American International Group Inc. reduced its stake in PRA Health Sciences Inc (NASDAQ:PRAH) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,935 shares of the medical research company’s stock after selling 2,021 shares during the period. American International Group Inc. owned approximately 0.18% of PRA Health Sciences worth $11,495,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pearl River Capital LLC acquired a new position in PRA Health Sciences in the 2nd quarter valued at about $40,000. Steward Partners Investment Advisory LLC acquired a new position in shares of PRA Health Sciences during the second quarter worth about $49,000. Advisor Group Inc. grew its position in shares of PRA Health Sciences by 12.3% during the second quarter. Advisor Group Inc. now owns 1,296 shares of the medical research company’s stock worth $129,000 after buying an additional 142 shares in the last quarter. Machina Capital S.A.S. acquired a new position in shares of PRA Health Sciences during the second quarter worth about $184,000. Finally, Sciencast Management LP acquired a new position in shares of PRA Health Sciences during the second quarter worth about $208,000. Hedge funds and other institutional investors own 98.67% of the company’s stock.
PRAH has been the subject of a number of analyst reports. Svb Leerink reissued a “market perform” rating on shares of PRA Health Sciences in a research report on Tuesday, July 2nd. BidaskClub downgraded PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, September 27th. Goldman Sachs Group initiated coverage on PRA Health Sciences in a report on Thursday, September 19th. They issued a “buy” rating and a $126.00 price target for the company. Barclays upped their price target on PRA Health Sciences from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group boosted their price objective on PRA Health Sciences from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $115.86.
Shares of PRA Health Sciences stock traded up $0.50 during trading hours on Friday, hitting $96.81. 232,722 shares of the company were exchanged, compared to its average volume of 398,643. PRA Health Sciences Inc has a 1 year low of $82.12 and a 1 year high of $121.98. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average of $100.15 and a 200-day moving average of $97.77. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.30 and a beta of 1.12.
PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Wednesday, July 31st. The medical research company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.11. PRA Health Sciences had a return on equity of 26.64% and a net margin of 5.39%. The business had revenue of $763.31 million during the quarter, compared to analysts’ expectations of $764.95 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that PRA Health Sciences Inc will post 4.65 earnings per share for the current fiscal year.
In other news, major shareholder Fund Holdings L.P. Kkr sold 6,666,684 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $97.41, for a total transaction of $649,401,688.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is owned by corporate insiders.
PRA Health Sciences Profile
PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution 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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