Meritage Portfolio Management reduced its stake in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 68,782 shares of the medical research company’s stock after selling 618 shares during the period. Meritage Portfolio Management’s holdings in PRA Health Sciences were worth $5,159,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of PRAH. BlackRock Inc. boosted its stake in shares of PRA Health Sciences by 43,947.8% in the first quarter. BlackRock Inc. now owns 2,857,381 shares of the medical research company’s stock valued at $186,387,000 after buying an additional 2,850,894 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of PRA Health Sciences during the first quarter valued at $82,935,000. Marshall Wace North America L.P. bought a new stake in shares of PRA Health Sciences during the first quarter valued at $82,935,000. Wells Fargo & Company MN boosted its stake in shares of PRA Health Sciences by 321.6% in the first quarter. Wells Fargo & Company MN now owns 609,515 shares of the medical research company’s stock valued at $39,760,000 after buying an additional 464,931 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of PRA Health Sciences by 202.9% in the first quarter. Ameriprise Financial Inc. now owns 641,379 shares of the medical research company’s stock valued at $41,835,000 after buying an additional 429,621 shares during the last quarter.
Shares of PRA Health Sciences, Inc. (PRAH) traded up 1.76% during midday trading on Friday, hitting $75.16. The company had a trading volume of 452,687 shares. The company has a market capitalization of $4.70 billion, a P/E ratio of 44.90 and a beta of 0.48. PRA Health Sciences, Inc. has a 52 week low of $45.80 and a 52 week high of $79.98. The firm’s 50 day moving average is $74.87 and its 200 day moving average is $66.00.
PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings results on Tuesday, April 25th. The medical research company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. PRA Health Sciences had a return on equity of 21.87% and a net margin of 5.85%. The company had revenue of $427.08 million for the quarter, compared to the consensus estimate of $426.81 million. During the same quarter in the previous year, the business earned $0.55 EPS. PRA Health Sciences’s revenue was up 14.7% compared to the same quarter last year. Equities research analysts anticipate that PRA Health Sciences, Inc. will post $3.15 EPS for the current year.
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PRAH has been the subject of several recent research reports. Citigroup Inc. reissued a “buy” rating and issued a $90.00 price target (up previously from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th. Jefferies Group LLC increased their price target on PRA Health Sciences from $72.00 to $72.50 and gave the company a “buy” rating in a research note on Friday, April 28th. Credit Suisse Group reissued an “outperform” rating and issued a $76.00 price target (up previously from $69.00) on shares of PRA Health Sciences in a research note on Tuesday, June 6th. Finally, Bank of America Corporation initiated coverage on PRA Health Sciences in a research note on Monday, June 26th. They issued a “buy” rating and a $89.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. PRA Health Sciences presently has a consensus rating of “Buy” and a consensus target price of $73.00.
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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