Avalon Investment & Advisory reduced its stake in shares of PRA Health Sciences Inc (NASDAQ:PRAH) by 22.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,767 shares of the medical research company’s stock after selling 12,940 shares during the quarter. Avalon Investment & Advisory owned about 0.07% of PRA Health Sciences worth $4,258,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PRAH. Legal & General Group Plc raised its position in PRA Health Sciences by 3.2% in the first quarter. Legal & General Group Plc now owns 130,018 shares of the medical research company’s stock valued at $10,796,000 after purchasing an additional 3,991 shares during the last quarter. Capital Research Global Investors grew its position in shares of PRA Health Sciences by 28.3% in the first quarter. Capital Research Global Investors now owns 3,305,287 shares of the medical research company’s stock valued at $274,471,000 after purchasing an additional 729,301 shares in the last quarter. Swiss National Bank grew its position in shares of PRA Health Sciences by 2.3% in the first quarter. Swiss National Bank now owns 122,658 shares of the medical research company’s stock valued at $10,186,000 after purchasing an additional 2,800 shares in the last quarter. Deutsche Bank AG grew its position in shares of PRA Health Sciences by 29.7% in the first quarter. Deutsche Bank AG now owns 92,426 shares of the medical research company’s stock valued at $7,675,000 after purchasing an additional 21,189 shares in the last quarter. Finally, State Street Corp grew its position in shares of PRA Health Sciences by 3.4% in the first quarter. State Street Corp now owns 1,484,760 shares of the medical research company’s stock valued at $123,294,000 after purchasing an additional 48,704 shares in the last quarter. Institutional investors own 98.15% of the company’s stock.
Several equities analysts recently commented on the company. Credit Suisse Group boosted their target price on PRA Health Sciences from $113.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Zacks Investment Research upgraded PRA Health Sciences from a “sell” rating to a “hold” rating and set a $99.00 price objective for the company in a report on Tuesday, May 19th. Bank of America cut PRA Health Sciences from a “neutral” rating to an “underperform” rating and set a $100.00 price objective for the company. in a report on Monday, August 10th. Citigroup upped their price objective on PRA Health Sciences from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, SunTrust Banks upped their price objective on PRA Health Sciences from $89.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. PRA Health Sciences currently has a consensus rating of “Hold” and a consensus price target of $105.23.
In other PRA Health Sciences news, CEO Colin Shannon sold 6,073 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $102.88, for a total value of $624,790.24. Following the sale, the chief executive officer now directly owns 56,927 shares of the company’s stock, valued at $5,856,649.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christopher L. Gaenzle sold 1,364 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $102.88, for a total transaction of $140,328.32. Following the completion of the sale, the chief accounting officer now directly owns 37,636 shares in the company, valued at $3,871,991.68. The disclosure for this sale can be found here. Insiders have sold 9,489 shares of company stock worth $976,228 over the last three months. Corporate insiders own 1.30% of the company’s stock.
NASDAQ PRAH traded down $0.97 during trading on Thursday, hitting $102.26. The stock had a trading volume of 5,640 shares, compared to its average volume of 283,107. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 2.31 and a beta of 1.10. PRA Health Sciences Inc has a one year low of $58.67 and a one year high of $113.32. The stock has a 50 day simple moving average of $101.49 and a 200 day simple moving average of $95.55.
PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings data on Thursday, August 6th. The medical research company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.22. The business had revenue of $729.89 million during the quarter, compared to the consensus estimate of $716.12 million. PRA Health Sciences had a net margin of 6.86% and a return on equity of 25.01%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 earnings per share. On average, sell-side analysts predict that PRA Health Sciences Inc will post 3.71 EPS for the current year.
PRA Health Sciences Company Profile
PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries worldwide. The company operates in two segments, Clinical Research and Data Solutions. The Clinical Research segment offers product registration services, including clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services.
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