Zacks: Brokerages Anticipate PRA Health Sciences Inc (PRAH) Will Announce Quarterly Sales of $543.72 Million
Wall Street brokerages expect that PRA Health Sciences Inc (NASDAQ:PRAH) will post sales of $543.72 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for PRA Health Sciences’ earnings, with the highest sales estimate coming in at $546.98 million and the lowest estimate coming in at $540.60 million. PRA Health Sciences posted sales of $413.61 million during the same quarter last year, which would suggest a positive year over year growth rate of 31.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that PRA Health Sciences will report full year sales of $543.72 million for the current year, with estimates ranging from $1.92 billion to $1.93 billion. For the next financial year, analysts expect that the business 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 averages are an average based on a survey of analysts that follow PRA Health Sciences.
PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.85 by $0.03. PRA Health Sciences had a net margin of 5.64% and a return on equity of 21.66%. The business had revenue of $494.55 million during the quarter, compared to the consensus estimate of $477.89 million. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue was up 23.7% on a year-over-year basis.
Several research analysts have commented on PRAH shares. Jefferies Group restated a “buy” rating and set a $95.00 price objective on shares of PRA Health Sciences in a research report on Thursday, October 26th. Zacks Investment Research upgraded shares of PRA Health Sciences from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Friday, September 8th. Robert W. Baird restated a “buy” rating and set a $88.00 price objective on shares of PRA Health Sciences in a research report on Monday, October 9th. Mizuho started coverage on shares of PRA Health Sciences in a research report on Thursday, September 21st. They set a “buy” rating and a $82.00 price objective for the company. Finally, SunTrust Banks restated a “buy” rating and set a $101.00 price objective on shares of PRA Health Sciences in a research report on Friday, October 27th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $90.46.
PRA Health Sciences (PRAH) opened at $90.25 on Friday. PRA Health Sciences has a 1 year low of $53.47 and a 1 year high of $90.43. The company has a market cap of $5,719.14, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 1.56 and a beta of 0.40. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.01 and a current ratio of 1.01.
In other news, Director Matthew P. Young sold 5,115 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.90, for a total transaction of $408,688.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PRA Health Sciences by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock valued at $112,000 after purchasing an additional 160 shares during the period. Carroll Financial Associates Inc. increased its holdings in PRA Health Sciences by 127.4% in the third quarter. Carroll Financial Associates Inc. now owns 1,410 shares of the medical research company’s stock valued at $112,000 after purchasing an additional 790 shares during the period. Comerica Bank acquired a new stake in PRA Health Sciences in the third quarter valued at $214,000. Trustmark National Bank Trust Department acquired a new stake in PRA Health Sciences in the second quarter valued at $225,000. Finally, Aperio Group LLC acquired a new stake in PRA Health Sciences in the second quarter valued at $233,000. Institutional investors own 98.49% of the company’s stock.
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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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