Comerica Bank Grows Position in PRA Health Sciences Inc (NASDAQ:PRAH)

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Comerica Bank increased its position in shares of PRA Health Sciences Inc (NASDAQ:PRAH) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,027 shares of the medical research company’s stock after purchasing an additional 2,066 shares during the period. Comerica Bank owned approximately 0.05% of PRA Health Sciences worth $3,513,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PRAH. California Public Employees Retirement System raised its stake in shares of PRA Health Sciences by 35.0% during the 3rd quarter. California Public Employees Retirement System now owns 151,093 shares of the medical research company’s stock worth $14,993,000 after acquiring an additional 39,207 shares in the last quarter. State of Tennessee Treasury Department increased its stake in PRA Health Sciences by 4.4% during the 3rd quarter. State of Tennessee Treasury Department now owns 80,343 shares of the medical research company’s stock valued at $7,972,000 after purchasing an additional 3,370 shares in the last quarter. Retirement Systems of Alabama increased its stake in PRA Health Sciences by 14.9% during the 3rd quarter. Retirement Systems of Alabama now owns 177,628 shares of the medical research company’s stock valued at $17,626,000 after purchasing an additional 23,061 shares in the last quarter. BB&T Securities LLC increased its stake in PRA Health Sciences by 7.3% during the 3rd quarter. BB&T Securities LLC now owns 6,638 shares of the medical research company’s stock valued at $660,000 after purchasing an additional 453 shares in the last quarter. Finally, Executive Wealth Management LLC increased its stake in PRA Health Sciences by 1.3% during the 3rd quarter. Executive Wealth Management LLC now owns 11,169 shares of the medical research company’s stock valued at $1,108,000 after purchasing an additional 139 shares in the last quarter. 98.64% of the stock is owned by hedge funds and other institutional investors.

In related news, major shareholder Fund Holdings L.P. Kkr sold 6,666,684 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $97.41, for a total transaction of $649,401,688.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by company insiders.

PRAH has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of PRA Health Sciences from a “buy” rating to a “hold” rating and set a $108.00 price target on the stock. in a research note on Tuesday, November 5th. Barclays upped their price target on shares of PRA Health Sciences from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. BidaskClub lowered shares of PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 27th. Goldman Sachs Group initiated coverage on shares of PRA Health Sciences in a research note on Thursday, September 19th. They set a “buy” rating and a $126.00 price target on the stock. Finally, Jefferies Financial Group upped their price target on shares of PRA Health Sciences from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $114.88.

NASDAQ:PRAH opened at $100.17 on Friday. PRA Health Sciences Inc has a 1-year low of $82.12 and a 1-year high of $121.98. The firm has a market capitalization of $6.36 billion, a P/E ratio of 25.49, a PEG ratio of 1.37 and a beta of 1.11. The company’s fifty day moving average price is $99.17 and its 200-day moving average price is $96.93. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.10 and a quick ratio of 1.10.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.03. PRA Health Sciences had a net margin of 8.00% and a return on equity of 27.73%. The firm had revenue of $780.70 million during the quarter, compared to analysts’ expectations of $771.64 million. During the same period last year, the business earned $1.13 earnings per share. PRA Health Sciences’s revenue was up 8.8% compared to the same quarter last year. Equities analysts anticipate that PRA Health Sciences Inc will post 4.59 EPS for the current fiscal year.

About PRA Health Sciences

PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries worldwide. The company operates in two segments, Clinical Research and Data Solutions. The Clinical Research segment offers product registration services, including clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services.

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

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