The PRA Health Sciences, Inc. (PRAH) Given “Buy” Rating at Credit Suisse Group

The PRA Health Sciences, Inc. (PRAH) Given “Buy” Rating at Credit Suisse Group

PRA Health Sciences, Inc. (NASDAQ:PRAH)‘s stock had its “buy” rating restated by analysts at Credit Suisse Group in a note issued to investors on Thursday.

PRAH has been the subject of several other reports. Zacks Investment Research downgraded PRA Health Sciences from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. SunTrust Banks, Inc. reissued a “buy” rating on shares of PRA Health Sciences in a research note on Wednesday, August 9th. Citigroup Inc reissued a “buy” rating and issued a $93.00 price objective (up from $90.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. Robert W. Baird increased their price objective on PRA Health Sciences from $82.00 to $83.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $92.00 price objective (up from $88.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $85.78.

Shares of PRA Health Sciences (NASDAQ:PRAH) traded up 2.17% on Thursday, reaching $82.24. 1,417,864 shares of the company traded hands. PRA Health Sciences has a 52-week low of $50.87 and a 52-week high of $84.38. The company has a market capitalization of $5.15 billion, a PE ratio of 53.09 and a beta of 0.42. The firm has a 50-day moving average of $78.28 and a 200-day moving average of $73.83.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.03. PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. The business had revenue of $494.55 million during the quarter, compared to analyst estimates of $477.89 million. During the same quarter last year, the company posted $0.64 EPS. PRA Health Sciences’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, equities research analysts forecast that PRA Health Sciences will post $3.20 earnings per share for the current fiscal year.

In related news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $74.85, for a total value of $711,075,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Colin Shannon sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $29,940,000.00. The disclosure for this sale can be found here. Insiders sold a total of 10,000,000 shares of company stock worth $748,500,000 over the last three months. 2.10% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PRA Health Sciences by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock valued at $112,000 after acquiring an additional 160 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in shares of PRA Health Sciences by 127.4% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,410 shares of the medical research company’s stock valued at $112,000 after acquiring an additional 790 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of PRA Health Sciences by 144.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 906 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of PRA Health Sciences by 232.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock valued at $121,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of PRA Health Sciences in the 1st quarter valued at approximately $208,000. 98.29% of the stock is currently owned by institutional investors and hedge funds.

PRA Health Sciences Company Profile

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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