Brokers Issue Forecasts for PRA Health Sciences, Inc.’s Q3 2017 Earnings (PRAH)

PRA Health Sciences, Inc. (NASDAQ:PRAH) – Research analysts at Jefferies Group reduced their Q3 2017 earnings estimates for shares of PRA Health Sciences in a research note issued to investors on Monday. Jefferies Group analyst D. Windley now expects that the medical research company will earn $0.82 per share for the quarter, down from their previous forecast of $0.83. Jefferies Group has a “Buy” rating and a $92.00 price target on the stock. Jefferies Group also issued estimates for PRA Health Sciences’ FY2017 earnings at $3.09 EPS.

A number of other equities analysts also recently commented on the stock. Robert W. Baird reissued a “buy” rating and issued a $88.00 price target on shares of PRA Health Sciences in a research note on Monday. Mizuho started coverage on shares of PRA Health Sciences in a research note on Thursday, September 21st. They issued a “buy” rating and a $82.00 price target on the stock. Zacks Investment Research raised shares of PRA Health Sciences from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Tuesday, September 19th. Finally, Raymond James Financial, Inc. started coverage on shares of PRA Health Sciences in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $89.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $84.78.

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Shares of PRA Health Sciences (NASDAQ PRAH) opened at 81.09 on Tuesday. The company has a 50 day moving average price of $76.65 and a 200-day moving average price of $72.51. The stock has a market cap of $5.08 billion, a P/E ratio of 52.35 and a beta of 0.42. PRA Health Sciences has a 12 month low of $50.87 and a 12 month high of $82.00.

PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings data on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $447.79 million. During the same period last year, the company posted $0.63 earnings per share. PRA Health Sciences’s revenue for the quarter was up .5% on a year-over-year basis.

In other news, CEO Colin Shannon sold 400,000 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 $29,940,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 shares were sold at an average price of $74.85, for a total transaction of $711,075,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,000,000 shares of company stock valued at $748,500,000 in the last quarter. 2.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PRAH. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PRA Health Sciences by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock valued at $112,000 after purchasing an additional 160 shares during the last quarter. Meeder Asset Management Inc. raised its position in PRA Health Sciences by 144.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock worth $115,000 after buying an additional 906 shares during the last quarter. Envestnet Asset Management Inc. raised its position in PRA Health Sciences by 232.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock worth $121,000 after buying an additional 1,289 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in PRA Health Sciences during the 1st quarter worth $136,000. Finally, Teacher Retirement System of Texas purchased a new position in PRA Health Sciences during the 1st quarter worth $208,000. Hedge funds and other institutional investors own 98.37% of the company’s stock.

About PRA Health Sciences

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.

Earnings History and Estimates for PRA Health Sciences (NASDAQ:PRAH)

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