sciences in the second quarter worth about $322,000. Mount Yale Investment Advisors LLC lifted its stake in PRA Health Sciences by 103.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 1,704 shares of the medical research company’s stock worth $159,000 after acquiring an additional 867 shares during the period. Texas Permanent School Fund lifted its stake in PRA Health Sciences by 13.9% in the third quarter. Texas Permanent School Fund now owns 36,452 shares of the medical research company’s stock worth $4,017,000 after acquiring an additional 4,456 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in PRA Health Sciences in the third quarter worth about $78,126,000. Finally, State of Wisconsin Investment Board lifted its stake in PRA Health Sciences by 8.5% in the second quarter. State of Wisconsin Investment Board now owns 126,385 shares of the medical research company’s stock worth $11,799,000 after acquiring an additional 9,914 shares during the period. 98.82% of the stock is owned by institutional investors.

A number of research firms recently weighed in on PRAH. KeyCorp reaffirmed a “buy” rating and issued a $115.00 price objective on shares of PRA Health Sciences in a research note on Thursday, August 2nd. BidaskClub raised shares of PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price objective on shares of PRA Health Sciences in a research note on Friday, July 20th. Credit Suisse Group upped their price objective on shares of PRA Health Sciences from $104.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, August 2nd. Finally, SunTrust Banks upped their price objective on shares of PRA Health Sciences from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $111.50.

PRAH stock opened at $101.46 on Friday. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.48 and a beta of 0.73. PRA Health Sciences Inc has a one year low of $78.06 and a one year high of $112.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.22.

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

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

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