PRA Health Sciences, Inc. (NASDAQ:PRAH)‘s stock had its “outperform” rating reaffirmed by stock analysts at Credit Suisse Group in a report released on Monday. They currently have a $90.00 target price on the medical research company’s stock, up from their previous target price of $84.00. Credit Suisse Group’s target price would indicate a potential upside of 9.42% from the stock’s previous close.

PRAH has been the topic of a number of other reports. Zacks Investment Research cut shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Robert W. Baird reaffirmed a “buy” rating and issued a $88.00 target price on shares of PRA Health Sciences in a report on Monday, October 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $92.00 target price (up from $88.00) on shares of PRA Health Sciences in a report on Thursday, August 10th. Citigroup Inc. reaffirmed a “buy” rating and issued a $93.00 target price (up from $90.00) on shares of PRA Health Sciences in a report on Thursday, August 10th. Finally, 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 target price on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $85.44.

PRA Health Sciences (NASDAQ:PRAH) opened at 82.25 on Monday. The firm’s 50-day moving average price is $77.14 and its 200 day moving average price is $72.89. PRA Health Sciences has a 12-month low of $50.87 and a 12-month high of $83.44. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 53.10 and a beta of 0.42.

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 the Zacks’ consensus estimate of $0.72 by ($0.10). The firm had revenue of $457.90 million during the quarter, compared to the consensus estimate of $447.79 million. PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. On average, equities research analysts expect that PRA Health Sciences will post $3.20 EPS for the current fiscal year.

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In other PRA Health Sciences news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Colin Shannon sold 400,000 shares of the 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. Over the last three months, insiders sold 10,000,000 shares of company stock worth $748,500,000. Insiders own 2.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PRA Health Sciences by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock valued at $112,000 after acquiring an additional 160 shares during the period. Meeder Asset Management Inc. raised its holdings in PRA Health Sciences by 144.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 906 shares during the period. Envestnet Asset Management Inc. raised its holdings in PRA Health Sciences by 232.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock valued at $121,000 after acquiring an additional 1,289 shares during the period. Ameritas Investment Partners Inc. bought a new position in PRA Health Sciences in the 1st quarter valued at about $136,000. Finally, CAPROCK Group Inc. bought a new position in PRA Health Sciences in the 2nd quarter valued at about $208,000. 98.37% of the stock is currently owned by hedge funds and other institutional investors.

PRA Health Sciences Company 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.

Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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