PRA Health Sciences Inc. (NASDAQ:PRAH) – Equities research analysts at William Blair increased their FY2016 earnings per share estimates for shares of PRA Health Sciences in a research report issued to clients and investors on Monday. William Blair analyst J. Kreger now forecasts that the firm will earn $2.39 per share for the year, up from their prior estimate of $2.38.
PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.64. PRA Health Sciences had a net margin of 4.86% and a return on equity of 21.25%. The business earned $399.80 million during the quarter, compared to the consensus estimate of $394.87 million. During the same period in the prior year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on PRAH. Jefferies Group reissued a “buy” rating and issued a $57.00 price target on shares of PRA Health Sciences in a report on Friday, July 29th. Zacks Investment Research raised shares of PRA Health Sciences from a “hold” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a report on Wednesday, August 3rd. Citigroup Inc. raised their price target on shares of PRA Health Sciences from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 22nd. Credit Suisse Group AG reissued a “hold” rating and issued a $50.00 price target on shares of PRA Health Sciences in a report on Thursday, November 3rd. Finally, KeyCorp reissued a “buy” rating on shares of PRA Health Sciences in a report on Friday, November 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. PRA Health Sciences currently has an average rating of “Buy” and a consensus price target of $55.86.
Shares of PRA Health Sciences (NASDAQ:PRAH) traded down 0.02% during midday trading on Wednesday, reaching $54.53. 208,690 shares of the company’s stock were exchanged. PRA Health Sciences has a 12-month low of $35.60 and a 12-month high of $60.96. The firm has a 50-day moving average of $55.06 and a 200-day moving average of $49.58. The stock has a market capitalization of $3.35 billion, a P/E ratio of 42.34 and a beta of 0.61.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smith Asset Management Group LP boosted its position in shares of PRA Health Sciences by 361.4% in the second quarter. Smith Asset Management Group LP now owns 58,088 shares of the company’s stock worth $2,426,000 after buying an additional 45,498 shares during the period. Bank of Montreal Can acquired a new position in shares of PRA Health Sciences during the second quarter worth about $7,306,000. Meeder Asset Management Inc. boosted its position in shares of PRA Health Sciences by 143.6% in the second quarter. Meeder Asset Management Inc. now owns 9,451 shares of the company’s stock worth $395,000 after buying an additional 5,572 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in shares of PRA Health Sciences during the second quarter worth about $2,941,000. Finally, Acadian Asset Management LLC boosted its position in shares of PRA Health Sciences by 93.3% in the second quarter. Acadian Asset Management LLC now owns 2,330,543 shares of the company’s stock worth $97,324,000 after buying an additional 1,125,077 shares during the period.
ILLEGAL ACTIVITY NOTICE: “[[title]]” was originally published by [[site]] and is owned by of [[site]]. If you are reading this news story on another publication, it was copied illegally and republished in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at [[permalink]].
PRA Health Sciences Company Profile
PRA Health Sciences, Inc is a contract research organization (CRO). 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.