PRA Health Sciences, Inc. (NASDAQ:PRAH) Earns Buy Rating from KeyCorp

PRA Health Sciences, Inc. (NASDAQ:PRAH)‘s stock had its “buy” rating reiterated by KeyCorp in a research report issued to clients and investors on Monday, October 30th. They currently have a $93.00 price objective on the medical research company’s stock, up from their prior price objective of $86.00. KeyCorp’s price objective suggests a potential upside of 15.24% from the stock’s previous close.

PRAH has been the topic of a number of other reports. Jefferies Group LLC reiterated a “buy” rating and set a $95.00 price objective on shares of PRA Health Sciences in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Credit Suisse Group restated an “outperform” rating and issued a $90.00 price target (up from $84.00) on shares of PRA Health Sciences in a research note on Monday, October 16th. Robert W. Baird reiterated a “buy” rating and issued a $88.00 price objective on shares of PRA Health Sciences in a report on Monday, October 9th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $93.00 price objective (up previously from $90.00) on shares of PRA Health Sciences in a report on Thursday, August 10th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. PRA Health Sciences presently has a consensus rating of “Buy” and an average price target of $88.09.

PRA Health Sciences (NASDAQ PRAH) traded up $0.80 during trading hours on Monday, reaching $80.70. 383,938 shares of the company were exchanged, compared to its average volume of 505,183. PRA Health Sciences has a 1-year low of $51.16 and a 1-year high of $84.38. The company has a market capitalization of $5,110.00 and a price-to-earnings ratio of 28.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.38.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. The business had revenue of $494.55 million for the quarter, compared to analyst estimates of $477.89 million. PRA Health Sciences had a net margin of 5.64% and a return on equity of 21.66%. PRA Health Sciences’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. analysts anticipate that PRA Health Sciences will post 3.2 EPS for the current fiscal year.

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In other news, Director Matthew P. Young sold 5,115 shares of PRA Health Sciences stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.90, for a total value of $408,688.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of PRA Health Sciences by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 4,659,592 shares of the medical research company’s stock worth $303,946,000 after buying an additional 170,812 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of PRA Health Sciences by 28.2% in the 2nd quarter. BlackRock Inc. now owns 3,662,954 shares of the medical research company’s stock worth $274,759,000 after buying an additional 805,573 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of PRA Health Sciences by 318.3% in the 2nd quarter. Capital Research Global Investors now owns 2,175,340 shares of the medical research company’s stock worth $163,172,000 after buying an additional 1,655,336 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of PRA Health Sciences by 55.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,207,069 shares of the medical research company’s stock worth $91,943,000 after buying an additional 432,449 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of PRA Health Sciences by 3.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 915,111 shares of the medical research company’s stock worth $69,704,000 after buying an additional 29,771 shares during the last quarter. 97.60% 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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