Equities researchers at Raymond James Financial, Inc. started coverage on shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) in a research note issued on Wednesday. The firm set an “outperform” rating and a $89.00 price target on the medical research company’s stock. Raymond James Financial, Inc.’s target price would indicate a potential upside of 18.41% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of PRA Health Sciences from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday. Jefferies Group LLC reiterated a “buy” rating and issued a $92.00 target price (up from $88.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. Citigroup Inc. reiterated a “buy” rating and issued a $93.00 target price (up from $90.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. SunTrust Banks, Inc. reiterated a “buy” rating on shares of PRA Health Sciences in a research note on Wednesday, August 9th. Finally, Credit Suisse Group raised their target price on shares of PRA Health Sciences from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $81.22.

PRA Health Sciences (PRAH) traded down 0.71% during mid-day trading on Wednesday, hitting $75.16. The stock had a trading volume of 792,478 shares. The firm’s 50-day moving average is $75.23 and its 200 day moving average is $67.76. The stock has a market cap of $4.71 billion, a PE ratio of 48.52 and a beta of 0.45. PRA Health Sciences has a one year low of $48.42 and a one year high of $80.99.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.10. The business had revenue of $457.90 million for the quarter, compared to the consensus estimate of $447.79 million. PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. Equities research analysts expect that PRA Health Sciences will post $3.18 EPS for the current year.

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In other news, VP Linda Baddour sold 100,000 shares of PRA Health Sciences stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $7,485,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Colin Shannon sold 400,000 shares of PRA Health Sciences stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $29,940,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,000,000 shares of company stock worth $748,500,000. 2.10% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of PRA Health Sciences by 3.8% in the first quarter. Vanguard Group Inc. now owns 4,659,592 shares of the medical research company’s stock valued at $303,946,000 after buying an additional 170,812 shares during the period. BlackRock Inc. raised its stake in shares of PRA Health Sciences by 28.2% in the second quarter. BlackRock Inc. now owns 3,662,954 shares of the medical research company’s stock valued at $274,759,000 after buying an additional 805,573 shares during the period. Capital Research Global Investors raised its stake in shares of PRA Health Sciences by 318.3% in the second quarter. Capital Research Global Investors now owns 2,175,340 shares of the medical research company’s stock valued at $163,172,000 after buying an additional 1,655,336 shares during the period. Acadian Asset Management LLC raised its stake in shares of PRA Health Sciences by 0.4% in the first quarter. Acadian Asset Management LLC now owns 2,153,016 shares of the medical research company’s stock valued at $140,441,000 after buying an additional 7,769 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of PRA Health Sciences during the first quarter valued at $82,935,000. Institutional investors and hedge funds own 96.76% of the company’s stock.

About PRA Health Sciences

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.

Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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