PRA Health Sciences Inc (PRAH) Expected to Post Quarterly Sales of $543.65 Million

Equities analysts expect that PRA Health Sciences Inc (NASDAQ:PRAH) will announce sales of $543.65 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for PRA Health Sciences’ earnings, with the highest sales estimate coming in at $546.43 million and the lowest estimate coming in at $540.60 million. PRA Health Sciences posted sales of $413.61 million in the same quarter last year, which would indicate a positive year over year growth rate of 31.4%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, February 21st.

On average, analysts expect that PRA Health Sciences will report full year sales of $543.65 million for the current financial year, with estimates ranging from $1.92 billion to $1.93 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.34 billion per share, with estimates ranging from $2.29 billion to $2.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover PRA Health Sciences.

A number of equities research analysts recently weighed in on PRAH shares. Robert W. Baird reaffirmed a “buy” rating and issued a $88.00 target price on shares of PRA Health Sciences in a research note on Monday, October 9th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $90.00 target price (up from $84.00) on shares of PRA Health Sciences in a research note on Monday, October 16th. Jefferies Group reaffirmed a “buy” rating and issued a $95.00 target price on shares of PRA Health Sciences in a research note on Thursday, October 26th. SunTrust Banks reaffirmed a “buy” rating and issued a $101.00 target price on shares of PRA Health Sciences in a research note on Friday, October 27th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $93.00 target price (up from $86.00) on shares of PRA Health Sciences in a research note on Monday, October 30th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $92.31.

In related news, EVP David W. Dockhorn sold 72,850 shares of PRA Health Sciences stock in a transaction on Friday, December 28th. The shares were sold at an average price of $90.83, for a total value of $6,616,965.50. Following the transaction, the executive vice president now directly owns 72,850 shares of the company’s stock, valued at $6,616,965.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew P. Young sold 5,115 shares of PRA Health Sciences stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $79.90, for a total transaction of $408,688.50. The disclosure for this sale can be found here. Insiders have sold 217,815 shares of company stock worth $19,690,710 over the last three months. Insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PRAH. Amalgamated Bank purchased a new position in shares of PRA Health Sciences in the second quarter worth $370,000. New York State Common Retirement Fund increased its stake in shares of PRA Health Sciences by 23.6% in the second quarter. New York State Common Retirement Fund now owns 58,180 shares of the medical research company’s stock worth $4,364,000 after buying an additional 11,094 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of PRA Health Sciences by 6.3% in the second quarter. UBS Asset Management Americas Inc. now owns 22,058 shares of the medical research company’s stock worth $1,655,000 after buying an additional 1,303 shares during the period. Northern Trust Corp increased its stake in shares of PRA Health Sciences by 42.0% in the second quarter. Northern Trust Corp now owns 500,669 shares of the medical research company’s stock worth $37,556,000 after buying an additional 148,153 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of PRA Health Sciences by 6.8% in the second quarter. California Public Employees Retirement System now owns 80,300 shares of the medical research company’s stock worth $6,023,000 after buying an additional 5,100 shares during the period. 97.82% of the stock is currently owned by institutional investors.

Shares of PRA Health Sciences (PRAH) opened at $89.37 on Monday. The firm has a market cap of $5,660.00, a P/E ratio of 50.21, a P/E/G ratio of 1.21 and a beta of 0.31. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.01 and a quick ratio of 1.01. PRA Health Sciences has a one year low of $57.67 and a one year high of $95.90.

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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.

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