PAREXEL International Co. (PRXL) Raised to “Neutral” at Goldman Sachs Group Inc
PAREXEL International Co. (NASDAQ:PRXL) was upgraded by equities researchers at Goldman Sachs Group Inc from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $77.00 price target on the medical research company’s stock, up from their previous price target of $63.00. Goldman Sachs Group Inc’s price objective would suggest a potential downside of 4.00% from the stock’s current price.
Several other research firms have also commented on PRXL. Barclays PLC restated an “overweight” rating and set a $87.00 price target on shares of PAREXEL International in a research report on Wednesday, May 17th. Zacks Investment Research upgraded shares of PAREXEL International from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Thursday, January 26th. Evercore ISI upgraded shares of PAREXEL International from an “in-line” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Monday, May 15th. Raymond James Financial, Inc. lowered shares of PAREXEL International from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 2nd. Finally, Credit Suisse Group AG reiterated a “neutral” rating and issued a $65.00 target price (down previously from $68.00) on shares of PAREXEL International in a research report on Sunday, February 5th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $72.25.
Shares of PAREXEL International (NASDAQ:PRXL) traded up 0.86% on Tuesday, reaching $80.21. 598,893 shares of the company traded hands. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 35.26 and a beta of 0.82. PAREXEL International has a 1-year low of $51.16 and a 1-year high of $81.79. The company has a 50-day moving average of $69.48 and a 200-day moving average of $65.58.
PAREXEL International (NASDAQ:PRXL) last released its quarterly earnings results on Wednesday, May 3rd. The medical research company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $529.30 million for the quarter, compared to analyst estimates of $529.38 million. PAREXEL International had a net margin of 6.34% and a return on equity of 29.92%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business earned $0.89 earnings per share. Analysts anticipate that PAREXEL International will post $3.23 earnings per share for the current fiscal year.
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In related news, SVP Sybrand Pretorius sold 8,050 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $65.12, for a total transaction of $524,216.00. Following the transaction, the senior vice president now directly owns 9,950 shares in the company, valued at $647,944. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in PAREXEL International by 22,876.6% in the first quarter. BlackRock Inc. now owns 5,513,456 shares of the medical research company’s stock worth $347,955,000 after buying an additional 5,489,460 shares during the last quarter. Credit Suisse AG raised its position in PAREXEL International by 1,897.2% in the first quarter. Credit Suisse AG now owns 2,093,297 shares of the medical research company’s stock worth $132,108,000 after buying an additional 1,988,488 shares during the last quarter. State Street Corp raised its position in PAREXEL International by 2.1% in the first quarter. State Street Corp now owns 1,673,118 shares of the medical research company’s stock worth $105,586,000 after buying an additional 34,328 shares during the last quarter. Nomura Holdings Inc. raised its position in PAREXEL International by 189.6% in the first quarter. Nomura Holdings Inc. now owns 1,381,087 shares of the medical research company’s stock worth $87,088,000 after buying an additional 904,236 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its position in PAREXEL International by 6.9% in the first quarter. Congress Asset Management Co. MA now owns 814,555 shares of the medical research company’s stock worth $51,407,000 after buying an additional 52,925 shares during the last quarter. Hedge funds and other institutional investors own 91.44% of the company’s stock.
About PAREXEL International
PAREXEL International Corporation (PAREXEL) is a biopharmaceutical outsourcing services company. The Company provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and technology products and services to pharmaceutical, biotechnology and medical device industries.
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