PRA Health Sciences, Inc. (NASDAQ:PRAH) Rating Reiterated by SunTrust Banks, Inc.
PRA Health Sciences, Inc. (NASDAQ:PRAH)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks, Inc. in a research note issued to investors on Wednesday.
Other equities analysts also recently issued reports about the company. Citigroup Inc. reissued a “buy” rating and set a $90.00 target price (up from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th. Jefferies Group LLC increased their target price on PRA Health Sciences from $72.00 to $72.50 and gave the stock a “buy” rating in a research note on Friday, April 28th. Credit Suisse Group increased their target price on PRA Health Sciences from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday. Robert W. Baird increased their target price on PRA Health Sciences from $82.00 to $83.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, BidaskClub downgraded PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $75.25.
Shares of PRA Health Sciences (NASDAQ:PRAH) opened at 79.14 on Wednesday. The firm has a 50-day moving average price of $75.01 and a 200-day moving average price of $66.37. The stock has a market capitalization of $4.94 billion, a PE ratio of 47.28 and a beta of 0.45. PRA Health Sciences has a 1-year low of $46.52 and a 1-year high of $80.99.
PRA Health Sciences (NASDAQ:PRAH) last issued its earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.10. The business had revenue of $457.90 million for the quarter, compared to analysts’ expectations of $447.79 million. PRA Health Sciences had a return on equity of 21.88% and a net margin of 5.15%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. On average, equities research analysts forecast that PRA Health Sciences will post $3.17 earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in PRA Health Sciences by 43,947.8% in the first quarter. BlackRock Inc. now owns 2,857,381 shares of the medical research company’s stock worth $186,387,000 after buying an additional 2,850,894 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in PRA Health Sciences during the first quarter worth $82,935,000. Marshall Wace North America L.P. purchased a new stake in PRA Health Sciences during the first quarter worth $82,935,000. Harbour Capital Advisors LLC purchased a new stake in PRA Health Sciences during the second quarter worth $6,400,000. Finally, Wells Fargo & Company MN boosted its stake in PRA Health Sciences by 321.6% in the first quarter. Wells Fargo & Company MN now owns 609,515 shares of the medical research company’s stock worth $39,760,000 after buying an additional 464,931 shares in the last quarter.
About PRA Health Sciences
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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