Profit Investment Management LLC Boosts Stake in PAREXEL International Corporation (PRXL)
Profit Investment Management LLC increased its stake in PAREXEL International Corporation (NASDAQ:PRXL) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,437 shares of the medical research company’s stock after buying an additional 1,813 shares during the period. PAREXEL International Corporation comprises approximately 2.2% of Profit Investment Management LLC’s portfolio, making the stock its 6th largest position. Profit Investment Management LLC owned 0.06% of PAREXEL International Corporation worth $2,471,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in PAREXEL International Corporation by 22,876.6% in the first quarter. BlackRock Inc. now owns 5,513,456 shares of the medical research company’s stock valued at $347,955,000 after buying an additional 5,489,460 shares in the last quarter. Credit Suisse AG increased its stake in PAREXEL International Corporation by 1,897.2% in the first quarter. Credit Suisse AG now owns 2,093,297 shares of the medical research company’s stock valued at $132,108,000 after buying an additional 1,988,488 shares in the last quarter. Nomura Holdings Inc. increased its stake in PAREXEL International Corporation by 189.6% in the first quarter. Nomura Holdings Inc. now owns 1,381,087 shares of the medical research company’s stock valued at $87,088,000 after buying an additional 904,236 shares in the last quarter. Norges Bank bought a new stake in PAREXEL International Corporation during the fourth quarter valued at $36,989,000. Finally, Assenagon Asset Management S.A. increased its stake in PAREXEL International Corporation by 602.1% in the first quarter. Assenagon Asset Management S.A. now owns 645,360 shares of the medical research company’s stock valued at $40,729,000 after buying an additional 553,444 shares in the last quarter. 96.93% of the stock is currently owned by institutional investors.
PAREXEL International Corporation (PRXL) traded up 0.03% during trading on Wednesday, reaching $87.38. 181,566 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $85.04 and a 200 day moving average price of $71.73. PAREXEL International Corporation has a 52 week low of $51.16 and a 52 week high of $87.86. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 38.41 and a beta of 0.79.
PAREXEL International Corporation (NASDAQ:PRXL) last released its earnings results on Wednesday, May 3rd. The medical research company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $529.30 million during the quarter, compared to the consensus estimate of $529.38 million. PAREXEL International Corporation had a return on equity of 28.68% and a net margin of 5.12%. PAREXEL International Corporation’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. Equities research analysts forecast that PAREXEL International Corporation will post $3.28 earnings per share for the current fiscal year.
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Several brokerages have commented on PRXL. Zacks Investment Research cut shares of PAREXEL International Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, May 6th. Evercore ISI upgraded shares of PAREXEL International Corporation from an “in-line” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) upgraded shares of PAREXEL International Corporation from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $77.00 in a research note on Tuesday, May 23rd. Barclays PLC restated an “overweight” rating and set a $87.00 price objective on shares of PAREXEL International Corporation in a research note on Wednesday, May 17th. Finally, Mizuho began coverage on shares of PAREXEL International Corporation in a research note on Thursday, March 23rd. They set a “neutral” rating and a $86.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.70.
About PAREXEL International Corporation
PAREXEL International Corporation (PAREXEL) is a biopharmaceutical outsourcing services company. The Company provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and technology products and services to pharmaceutical, biotechnology and medical device industries.
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