Citigroup Inc. Increases PRA Health Sciences Inc. (PRAH) Price Target to $66.00
PRA Health Sciences Inc. (NASDAQ:PRAH) had its price target increased by analysts at Citigroup Inc. from $55.00 to $66.00 in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the stock. Citigroup Inc.’s price target would indicate a potential upside of 18.96% from the company’s current price.
PRAH has been the topic of a number of other reports. Credit Suisse Group AG initiated coverage on shares of PRA Health Sciences in a report on Monday, June 20th. They set a “neutral” rating and a $43.00 price target on the stock. Jefferies Group reissued a “buy” rating on shares of PRA Health Sciences in a report on Tuesday, September 13th. KeyCorp raised shares of PRA Health Sciences from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective on the stock in a report on Monday, June 13th. Zacks Investment Research downgraded shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Finally, First Analysis assumed coverage on shares of PRA Health Sciences in a report on Monday, June 20th. They set an “equal weight” rating and a $47.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $50.39.
PRA Health Sciences (NASDAQ:PRAH) traded up 1.14% during mid-day trading on Thursday, hitting $56.11. 68,646 shares of the stock were exchanged. The stock’s 50 day moving average is $51.04 and its 200 day moving average is $46.37. PRA Health Sciences has a 52-week low of $33.00 and a 52-week high of $56.38. The stock has a market cap of $3.42 billion, a PE ratio of 48.12 and a beta of 0.54.
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PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. PRA Health Sciences had a net margin of 4.53% and a return on equity of 20.47%. The firm had revenue of $394.20 million for the quarter, compared to the consensus estimate of $381.25 million. During the same period in the prior year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts forecast that PRA Health Sciences will post $2.47 EPS for the current fiscal year.
In other news, VP Linda Baddour sold 69,380 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $52.00, for a total value of $3,607,760.00. Following the transaction, the vice president now directly owns 69,380 shares of the company’s stock, valued at $3,607,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Colin Shannon sold 113,133 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $51.57, for a total transaction of $5,834,268.81. Following the completion of the transaction, the chief executive officer now directly owns 120,000 shares in the company, valued at $6,188,400. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake in PRA Health Sciences by 28.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 102,949 shares of the company’s stock valued at $4,300,000 after buying an additional 22,937 shares during the last quarter. Legal & General Group Plc boosted its stake in PRA Health Sciences by 16.7% in the second quarter. Legal & General Group Plc now owns 5,723 shares of the company’s stock valued at $238,000 after buying an additional 820 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in PRA Health Sciences by 29.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 17,844 shares of the company’s stock valued at $745,000 after buying an additional 4,083 shares during the last quarter. Numeric Investors LLC boosted its stake in PRA Health Sciences by 39.3% in the second quarter. Numeric Investors LLC now owns 32,600 shares of the company’s stock valued at $1,361,000 after buying an additional 9,200 shares during the last quarter. Finally, FDx Advisors Inc. boosted its stake in PRA Health Sciences by 6.3% in the second quarter. FDx Advisors Inc. now owns 5,154 shares of the company’s stock valued at $215,000 after buying an additional 305 shares during the last quarter.
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.
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