BlackRock Inc. Increases Position in PRA Health Sciences, Inc. (PRAH)

BlackRock Inc. Increases Position in PRA Health Sciences, Inc. (PRAH)

BlackRock Inc. increased its position in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) by 254.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,498 shares of the company’s stock after buying an additional 6,099 shares during the period. BlackRock Inc.’s holdings in PRA Health Sciences were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRAH. Columbia Wanger Asset Management LLC purchased a new stake in shares of PRA Health Sciences during the second quarter worth $46,366,000. Vanguard Group Inc. increased its stake in shares of PRA Health Sciences by 33.6% in the second quarter. Vanguard Group Inc. now owns 3,390,193 shares of the company’s stock worth $141,575,000 after buying an additional 852,713 shares during the period. Hood River Capital Management LLC increased its stake in shares of PRA Health Sciences by 124.0% in the third quarter. Hood River Capital Management LLC now owns 701,203 shares of the company’s stock worth $39,625,000 after buying an additional 388,141 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of PRA Health Sciences by 168,550.0% in the second quarter. Loomis Sayles & Co. L P now owns 310,316 shares of the company’s stock worth $12,959,000 after buying an additional 310,132 shares during the period. Finally, Highbridge Capital Management LLC purchased a new stake in shares of PRA Health Sciences during the second quarter worth $10,700,000. Institutional investors and hedge funds own 99.82% of the company’s stock.

Shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) traded up 1.52% during trading on Friday, reaching $56.26. 125,393 shares of the company traded hands. The stock has a market capitalization of $3.45 billion, a PE ratio of 43.68 and a beta of 0.53. PRA Health Sciences, Inc. has a 12-month low of $35.60 and a 12-month high of $60.96. The firm’s 50-day moving average is $55.47 and its 200-day moving average is $52.80.

PRA Health Sciences (NASDAQ:PRAH) last posted its earnings results on Wednesday, November 2nd. The company reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64. The firm earned $399.80 million during the quarter, compared to the consensus estimate of $394.87 million. PRA Health Sciences had a net margin of 4.86% and a return on equity of 21.25%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, equities analysts predict that PRA Health Sciences, Inc. will post $2.46 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on PRAH shares. Zacks Investment Research raised shares of PRA Health Sciences from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a report on Wednesday, October 5th. Credit Suisse Group reaffirmed a “hold” rating and set a $50.00 price target on shares of PRA Health Sciences in a report on Thursday, November 3rd. KeyCorp reaffirmed a “buy” rating on shares of PRA Health Sciences in a report on Friday, November 4th. TheStreet raised shares of PRA Health Sciences from a “hold” rating to a “buy” rating in a report on Monday, November 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $63.00 price target on shares of PRA Health Sciences in a report on Saturday, January 14th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.14.

About PRA Health Sciences

PRA Health Sciences, Inc is a contract research organization (CRO). 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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