PRA Health Sciences, Inc. (PRAH) Shares Sold by Marshall Wace LLP
Marshall Wace LLP reduced its position in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) by 98.6% during the first quarter, Holdings Channel reports. The fund owned 17,927 shares of the medical research company’s stock after selling 1,238,174 shares during the period. Marshall Wace LLP’s holdings in PRA Health Sciences were worth $1,165,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of PRA Health Sciences by 3.8% in the first quarter. Vanguard Group Inc. now owns 4,659,592 shares of the medical research company’s stock worth $303,946,000 after buying an additional 170,812 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of PRA Health Sciences by 0.4% in the first quarter. Acadian Asset Management LLC now owns 2,153,016 shares of the medical research company’s stock worth $140,441,000 after buying an additional 7,769 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of PRA Health Sciences during the first quarter worth approximately $82,935,000. Marshall Wace North America L.P. acquired a new position in shares of PRA Health Sciences during the first quarter worth approximately $82,935,000. Finally, Columbia Wanger Asset Management LLC increased its position in shares of PRA Health Sciences by 33.1% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 1,175,201 shares of the medical research company’s stock worth $64,777,000 after buying an additional 292,376 shares during the last quarter.
PRA Health Sciences, Inc. (NASDAQ:PRAH) traded down 1.36% during mid-day trading on Monday, reaching $71.56. 571,466 shares of the company were exchanged. The company has a 50 day moving average of $69.06 and a 200-day moving average of $61.16. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 42.75 and a beta of 0.48. PRA Health Sciences, Inc. has a 1-year low of $39.25 and a 1-year high of $75.43.
PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings data on Tuesday, April 25th. The medical research company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. PRA Health Sciences had a net margin of 5.85% and a return on equity of 21.87%. The firm had revenue of $427.08 million for the quarter, compared to analyst estimates of $426.81 million. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts forecast that PRA Health Sciences, Inc. will post $3.14 EPS for the current year.
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PRAH has been the topic of a number of recent analyst reports. Jefferies Group LLC increased their price objective on shares of PRA Health Sciences from $72.00 to $72.50 and gave the stock a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research lowered shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, March 2nd. Credit Suisse Group reissued an “outperform” rating and issued a $76.00 price objective (up from $69.00) on shares of PRA Health Sciences in a research report on Tuesday, June 6th. Finally, Avondale Partners raised shares of PRA Health Sciences from an “underperform” rating to a “market perform” rating and set a $63.00 price objective on the stock in a research report on Monday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $63.57.
In other news, insider David W. Dockhorn sold 85,182 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $62.00, for a total value of $5,281,284.00. Following the transaction, the insider now directly owns 55,574 shares in the company, valued at approximately $3,445,588. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Colin Shannon sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $64.00, for a total transaction of $3,200,000.00. Following the completion of the transaction, the chief executive officer now owns 50,000 shares in the company, valued at $3,200,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 331,575 shares of company stock worth $20,969,915. Company insiders own 2.10% 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.
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