Equities analysts expect that PRA Health Sciences, Inc. (NASDAQ:PRAH) will post $470.60 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for PRA Health Sciences’ earnings, with estimates ranging from $467.57 million to $477.80 million. PRA Health Sciences reported sales of $399.84 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17.7%. The company is expected to issue its next earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that PRA Health Sciences will report full year sales of $470.60 million for the current year, with estimates ranging from $1.84 billion to $1.85 billion. For the next year, analysts forecast that the firm will report sales of $2.09 billion per share, with estimates ranging from $2.07 billion to $2.11 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow PRA Health Sciences.

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

Several analysts recently issued reports on PRAH shares. Zacks Investment Research lowered PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Jefferies Group LLC reiterated a “buy” rating and set a $92.00 target price (up previously from $88.00) on shares of PRA Health Sciences in a report on Thursday, August 10th. Citigroup Inc. reiterated a “buy” rating and set a $93.00 target price (up previously from $90.00) on shares of PRA Health Sciences in a report on Thursday, August 10th. Bank of America Corporation initiated coverage on PRA Health Sciences in a report on Monday, June 26th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Credit Suisse Group upped their price objective on PRA Health Sciences from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.00.

Shares of PRA Health Sciences (PRAH) opened at 74.83 on Thursday. PRA Health Sciences has a 12-month low of $50.87 and a 12-month high of $80.99. The firm has a 50-day moving average price of $75.83 and a 200-day moving average price of $70.04. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 48.31 and a beta of 0.45.

In other PRA Health Sciences news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $74.85, for a total value of $711,075,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Colin Shannon sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $29,940,000.00. The disclosure for this sale can be found here. Insiders sold 10,000,000 shares of company stock worth $748,500,000 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. First Bank & Trust raised its stake in PRA Health Sciences by 1.6% in the second quarter. First Bank & Trust now owns 3,211 shares of the medical research company’s stock valued at $241,000 after buying an additional 52 shares during the period. Renaissance Group LLC grew its position in shares of PRA Health Sciences by 2.5% in the second quarter. Renaissance Group LLC now owns 5,239 shares of the medical research company’s stock valued at $393,000 after purchasing an additional 126 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of PRA Health Sciences by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,892 shares of the medical research company’s stock valued at $1,428,000 after purchasing an additional 140 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PRA Health Sciences by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock valued at $112,000 after purchasing an additional 160 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in shares of PRA Health Sciences by 1.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,505 shares of the medical research company’s stock valued at $638,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 98.38% of the company’s stock.

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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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Earnings History and Estimates for PRA Health Sciences (NASDAQ:PRAH)

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