Strategic Global Advisors LLC lessened its position in PRA Health Sciences, Inc. (NASDAQ:PRAH) by 10.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,624 shares of the medical research company’s stock after selling 1,530 shares during the quarter. Strategic Global Advisors LLC’s holdings in PRA Health Sciences were worth $947,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of PRA Health Sciences by 175.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 44,764 shares of the medical research company’s stock worth $2,921,000 after acquiring an additional 28,526 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of PRA Health Sciences in the 1st quarter worth about $7,356,000. Sheaff Brock Investment Advisors LLC bought a new stake in shares of PRA Health Sciences in the 2nd quarter worth about $1,016,000. Renaissance Group LLC lifted its holdings in shares of PRA Health Sciences by 2.5% in the 2nd quarter. Renaissance Group LLC now owns 5,239 shares of the medical research company’s stock worth $393,000 after acquiring an additional 126 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of PRA Health Sciences by 32.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 28,968 shares of the medical research company’s stock worth $2,173,000 after acquiring an additional 7,076 shares during the last quarter. Hedge funds and other institutional investors own 98.38% of the company’s stock.
Shares of PRA Health Sciences, Inc. (PRAH) traded up 0.15% during midday trading on Friday, reaching $74.00. 889,908 shares of the company were exchanged. PRA Health Sciences, Inc. has a 52 week low of $50.87 and a 52 week high of $80.99. The firm has a market capitalization of $4.64 billion, a P/E ratio of 47.77 and a beta of 0.45. The firm has a 50-day moving average of $75.69 and a 200 day moving average of $70.20.
PRA Health Sciences (NASDAQ:PRAH) last posted its earnings results on Monday, August 7th. The medical research company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.10). PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The company had revenue of $457.90 million during the quarter, compared to analyst estimates of $447.79 million. During the same period in the previous year, the company earned $0.63 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that PRA Health Sciences, Inc. will post $3.19 EPS for the current year.
Several research firms have recently issued reports on PRAH. Zacks Investment Research lowered shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Group LLC set a $73.00 target price on shares of PRA Health Sciences and gave the stock a “buy” rating in a report on Thursday, June 1st. SunTrust Banks, Inc. restated a “buy” rating on shares of PRA Health Sciences in a report on Wednesday, August 9th. Bank of America Corporation began 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 for the company. Finally, Credit Suisse Group restated an “outperform” rating and issued a $76.00 target price (up previously from $69.00) on shares of PRA Health Sciences in a report on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. PRA Health Sciences has an average rating of “Buy” and a consensus target price of $85.00.
In other PRA Health Sciences news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $711,075,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Colin Shannon sold 400,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $29,940,000.00. The disclosure for this sale can be found here. Insiders sold 10,000,000 shares of company stock worth $748,500,000 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.
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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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