PRA Health Sciences Inc. (PRAH) Sets New 1-Year High at $55.23
PRA Health Sciences Inc. (NASDAQ:PRAH) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $55.23 and last traded at $55.14, with a volume of 315,102 shares. The stock had previously closed at $54.75.
PRAH has been the topic of several analyst reports. Credit Suisse Group AG initiated coverage on PRA Health Sciences in a report on Monday, June 20th. They issued a “neutral” rating and a $43.00 price objective on the stock. Jefferies Group reiterated a “buy” rating on shares of PRA Health Sciences in a report on Tuesday, September 13th. KeyCorp upgraded PRA Health Sciences from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective on the stock in a report on Monday, June 13th. Zacks Investment Research downgraded PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Finally, First Analysis initiated coverage on PRA Health Sciences in a report on Monday, June 20th. They issued an “equal weight” rating and a $47.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.94.
The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 47.280 and a beta of 0.54. The firm’s 50 day moving average is $50.80 and its 200-day moving average is $46.31.
PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. PRA Health Sciences had a net margin of 4.53% and a return on equity of 20.47%. The business earned $394.20 million during the quarter, compared to the consensus estimate of $381.25 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The business’s revenue was up 16.0% on a year-over-year basis. Equities analysts anticipate that PRA Health Sciences Inc. will post $2.47 earnings per share for the current year.
In other PRA Health Sciences news, VP Linda Baddour sold 69,380 shares of the 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 of the company’s stock, valued at approximately $3,607,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David W. Dockhorn sold 107,257 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $49.00, for a total transaction of $5,255,593.00. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in shares of PRA Health Sciences by 93.3% in the second quarter. Acadian Asset Management LLC now owns 2,330,543 shares of the company’s stock worth $97,324,000 after buying an additional 1,125,077 shares during the last quarter. Columbia Wanger Asset Management LLC acquired a new position in shares of PRA Health Sciences during the second quarter worth approximately $46,366,000. Vanguard Group Inc. increased its position 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 last quarter. Emerald Acquisition Ltd. acquired a new position in shares of PRA Health Sciences during the second quarter worth approximately $23,257,000. Finally, Loomis Sayles & Co. L P increased its position 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 last quarter.
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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