PRA Health Sciences, Inc. (PRAH) Shares Sold by Castleark Management LLC

Castleark Management LLC lessened its holdings in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 241,316 shares of the medical research company’s stock after selling 8,679 shares during the period. Castleark Management LLC owned 0.39% of PRA Health Sciences worth $18,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of PRA Health Sciences by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 4,659,592 shares of the medical research company’s stock worth $303,946,000 after acquiring an additional 170,812 shares in the last quarter. BlackRock Inc. raised its position in shares of PRA Health Sciences by 28.2% during the 2nd quarter. BlackRock Inc. now owns 3,662,954 shares of the medical research company’s stock worth $274,759,000 after acquiring an additional 805,573 shares in the last quarter. Capital Research Global Investors raised its position in shares of PRA Health Sciences by 318.3% during 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 acquiring an additional 1,655,336 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of PRA Health Sciences by 27.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 885,340 shares of the medical research company’s stock worth $66,409,000 after acquiring an additional 191,109 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of PRA Health Sciences by 23.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 788,807 shares of the medical research company’s stock worth $59,166,000 after acquiring an additional 147,428 shares in the last quarter. 98.37% of the stock is currently owned by institutional investors and hedge funds.

In other news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $74.85, for a total transaction of $711,075,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Colin Shannon sold 400,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $74.85, for a total value of $29,940,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,000,000 shares of company stock worth $748,500,000 over the last quarter. Insiders own 2.10% of the company’s stock.

PRA Health Sciences, Inc. (PRAH) traded up 0.49% on Wednesday, reaching $81.49. The company’s stock had a trading volume of 120,622 shares. PRA Health Sciences, Inc. has a 52 week low of $50.87 and a 52 week high of $82.00. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 52.57 and a beta of 0.42. The firm’s 50 day moving average price is $76.65 and its 200-day moving average price is $72.51.

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 (EPS) for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $447.79 million. During the same quarter in the previous year, the company earned $0.63 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that PRA Health Sciences, Inc. will post $3.19 EPS for the current year.

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Several research analysts have commented on the company. Raymond James Financial, Inc. assumed coverage on PRA Health Sciences in a research report on Wednesday, August 16th. They set an “outperform” rating and a $89.00 price target on the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $90.00 price target (up previously from $73.00) on shares of PRA Health Sciences in a research report on Wednesday, June 28th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of PRA Health Sciences in a research report on Wednesday, August 9th. Robert W. Baird lifted their price target on PRA Health Sciences from $82.00 to $83.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. Finally, BidaskClub lowered PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $84.78.

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.

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Institutional Ownership by Quarter for PRA Health Sciences (NASDAQ:PRAH)

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