Brokerages Anticipate PRA Health Sciences Inc (PRAH) Will Announce Quarterly Sales of $543.65 Million

Brokerages expect that PRA Health Sciences Inc (NASDAQ:PRAH) will report sales of $543.65 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for PRA Health Sciences’ earnings, with the highest sales estimate coming in at $546.43 million and the lowest estimate coming in at $540.60 million. PRA Health Sciences reported sales of $413.61 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.4%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, February 21st.

On average, analysts expect that PRA Health Sciences will report full year sales of $543.65 million for the current fiscal year, with estimates ranging from $1.92 billion to $1.93 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.34 billion per share, with estimates ranging from $2.29 billion to $2.37 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover PRA Health Sciences.

Several equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. BidaskClub lowered shares of PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. SunTrust Banks restated a “buy” rating and issued a $101.00 price objective on shares of PRA Health Sciences in a report on Friday, October 27th. Credit Suisse Group upped their price objective on shares of PRA Health Sciences from $90.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Finally, Barclays assumed coverage on shares of PRA Health Sciences in a report on Monday, December 11th. They issued an “overweight” rating and a $94.00 price objective on the stock. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $92.31.

In related news, EVP David W. Dockhorn sold 72,850 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $90.83, for a total transaction of $6,616,965.50. Following the sale, the executive vice president now directly owns 72,850 shares of the company’s stock, valued at approximately $6,616,965.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew P. Young sold 5,115 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $79.90, for a total transaction of $408,688.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 217,815 shares of company stock worth $19,690,710. 2.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American International Group Inc. increased its stake in PRA Health Sciences by 2.1% during the 4th quarter. American International Group Inc. now owns 33,402 shares of the medical research company’s stock worth $3,042,000 after buying an additional 683 shares during the period. The Manufacturers Life Insurance Company increased its stake in PRA Health Sciences by 1.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 37,921 shares of the medical research company’s stock worth $3,454,000 after buying an additional 713 shares during the period. First Bank & Trust increased its stake in PRA Health Sciences by 30.0% during the 4th quarter. First Bank & Trust now owns 3,259 shares of the medical research company’s stock worth $297,000 after buying an additional 752 shares during the period. Carroll Financial Associates Inc. increased its stake 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 buying an additional 790 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in PRA Health Sciences by 23.5% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 4,204 shares of the medical research company’s stock worth $325,000 after buying an additional 800 shares during the period. 97.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PRA Health Sciences (PRAH) traded up $1.48 during mid-day trading on Monday, hitting $85.43. 470,613 shares of the stock traded hands, compared to its average volume of 416,752. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.01 and a current ratio of 1.01. PRA Health Sciences has a 52-week low of $57.72 and a 52-week high of $95.90. The firm has a market cap of $5,510.00, a price-to-earnings ratio of 47.99, a P/E/G ratio of 1.14 and a beta of 0.31.

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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.

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