PRA Health Sciences, Inc. (NASDAQ:PRAH) – Analysts at William Blair lifted their Q3 2017 earnings estimates for shares of PRA Health Sciences in a report released on Monday. William Blair analyst J. Kreger now forecasts that the medical research company will post earnings per share of $0.83 for the quarter, up from their prior forecast of $0.82. William Blair also issued estimates for PRA Health Sciences’ Q4 2017 earnings at $0.91 EPS, FY2017 earnings at $3.09 EPS, FY2018 earnings at $3.74 EPS, FY2019 earnings at $4.43 EPS and FY2020 earnings at $5.18 EPS.

Several other brokerages also recently commented on PRAH. Robert W. Baird reaffirmed a “buy” rating and issued a $88.00 price target on shares of PRA Health Sciences in a report on Monday. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of PRA Health Sciences in a report on Wednesday, August 9th. Zacks Investment Research cut PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Mizuho initiated coverage on PRA Health Sciences in a report on Thursday, September 21st. They issued a “buy” rating and a $82.00 price target on the stock. Finally, Bank of America Corporation initiated coverage on PRA Health Sciences in a report on Monday, June 26th. They issued a “buy” rating and a $89.00 price target on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. PRA Health Sciences presently has an average rating of “Buy” and a consensus target price of $84.78.

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Shares of PRA Health Sciences (NASDAQ PRAH) opened at 81.09 on Wednesday. The company has a market capitalization of $5.08 billion, a P/E ratio of 52.35 and a beta of 0.42. PRA Health Sciences has a 52-week low of $50.87 and a 52-week high of $82.00. The firm has a 50-day moving average of $76.65 and a 200 day moving average of $72.51.

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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.10). PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The firm had revenue of $457.90 million for the quarter, compared to analyst estimates of $447.79 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s revenue was up .5% compared to the same quarter last year.

In other news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of PRA Health Sciences 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Colin Shannon sold 400,000 shares of PRA Health Sciences 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 $29,940,000.00. The disclosure for this sale can be found here. Insiders sold a total of 10,000,000 shares of company stock worth $748,500,000 over the last ninety days. Insiders own 2.10% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of PRA Health Sciences during the second quarter valued at approximately $359,000. Ameritas Investment Partners Inc. boosted its position in shares of PRA Health Sciences by 62.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,404 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 1,315 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of PRA Health Sciences by 44.1% during the second quarter. California State Teachers Retirement System now owns 68,668 shares of the medical research company’s stock valued at $5,151,000 after purchasing an additional 21,031 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of PRA Health Sciences by 56.7% during the second quarter. The Manufacturers Life Insurance Company now owns 30,553 shares of the medical research company’s stock valued at $2,292,000 after purchasing an additional 11,057 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of PRA Health Sciences by 160.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 99,600 shares of the medical research company’s stock valued at $7,471,000 after purchasing an additional 61,400 shares in the last quarter. Hedge funds and other institutional investors own 98.37% of the company’s stock.

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.

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

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