South Street Advisors LLC Raises Stake in PRA Health Sciences, Inc. (PRAH)
South Street Advisors LLC grew its position in PRA Health Sciences, Inc. (NASDAQ:PRAH) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,345 shares of the medical research company’s stock after purchasing an additional 6,490 shares during the period. PRA Health Sciences makes up approximately 2.7% of South Street Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. South Street Advisors LLC owned 0.17% of PRA Health Sciences worth $8,126,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of PRAH. BlackRock Inc. lifted its holdings 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 purchasing an additional 2,850,894 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of PRA Health Sciences in the first quarter valued at about $82,935,000. Marshall Wace North America L.P. bought a new stake in shares of PRA Health Sciences in the first quarter valued at about $82,935,000. Harbour Capital Advisors LLC bought a new stake in shares of PRA Health Sciences in the second quarter valued at about $6,400,000. Finally, Renaissance Technologies LLC bought a new stake in shares of PRA Health Sciences in the first quarter valued at about $20,339,000. Institutional investors own 98.37% of the company’s stock.
A number of brokerages have recently commented on PRAH. SunTrust Banks, Inc. restated a “buy” rating on shares of PRA Health Sciences in a report on Wednesday, August 9th. Zacks Investment Research lowered PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Mizuho began coverage on PRA Health Sciences in a report on Thursday. They issued a “buy” rating and a $82.00 price target on the stock. Bank of America Corporation began coverage on 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, Raymond James Financial, Inc. began coverage on PRA Health Sciences in a report on Wednesday, August 16th. They set an “outperform” rating and a $89.00 target price on the stock. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $84.22.
In related news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $711,075,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Colin Shannon sold 400,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $29,940,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,000,000 shares of company stock worth $748,500,000. 2.10% of the stock is owned by insiders.
PRA Health Sciences, Inc. (NASDAQ:PRAH) traded down 0.78% during mid-day trading on Friday, reaching $75.09. The company had a trading volume of 360,645 shares. The stock has a 50 day moving average price of $75.71 and a 200 day moving average price of $70.59. The company has a market capitalization of $4.70 billion, a P/E ratio of 48.48 and a beta of 0.45. PRA Health Sciences, Inc. has a one year low of $50.87 and a one year high of $80.99.
PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.10). PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The business had revenue of $457.90 million during the quarter, compared to the consensus estimate of $447.79 million. During the same period in the previous year, the business posted $0.63 EPS. PRA Health Sciences’s revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that PRA Health Sciences, Inc. will post $3.19 earnings per share for the current fiscal year.
PRA Health Sciences Profile
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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