Smith Asset Management Group LP raised its stake in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,115 shares of the medical research company’s stock after buying an additional 320 shares during the period. Smith Asset Management Group LP’s holdings in PRA Health Sciences were worth $4,584,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of 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 valued at $186,387,000 after buying an additional 2,850,894 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in shares of PRA Health Sciences during the first quarter valued at about $82,935,000. Marshall Wace North America L.P. acquired a new stake in shares of PRA Health Sciences during the first quarter valued at about $82,935,000. Harbour Capital Advisors LLC acquired a new stake in shares of PRA Health Sciences during the second quarter valued at about $6,400,000. Finally, Wells Fargo & Company MN increased its stake in shares of 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 valued at $39,760,000 after buying an additional 464,931 shares during the period.

PRA Health Sciences, Inc. (PRAH) opened at 74.20 on Friday. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 47.90 and a beta of 0.45. PRA Health Sciences, Inc. has a 52-week low of $48.42 and a 52-week high of $80.99. The stock has a 50 day moving average of $75.18 and a 200-day moving average of $67.24.

PRA Health Sciences (NASDAQ:PRAH) last announced its earnings results on Monday, August 7th. The medical research company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.72 by $0.10. PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. The firm had revenue of $457.90 million during the quarter, compared to analyst estimates of $447.79 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts expect that PRA Health Sciences, Inc. will post $3.18 EPS for the current year.

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PRAH has been the topic of several recent research reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $90.00 price target (up previously from $73.00) on shares of PRA Health Sciences in a report on Wednesday, June 28th. Jefferies Group LLC upped their price target on shares of PRA Health Sciences from $72.00 to $72.50 and gave the company a “buy” rating in a report on Friday, April 28th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $76.00 price target (up previously from $69.00) on shares of PRA Health Sciences in a report on Tuesday, June 6th. Bank of America Corporation initiated coverage on shares of PRA Health Sciences in a report on Monday, June 26th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, BidaskClub downgraded shares of PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.00.

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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Institutional Ownership by Quarter for PRA Health Sciences (NASDAQ:PRAH)

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