PRA Health Sciences Inc. (PRAH) Shares Up 1.9%
PRA Health Sciences Inc. (NASDAQ:PRAH) shares shot up 1.9% during trading on Friday . The company traded as high as $51.42 and last traded at $51.40, with a volume of 361,309 shares. The stock had previously closed at $50.44.
A number of brokerages have commented on PRAH. Zacks Investment Research cut shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Jefferies Group restated a “buy” rating and set a $57.00 price target on shares of PRA Health Sciences in a research note on Friday, July 29th. First Analysis initiated coverage on shares of PRA Health Sciences in a research note on Monday, June 20th. They set an “equal weight” rating and a $47.00 price target for the company. Credit Suisse Group AG initiated coverage on shares of PRA Health Sciences in a report on Monday, June 20th. They set a “neutral” rating and a $43.00 price objective for the company. Finally, KeyCorp raised shares of PRA Health Sciences from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.94.
The firm’s 50 day moving average price is $47.28 and its 200 day moving average price is $45.02. The company has a market capitalization of $3.13 billion and a price-to-earnings ratio of 44.01.
PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. The company earned $394.20 million during the quarter, compared to analyst estimates of $381.25 million. During the same quarter last year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts expect that PRA Health Sciences Inc. will post $2.46 EPS for the current year.
In related news, VP David W. Dockhorn sold 107,257 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $49.00, for a total value of $5,255,593.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Linda Baddour sold 69,380 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $52.00, for a total transaction of $3,607,760.00. Following the completion of the transaction, the vice president now owns 69,380 shares in the company, valued at approximately $3,607,760. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in PRA Health Sciences stock. Bank of Montreal Can increased its position in shares of PRA Health Sciences Inc. (NASDAQ:PRAH) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,826 shares of the company’s stock after buying an additional 25,738 shares during the period. Bank of Montreal Can owned approximately 0.38% of PRA Health Sciences worth $10,495,000 at the end of the most recent quarter.
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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