Loomis Sayles & Co. L P decreased its stake in PRA Health Sciences Inc (NASDAQ:PRAH) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 388,458 shares of the medical research company’s stock after selling 4,333 shares during the period. Loomis Sayles & Co. L P owned 0.60% of PRA Health Sciences worth $42,804,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in PRAH. BlackRock Inc. lifted its holdings in shares of PRA Health Sciences by 27.2% in the 2nd quarter. BlackRock Inc. now owns 5,426,909 shares of the medical research company’s stock worth $506,656,000 after purchasing an additional 1,159,446 shares during the last quarter. FMR LLC raised its stake in PRA Health Sciences by 84.6% during the 2nd quarter. FMR LLC now owns 2,295,675 shares of the medical research company’s stock valued at $214,324,000 after acquiring an additional 1,051,810 shares in the last quarter. Swedbank bought a new stake in PRA Health Sciences during the 3rd quarter valued at $104,802,000. Frontier Capital Management Co. LLC bought a new stake in PRA Health Sciences during the 3rd quarter valued at $78,126,000. Finally, Bank of New York Mellon Corp raised its stake in PRA Health Sciences by 44.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,197,004 shares of the medical research company’s stock valued at $205,113,000 after acquiring an additional 673,202 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on PRAH shares. Mizuho set a $100.00 target price on PRA Health Sciences and gave the company a “hold” rating in a research note on Monday, August 6th. UBS Group started coverage on PRA Health Sciences in a research note on Tuesday, October 9th. They set a “neutral” rating on the stock. BidaskClub raised PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. SunTrust Banks lifted their target price on PRA Health Sciences to $120.00 and gave the company a “buy” rating in a research note on Monday, November 5th. Finally, Robert W. Baird lifted their target price on PRA Health Sciences from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $111.50.
PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings results on Wednesday, October 31st. The medical research company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.06. PRA Health Sciences had a return on equity of 25.75% and a net margin of 2.37%. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $729.63 million. During the same period last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, research analysts forecast that PRA Health Sciences Inc will post 3.93 EPS for the current fiscal year.
PRA Health Sciences Company Profile
PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development 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.
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