Alpine Associates Management Inc. purchased a new stake in PAREXEL International Corporation (NASDAQ:PRXL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,308,435 shares of the medical research company’s stock, valued at approximately $113,716,000. PAREXEL International Corporation makes up 2.3% of Alpine Associates Management Inc.’s holdings, making the stock its 14th biggest position. Alpine Associates Management Inc. owned 2.58% of PAREXEL International Corporation at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PRXL. BlackRock Inc. increased its position in shares of 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 position in shares of 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 position in shares of 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. JPMorgan Chase & Co. increased its position in shares of PAREXEL International Corporation by 1,008.1% in the second quarter. JPMorgan Chase & Co. now owns 982,186 shares of the medical research company’s stock valued at $85,362,000 after buying an additional 893,551 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of PAREXEL International Corporation by 149.3% in the first quarter. Bank of America Corp DE now owns 630,020 shares of the medical research company’s stock valued at $39,760,000 after buying an additional 377,287 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.

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PRXL has been the subject of a number of research analyst reports. Zacks Investment Research cut PAREXEL International Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Credit Suisse Group restated a “neutral” rating and issued a $83.00 price target (up previously from $65.00) on shares of PAREXEL International Corporation in a research report on Tuesday, June 6th. Mizuho raised their price target on PAREXEL International Corporation from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, May 30th. BidaskClub cut PAREXEL International Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Goldman Sachs Group, Inc. (The) upgraded PAREXEL International Corporation from a “sell” rating to a “neutral” rating and raised their price target for the company from $63.00 to $77.00 in a research report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. PAREXEL International Corporation currently has an average rating of “Hold” and a consensus price target of $75.92.

PAREXEL International Corporation (NASDAQ:PRXL) traded up 0.02% during mid-day trading on Wednesday, hitting $87.97. The company had a trading volume of 653,261 shares. The company’s 50 day moving average price is $87.66 and its 200-day moving average price is $77.16. The company has a market cap of $4.50 billion, a PE ratio of 42.70 and a beta of 0.79. PAREXEL International Corporation has a one year low of $51.16 and a one year high of $87.97.

PAREXEL International Corporation (NASDAQ:PRXL) last announced its earnings results on Monday, August 28th. The medical research company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.08. The company had revenue of $557.20 million for the quarter, compared to analyst estimates of $537.59 million. PAREXEL International Corporation had a return on equity of 28.98% and a net margin of 4.49%. During the same period in the previous year, the firm earned $0.94 earnings per share. Equities research analysts anticipate that PAREXEL International Corporation will post $3.95 EPS for the current fiscal year.

PAREXEL International Corporation Company Profile

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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Institutional Ownership by Quarter for PAREXEL International Corporation (NASDAQ:PRXL)

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