PRA Health Sciences (NASDAQ:PRAH) had its price target increased by stock analysts at Robert W. Baird from $112.00 to $116.00 in a note issued to investors on Tuesday, September 11th. The firm presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price target suggests a potential upside of 9.05% from the company’s previous close.
A number of other analysts also recently commented on the company. BidaskClub upgraded PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. SunTrust Banks boosted their target price 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 reiterated a “buy” rating and set a $115.00 target price on shares of PRA Health Sciences in a research report on Thursday, August 2nd. Barclays boosted their target price 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. Finally, Credit Suisse Group boosted their price target on PRA Health Sciences from $104.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. PRA Health Sciences presently has a consensus rating of “Buy” and a consensus price target of $110.50.
Shares of PRAH stock traded up $0.90 during midday trading on Tuesday, hitting $106.37. The company had a trading volume of 397,560 shares, compared to its average volume of 595,000. PRA Health Sciences has a 52-week low of $76.39 and a 52-week high of $112.88. The company has a market capitalization of $7.09 billion, a P/E ratio of 33.24, a price-to-earnings-growth 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 (NASDAQ:PRAH) last posted its quarterly earnings results on Wednesday, August 1st. The medical research company reported $1.00 earnings per share for the quarter, beating the Zacks’ 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 the consensus estimate of $706.57 million. During the same period in the previous year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, equities analysts predict that PRA Health Sciences will post 3.89 earnings per share for the current fiscal year.
In related news, major shareholder Pra Investors L.P. Kkr sold 6,500,000 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $101.01, for a total value of $656,565,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Carnegie Capital Asset Management LLC grew its position in 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. Mount Yale Investment Advisors LLC grew its position in PRA Health Sciences by 103.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,704 shares of the medical research company’s stock valued at $159,000 after acquiring an additional 867 shares during the period. Dynamic Technology Lab Private Ltd grew its position in PRA Health Sciences by 31.1% during the second quarter. Dynamic Technology Lab Private Ltd now owns 3,900 shares of the medical research company’s stock valued at $364,000 after acquiring an additional 925 shares during the period. Janney Montgomery Scott LLC grew its position in PRA Health Sciences by 18.1% during the second quarter. Janney Montgomery Scott LLC now owns 8,151 shares of the medical research company’s stock valued at $761,000 after acquiring an additional 1,250 shares during the period. Finally, Twin Tree Management LP purchased a new stake in PRA Health Sciences during the second quarter valued at about $120,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.
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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