PRA Health Sciences, Inc. (PRAH) Stake Raised by BlackRock Inc.
BlackRock Inc. grew its stake in PRA Health Sciences, Inc. (NASDAQ:PRAH) by 28.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,662,954 shares of the medical research company’s stock after purchasing an additional 805,573 shares during the quarter. BlackRock Inc. owned approximately 5.86% of PRA Health Sciences worth $274,759,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. MARSHALL WACE ASIA Ltd bought a new position in shares of PRA Health Sciences during the first quarter worth about $82,935,000. Marshall Wace North America L.P. acquired a new position in PRA Health Sciences in the first quarter worth about $82,935,000. Harbour Capital Advisors LLC acquired a new position in PRA Health Sciences in the second quarter worth about $6,400,000. Renaissance Technologies LLC acquired a new position in PRA Health Sciences in the first quarter worth about $20,339,000. Finally, Russell Investments Group Ltd. increased its holdings in PRA Health Sciences by 27.5% in the second quarter. Russell Investments Group Ltd. now owns 885,340 shares of the medical research company’s stock valued at $66,409,000 after buying an additional 191,109 shares during the last quarter. Institutional investors and hedge funds own 98.37% of the company’s stock.
Shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) opened at 77.54 on Wednesday. The company’s 50-day moving average is $75.94 and its 200 day moving average is $71.77. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 50.06 and a beta of 0.42. PRA Health Sciences, Inc. has a 1-year low of $50.87 and a 1-year high of $80.99.
PRA Health Sciences (NASDAQ:PRAH) last issued its earnings results on Monday, August 7th. The medical research company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.10). The firm had revenue of $457.90 million during the quarter, compared to analyst estimates of $447.79 million. PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, equities research analysts expect that PRA Health Sciences, Inc. will post $3.18 EPS for the current fiscal year.
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Several brokerages recently weighed in on PRAH. Mizuho initiated coverage on PRA Health Sciences in a report on Thursday, September 21st. They issued a “buy” rating and a $82.00 price objective for the company. Zacks Investment Research raised PRA Health Sciences from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Tuesday, September 19th. Finally, Raymond James Financial, Inc. assumed coverage on PRA Health Sciences in a report on Wednesday, August 16th. They set an “outperform” rating and a $89.00 target price on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. PRA Health Sciences has an average rating of “Buy” and a consensus price target of $84.22.
In other PRA Health Sciences news, CEO Colin Shannon sold 400,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $29,940,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the business’s 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. Over the last ninety days, insiders sold 10,000,000 shares of company stock valued at $748,500,000. 2.10% of the stock is owned by company insiders.
PRA Health Sciences 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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