PRA Health Sciences (NASDAQ:PRAH) Upgraded by Wolfe Research to “Outperform”

PRA Health Sciences (NASDAQ:PRAH) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a note issued to investors on Thursday, FinViz reports.

PRAH has been the topic of a number of other reports. Barclays lifted their target price on PRA Health Sciences from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Goldman Sachs Group started coverage on PRA Health Sciences in a research note on Thursday, September 19th. They issued a “buy” rating and a $126.00 price objective on the stock. Zacks Investment Research cut PRA Health Sciences from a “buy” rating to a “hold” rating and set a $108.00 price objective on the stock. in a research note on Tuesday, November 5th. Jefferies Financial Group boosted their price objective on PRA Health Sciences from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, BidaskClub cut PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 27th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $114.88.

Shares of NASDAQ PRAH traded up $1.24 during mid-day trading on Thursday, reaching $103.49. 4,050 shares of the company’s stock were exchanged, compared to its average volume of 456,962. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. PRA Health Sciences has a 52 week low of $82.12 and a 52 week high of $121.98. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a 50-day moving average price of $98.75 and a two-hundred day moving average price of $97.05.

PRA Health Sciences (NASDAQ:PRAH) last released its earnings results on Wednesday, October 30th. The medical research company reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.03. The company had revenue of $780.70 million for the quarter, compared to analysts’ expectations of $771.64 million. PRA Health Sciences had a return on equity of 27.73% and a net margin of 8.00%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 EPS. As a group, sell-side analysts forecast that PRA Health Sciences will post 4.6 EPS for the current fiscal year.

In other 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 stock was sold at an average price of $97.41, for a total transaction of $649,401,688.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.95% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC purchased a new position in shares of PRA Health Sciences during the third quarter worth about $38,000. Pearl River Capital LLC purchased a new stake in PRA Health Sciences in the second quarter worth approximately $40,000. Cullen Frost Bankers Inc. boosted its stake in PRA Health Sciences by 232.5% in the third quarter. Cullen Frost Bankers Inc. now owns 409 shares of the medical research company’s stock worth $40,000 after buying an additional 286 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in PRA Health Sciences in the second quarter worth approximately $49,000. Finally, CENTRAL TRUST Co boosted its stake in PRA Health Sciences by 20.5% in the third quarter. CENTRAL TRUST Co now owns 792 shares of the medical research company’s stock worth $79,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 98.76% 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.

Recommended Story: Hedge Funds – How They Work For Investors

Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

Receive News & Ratings for PRA Health Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PRA Health Sciences and related companies with MarketBeat.com's FREE daily email newsletter.