Convergence Investment Partners LLC acquired a new stake in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,843 shares of the medical research company’s stock, valued at approximately $2,314,000.
A number of other institutional investors have also recently made changes to their positions in PRAH. First Bank & Trust raised its position in shares of PRA Health Sciences by 1.6% in the second quarter. First Bank & Trust now owns 3,211 shares of the medical research company’s stock valued at $241,000 after buying an additional 52 shares during the period. State Board of Administration of Florida Retirement System raised its position in PRA Health Sciences by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,892 shares of the medical research company’s stock worth $1,428,000 after buying an additional 140 shares during the last quarter. Forward Management LLC raised its position in PRA Health Sciences by 5.0% in the first quarter. Forward Management LLC now owns 4,762 shares of the medical research company’s stock worth $310,000 after buying an additional 226 shares during the last quarter. 1st Global Advisors Inc. raised its position in PRA Health Sciences by 2.2% in the first quarter. 1st Global Advisors Inc. now owns 11,265 shares of the medical research company’s stock worth $735,000 after buying an additional 238 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its position in PRA Health Sciences by 6.5% in the second quarter. Eqis Capital Management Inc. now owns 4,217 shares of the medical research company’s stock worth $316,000 after buying an additional 259 shares during the last quarter. 96.76% of the stock is owned by institutional investors and hedge funds.
Shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) opened at 74.20 on Monday. The stock has a market cap of $4.65 billion, a P/E ratio of 47.90 and a beta of 0.45. The company has a 50 day moving average price of $75.18 and a 200-day moving average price of $67.24. PRA Health Sciences, Inc. has a 12 month low of $48.42 and a 12 month high of $80.99.
PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings data on Monday, August 7th. The medical research company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $457.90 million for the quarter, compared to the consensus estimate of $447.79 million. During the same period in the previous year, the firm earned $0.63 EPS. The company’s revenue was up .5% on a year-over-year basis. On average, equities research analysts predict that PRA Health Sciences, Inc. will post $3.18 earnings per share for the current year.
PRAH has been the subject of a number of analyst reports. Zacks Investment Research lowered PRA Health Sciences from a “hold” rating to a “sell” rating in a report on Friday. Citigroup Inc. reaffirmed a “buy” rating and issued a $90.00 price target (up from $73.00) on shares of PRA Health Sciences in a report on Wednesday, June 28th. Jefferies Group LLC raised their price target on PRA Health Sciences from $72.00 to $72.50 and gave the stock a “buy” rating in a report on Friday, April 28th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $76.00 price target (up from $69.00) on shares of PRA Health Sciences in a report on Tuesday, June 6th. Finally, Bank of America Corporation initiated coverage on PRA Health Sciences in a report on Monday, June 26th. They issued a “buy” rating and a $89.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $78.00.
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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