Skandinaviska Enskilda Banken AB publ reduced its holdings in PRA Health Sciences Inc (NASDAQ:PRAH) by 27.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 29,200 shares of the medical research company’s stock after selling 10,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in PRA Health Sciences were worth $2,425,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in PRAH. Wellington Management Group LLP lifted its holdings in shares of PRA Health Sciences by 3.0% during the first quarter. Wellington Management Group LLP now owns 5,729,212 shares of the medical research company’s stock worth $475,754,000 after purchasing an additional 167,867 shares during the period. Capital Research Global Investors increased its stake in PRA Health Sciences by 28.3% in the 1st quarter. Capital Research Global Investors now owns 3,305,287 shares of the medical research company’s stock worth $274,471,000 after acquiring an additional 729,301 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PRA Health Sciences by 57.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,689,079 shares of the medical research company’s stock valued at $223,302,000 after acquiring an additional 983,401 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of PRA Health Sciences by 11.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,960,897 shares of the medical research company’s stock valued at $217,954,000 after acquiring an additional 200,498 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of PRA Health Sciences by 3.4% during the first quarter. State Street Corp now owns 1,484,760 shares of the medical research company’s stock worth $123,294,000 after purchasing an additional 48,704 shares in the last quarter. 98.27% of the stock is owned by hedge funds and other institutional investors.
Shares of PRAH opened at $93.95 on Tuesday. The business has a 50-day simple moving average of $98.01 and a two-hundred day simple moving average of $96.95. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.30. PRA Health Sciences Inc has a 52 week low of $58.67 and a 52 week high of $113.32. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 25.67 and a beta of 1.09.
PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. The business had revenue of $783.71 million for the quarter, compared to the consensus estimate of $749.61 million. PRA Health Sciences had a net margin of 7.66% and a return on equity of 27.59%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 earnings per share. On average, equities analysts anticipate that PRA Health Sciences Inc will post 3.65 earnings per share for the current fiscal year.
In other PRA Health Sciences news, CFO Michael J. Bonello sold 3,672 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $87.97, for a total transaction of $323,025.84. Following the sale, the chief financial officer now directly owns 23,328 shares of the company’s stock, valued at $2,052,164.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
A number of equities research analysts recently weighed in on PRAH shares. SunTrust Banks raised their target price on shares of PRA Health Sciences from $89.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, May 4th. William Blair downgraded shares of PRA Health Sciences from an “outperform” rating to a “market perform” rating in a report on Friday, May 1st. UBS Group reduced their target price on PRA Health Sciences from $103.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Credit Suisse Group dropped their price target on PRA Health Sciences from $122.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Mizuho cut their price objective on PRA Health Sciences from $95.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, April 3rd. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $100.82.
PRA Health Sciences Company Profile
PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries worldwide. The company operates in two segments, Clinical Research and Data Solutions. The Clinical Research segment offers product registration services, including clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services.
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