Federated Investors Inc. PA lessened its stake in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,191 shares of the medical research company’s stock after selling 1,178 shares during the quarter. Federated Investors Inc. PA owned about 0.05% of PRA Health Sciences worth $2,415,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of PRA Health Sciences by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 4,659,592 shares of the medical research company’s stock valued at $303,946,000 after acquiring an additional 170,812 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of PRA Health Sciences by 43,947.8% during the 1st quarter. BlackRock Inc. now owns 2,857,381 shares of the medical research company’s stock valued at $186,387,000 after acquiring an additional 2,850,894 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of PRA Health Sciences during the 1st quarter valued at about $82,935,000. Marshall Wace North America L.P. purchased a new stake in shares of PRA Health Sciences during the 1st quarter valued at about $82,935,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of PRA Health Sciences by 27.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 885,340 shares of the medical research company’s stock valued at $66,409,000 after acquiring an additional 191,109 shares during the last quarter. 98.38% of the stock is currently owned by hedge funds and other institutional investors.
In other PRA Health Sciences news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. Also, VP Linda Baddour sold 100,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $7,485,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,000,000 shares of company stock valued at $748,500,000. 2.10% of the stock is owned by corporate insiders.
PRA Health Sciences, Inc. (NASDAQ PRAH) opened at 73.78 on Friday. PRA Health Sciences, Inc. has a 12-month low of $50.87 and a 12-month high of $80.99. The company has a 50 day moving average of $75.69 and a 200-day moving average of $70.11. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 47.63 and a beta of 0.45.
PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data on Monday, August 7th. The medical research company reported $0.62 EPS 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 firm had revenue of $457.90 million during the quarter, compared to analyst estimates of $447.79 million. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts forecast that PRA Health Sciences, Inc. will post $3.19 earnings per share for the current year.
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PRAH has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of PRA Health Sciences from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Tuesday, August 15th. Citigroup Inc. reiterated a “buy” rating and issued a $90.00 price objective (up previously from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th. Credit Suisse Group raised their target price on shares of PRA Health Sciences from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Finally, Raymond James Financial, Inc. began coverage on shares of PRA Health Sciences in a research note on Wednesday, August 16th. They set an “outperform” rating and a $89.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $85.00.
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.
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