PRA Health Sciences, Inc. (PRAH) Issues Quarterly Earnings Results
PRA Health Sciences, Inc. (NASDAQ:PRAH) posted its earnings results on Monday. The medical research company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.10, Morningstar.com reports. PRA Health Sciences had a net margin of 5.85% and a return on equity of 21.87%. The company had revenue of $457.90 million during the quarter, compared to analysts’ expectations of $447.79 million. During the same quarter last year, the firm earned $0.63 EPS. PRA Health Sciences’s revenue for the quarter was up .5% on a year-over-year basis. PRA Health Sciences updated its FY17 guidance to $3.11-$3.20 EPS.
Shares of PRA Health Sciences (NASDAQ PRAH) traded up 9.08% during midday trading on Tuesday, reaching $80.97. The company’s stock had a trading volume of 250,501 shares. PRA Health Sciences has a 12-month low of $46.52 and a 12-month high of $80.99. The company has a market cap of $5.06 billion, a P/E ratio of 48.37 and a beta of 0.45. The stock’s 50-day moving average price is $75.01 and its 200-day moving average price is $66.37.
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Several equities analysts have issued reports on the company. Citigroup Inc. reiterated a “buy” rating and issued a $90.00 target price (up previously from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th. Jefferies Group LLC lifted their target price on PRA Health Sciences from $72.00 to $72.50 and gave the company a “buy” rating in a research note on Friday, April 28th. Robert W. Baird lifted their target price on PRA Health Sciences from $82.00 to $83.00 and gave the company an “outperform” rating in a research note on Tuesday. BidaskClub lowered PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Bank of America Corporation assumed coverage on PRA Health Sciences in a research note on Monday, June 26th. They issued a “buy” rating and a $89.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. PRA Health Sciences has an average rating of “Buy” and an average price target of $74.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRAH. Meeder Asset Management Inc. increased its position in PRA Health Sciences by 144.0% in the second quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock worth $115,000 after buying an additional 906 shares during the last quarter. Envestnet Asset Management Inc. increased its position in PRA Health Sciences by 232.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock worth $121,000 after buying an additional 1,289 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in PRA Health Sciences during the first quarter worth approximately $136,000. First Bank & Trust increased its position in PRA Health Sciences by 1.7% in the first quarter. First Bank & Trust now owns 3,159 shares of the medical research company’s stock worth $206,000 after buying an additional 54 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in PRA Health Sciences during the first quarter worth approximately $208,000.
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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