$470.60 Million in Sales Expected for PRA Health Sciences, Inc. (PRAH) This Quarter
Analysts predict that PRA Health Sciences, Inc. (NASDAQ:PRAH) will report sales of $470.60 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for PRA Health Sciences’ earnings, with the lowest sales estimate coming in at $467.57 million and the highest estimate coming in at $477.80 million. PRA Health Sciences posted sales of $399.84 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.7%. The company is expected to issue its next quarterly 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 financial year, analysts forecast that the company 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 research firms that that provide coverage for PRA Health Sciences.
PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.10). PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. The business had revenue of $457.90 million during the quarter, compared to analyst estimates of $447.79 million. During the same period in the prior year, the business posted $0.63 EPS. PRA Health Sciences’s revenue was up .5% compared to the same quarter last year.
Several research firms have recently weighed in on PRAH. SunTrust Banks, Inc. reissued a “buy” rating on shares of PRA Health Sciences in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Mizuho assumed coverage on shares of PRA Health Sciences in a report on Thursday, September 21st. They issued a “buy” rating and a $82.00 target price on the stock. Bank of America Corporation started coverage on shares of PRA Health Sciences in a report on Monday, June 26th. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Raymond James Financial, Inc. started coverage on shares of PRA Health Sciences in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $89.00 price target for the company. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $84.22.
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In related news, VP Linda Baddour sold 100,000 shares of PRA Health Sciences stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $7,485,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of PRA Health Sciences stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $711,075,000.00. The disclosure for this sale can be found here. Insiders have sold 10,000,000 shares of company stock valued at $748,500,000 in the last 90 days. Company insiders own 2.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PRA Health Sciences by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock worth $112,000 after buying an additional 160 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of PRA Health Sciences by 144.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock worth $115,000 after acquiring an additional 906 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of PRA Health Sciences by 232.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock worth $121,000 after acquiring an additional 1,289 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of PRA Health Sciences in the 1st quarter worth $136,000. Finally, CAPROCK Group Inc. purchased a new stake in shares of PRA Health Sciences in the second quarter valued at about $208,000. 98.37% of the stock is currently owned by institutional investors.
PRA Health Sciences (NASDAQ PRAH) traded up 0.95% during trading on Tuesday, hitting $76.83. 133,423 shares of the stock traded hands. PRA Health Sciences has a 12 month low of $50.87 and a 12 month high of $80.99. The company has a market cap of $4.81 billion, a P/E ratio of 49.60 and a beta of 0.42. The company’s 50 day moving average price is $75.86 and its 200 day moving average price is $71.64.
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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