Salem Investment Counselors Inc. Takes Position in PRA Health Sciences Inc (PRAH)
Salem Investment Counselors Inc. bought a new position in PRA Health Sciences Inc (NASDAQ:PRAH) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 4,150 shares of the medical research company’s stock, valued at approximately $315,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Carroll Financial Associates Inc. increased its stake in shares of PRA Health Sciences by 127.4% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,410 shares of the medical research company’s stock worth $112,000 after acquiring an additional 790 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 worth $112,000 after acquiring an additional 160 shares during the last quarter. Comerica Bank acquired a new stake in shares of PRA Health Sciences in the 3rd quarter worth $214,000. Trustmark National Bank Trust Department acquired a new stake in shares of PRA Health Sciences in the 2nd quarter worth $225,000. Finally, Aperio Group LLC acquired a new stake in shares of PRA Health Sciences in the 2nd quarter worth $233,000. 98.49% of the stock is owned by institutional investors and hedge funds.
In related news, Director Matthew P. Young sold 5,115 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $79.90, for a total transaction of $408,688.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.
A number of brokerages have issued reports on PRAH. BidaskClub raised PRA Health Sciences from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays assumed coverage on PRA Health Sciences in a research note on Monday. They issued an “overweight” rating and a $94.00 target price for the company. Zacks Investment Research raised PRA Health Sciences from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Wednesday, August 23rd. SunTrust Banks reissued a “buy” rating and set a $101.00 price objective on shares of PRA Health Sciences in a research report on Friday, October 27th. Finally, Credit Suisse Group raised their price objective on PRA Health Sciences from $90.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $89.50.
Shares of PRA Health Sciences Inc (NASDAQ PRAH) opened at $89.13 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $5,527.74, a PE ratio of 32.07, a P/E/G ratio of 1.51 and a beta of 0.40. PRA Health Sciences Inc has a 52-week low of $53.47 and a 52-week high of $89.81.
PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. The firm had revenue of $494.55 million during the quarter, compared to the consensus estimate of $477.89 million. PRA Health Sciences had a return on equity of 21.66% and a net margin of 5.64%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. analysts predict that PRA Health Sciences Inc will post 3.2 earnings per share for the current fiscal year.
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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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