Macquarie Group Ltd. Acquires New Stake in PRA Health Sciences Inc (NASDAQ:PRAH)

Macquarie Group Ltd. purchased a new position in PRA Health Sciences Inc (NASDAQ:PRAH) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 3,900 shares of the medical research company’s stock, valued at approximately $387,000.

A number of other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. acquired a new stake in shares of PRA Health Sciences during the 2nd quarter valued at $2,327,000. Atria Investments LLC increased its holdings in shares of PRA Health Sciences by 4,173.1% during the 2nd quarter. Atria Investments LLC now owns 417,820 shares of the medical research company’s stock worth $4,617,000 after purchasing an additional 408,042 shares during the period. Glen Harbor Capital Management LLC increased its holdings in shares of PRA Health Sciences by 1.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,508 shares of the medical research company’s stock worth $1,141,000 after purchasing an additional 112 shares during the period. SG Americas Securities LLC increased its holdings in shares of PRA Health Sciences by 155.1% during the 2nd quarter. SG Americas Securities LLC now owns 45,836 shares of the medical research company’s stock worth $4,545,000 after purchasing an additional 27,869 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its holdings in shares of PRA Health Sciences by 1.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,900 shares of the medical research company’s stock worth $1,081,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 98.74% of the company’s stock.

Several research analysts have recently issued reports on PRAH shares. Svb Leerink restated a “market perform” rating on shares of PRA Health Sciences in a report on Tuesday, July 2nd. Goldman Sachs Group started coverage on shares of PRA Health Sciences in a report on Thursday, September 19th. They set a “buy” rating and a $126.00 price objective on the stock. Jefferies Financial Group boosted their price objective 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. Barclays boosted their price objective 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. Finally, Leerink Swann initiated coverage on shares of PRA Health Sciences in a research note on Tuesday, July 2nd. They issued a “market perform” rating and a $105.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $115.86.

In related news, major shareholder Fund Holdings L.P. Kkr sold 6,666,684 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.95% of the company’s stock.

NASDAQ PRAH opened at $97.17 on Wednesday. The stock has a market cap of $6.40 billion, a P/E ratio of 24.73, a PEG ratio of 1.30 and a beta of 1.12. The company’s 50-day simple moving average is $100.23 and its 200 day simple moving average is $97.59. PRA Health Sciences Inc has a twelve month low of $82.12 and a twelve month high of $121.98. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.11.

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, beating the Zacks’ consensus estimate of $1.11 by $0.11. The business had revenue of $763.31 million for the quarter, compared to analysts’ expectations of $764.95 million. PRA Health Sciences had a net margin of 5.39% and a return on equity of 26.64%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Research analysts anticipate that PRA Health Sciences Inc will post 4.65 earnings per share for the current year.

PRA Health Sciences Company Profile

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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