PRA Health Sciences, Inc. Forecasted to Post Q3 2018 Earnings of $1.05 Per Share (PRAH)

PRA Health Sciences, Inc. (NASDAQ:PRAH) – Research analysts at First Analysis issued their Q3 2018 EPS estimates for shares of PRA Health Sciences in a research report issued on Wednesday. First Analysis analyst S. Schwartz expects that the medical research company will earn $1.05 per share for the quarter.

PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.03. The business had revenue of $494.55 million during the quarter, compared to the consensus estimate of $477.89 million. PRA Health Sciences had a return on equity of 21.66% and a net margin of 5.64%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share.

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A number of other research analysts have also issued reports on PRAH. 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 objective for the company. SunTrust Banks, Inc. restated a “buy” rating on shares of PRA Health Sciences in a research report on Wednesday, August 9th. Robert W. Baird boosted their price objective on PRA Health Sciences from $82.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. BidaskClub lowered PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded PRA Health Sciences from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Wednesday, August 23rd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. PRA Health Sciences has an average rating of “Buy” and a consensus target price of $88.09.

Hedge funds have recently made changes to their positions in the business. Carroll Financial Associates Inc. boosted its position in PRA Health Sciences by 127.4% during the 3rd quarter. Carroll Financial Associates Inc. now owns 1,410 shares of the medical research company’s stock worth $112,000 after acquiring an additional 790 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PRA Health Sciences by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock worth $112,000 after acquiring an additional 160 shares during the period. Meeder Asset Management Inc. boosted 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 acquiring an additional 906 shares during the period. Envestnet Asset Management Inc. boosted 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 acquiring an additional 1,289 shares during the period. Finally, CAPROCK Group Inc. acquired a new position in PRA Health Sciences during the 2nd quarter worth $208,000. Institutional investors own 98.48% of the company’s stock.

In other PRA Health Sciences news, CEO Colin Shannon sold 400,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $74.85, for a total transaction of $29,940,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $74.85, for a total value 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 insiders.

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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