PRA Health Sciences (NASDAQ:PRAH) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of PRA Health Sciences (NASDAQ:PRAH) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday, BidAskClub reports.

A number of other research firms have also weighed in on PRAH. Barclays increased their target price on shares of PRA Health Sciences from $115.00 to $118.00 and gave the stock an overweight rating in a report on Wednesday, September 4th. Leerink Swann initiated coverage on shares of PRA Health Sciences in a report on Tuesday, July 2nd. They set a market perform rating and a $105.00 target price for the company. Jefferies Financial Group increased their target price on shares of PRA Health Sciences from $115.00 to $120.00 and gave the stock a buy rating in a report on Friday, September 6th. Finally, Svb Leerink reiterated a market perform rating on shares of PRA Health Sciences in a report on Tuesday, July 2nd. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $116.38.

PRA Health Sciences stock opened at $106.65 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average of $98.95 and a 200-day moving average of $98.34. The firm has a market cap of $6.90 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.41 and a beta of 1.13. PRA Health Sciences has a 1-year low of $82.12 and a 1-year high of $121.98.



PRA Health Sciences (NASDAQ:PRAH) last posted its earnings results on Wednesday, July 31st. The medical research company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.11. The company had revenue of $763.31 million during the quarter, compared to analyst estimates of $764.95 million. PRA Health Sciences had a net margin of 5.39% and a return on equity of 26.64%. PRA Health Sciences’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 earnings per share. Research analysts forecast that PRA Health Sciences will post 4.65 earnings per share for the current fiscal year.

In other PRA Health Sciences 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 value of $649,401,688.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.95% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of PRA Health Sciences by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 447,357 shares of the medical research company’s stock valued at $41,134,000 after purchasing an additional 6,803 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of PRA Health Sciences by 16.9% during the fourth quarter. Geode Capital Management LLC now owns 641,658 shares of the medical research company’s stock valued at $59,006,000 after purchasing an additional 92,838 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of PRA Health Sciences by 19.0% during the first quarter. Bank of Montreal Can now owns 6,459 shares of the medical research company’s stock valued at $711,000 after purchasing an additional 1,032 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of PRA Health Sciences during the first quarter valued at approximately $2,539,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of PRA Health Sciences during the first quarter valued at approximately $1,718,000. Institutional investors and hedge funds own 98.67% of the company’s stock.

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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Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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