PRA Health Sciences, Inc. (NASDAQ:PRAH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “PRA Health Sciences, Inc. operates as a global contract research organizations providing outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in the areas of cardio-metabolic, biosimilars, infectious diseases, immunology, neurology and psychiatry, oncology and hematology, rare diseases, and respiratory needs. The Company engages in bioanalytical laboratory, clinical pharmacology, clinical development, strategic solutions, post marketing research, clinical informatics, clinical diagnostics, and safety and risk management activities. PRA Health Sciences, Inc. is based in Raleigh, North Carolina. “

Several other research analysts also recently issued reports on PRAH. SunTrust Banks, Inc. reiterated a “buy” rating on shares of PRA Health Sciences in a research note on Wednesday, August 9th. Credit Suisse Group upped their target price on shares of PRA Health Sciences from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Robert W. Baird upped their target price on shares of PRA Health Sciences from $82.00 to $83.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. Citigroup Inc. reiterated a “buy” rating and issued a $93.00 target price (up previously from $90.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $92.00 target price (up previously from $88.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.00.

Shares of PRA Health Sciences (NASDAQ PRAH) opened at 73.78 on Friday. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 47.63 and a beta of 0.45. The firm has a 50-day moving average of $75.69 and a 200 day moving average of $70.11. PRA Health Sciences has a 1-year low of $50.87 and a 1-year high of $80.99.

PRA Health Sciences (NASDAQ:PRAH) last issued its earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.10). The firm had revenue of $457.90 million during the quarter, compared to the consensus estimate of $447.79 million. PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. Equities research analysts forecast that PRA Health Sciences will post $3.19 earnings per share for the current year.

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In other news, CEO Colin Shannon sold 400,000 shares of the business’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 transaction of $29,940,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Linda Baddour sold 100,000 shares of the business’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 transaction of $7,485,000.00. The disclosure for this sale can be found here. Insiders have sold 10,000,000 shares of company stock valued at $748,500,000 over the last three months. 2.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Bank & Trust raised its holdings in shares of PRA Health Sciences by 1.6% during the second quarter. First Bank & Trust now owns 3,211 shares of the medical research company’s stock valued at $241,000 after purchasing an additional 52 shares during the last quarter. Renaissance Group LLC raised its holdings in shares of PRA Health Sciences by 2.5% during 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 raised its holdings in shares of PRA Health Sciences by 0.6% during 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 raised its holdings in shares of PRA Health Sciences by 12.0% during 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. raised its holdings in shares of PRA Health Sciences by 1.9% during 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. 98.38% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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