Zacks Investment Research upgraded shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) from a hold rating to a buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $85.00 price target on the medical research company’s stock.

According to Zacks, “PRA Health Sciences, Inc. operates as a global contract research organizations providing outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in the areas of cardio-metabolic, biosimilars, infectious diseases, immunology, neurology and psychiatry, oncology and hematology, rare diseases, and respiratory needs. The Company engages in bioanalytical laboratory, clinical pharmacology, clinical development, strategic solutions, post marketing research, clinical informatics, clinical diagnostics, and safety and risk management activities. PRA Health Sciences, Inc. is based in Raleigh, North Carolina. “

Other analysts have also issued reports about the stock. BidaskClub lowered shares of PRA Health Sciences from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Citigroup Inc. reaffirmed a buy rating and issued a $90.00 price target (up from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th. Bank of America Corporation initiated coverage on shares of PRA Health Sciences in a research note on Monday, June 26th. They issued a buy rating and a $89.00 price target for the company. Jefferies Group LLC reaffirmed a buy rating and issued a $92.00 price target (up from $88.00) on shares of PRA Health Sciences in a research note on Thursday, August 10th. Finally, SunTrust Banks, Inc. reaffirmed a buy rating on shares of PRA Health Sciences in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $81.44.

PRA Health Sciences (PRAH) traded up 0.71% during midday trading on Wednesday, hitting $77.95. 654,484 shares of the stock were exchanged. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 50.32 and a beta of 0.45. PRA Health Sciences has a 52 week low of $48.42 and a 52 week high of $80.99. The firm’s 50-day moving average is $75.57 and its 200 day moving average is $69.21.

PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.10. The company had revenue of $457.90 million during the quarter, compared to analyst estimates of $447.79 million. PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. Equities research analysts expect that PRA Health Sciences will post $3.19 EPS for the current fiscal year.

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In related news, CEO Colin Shannon sold 400,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $29,940,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the stock in a transaction that occurred 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 three months, insiders have sold 10,000,000 shares of company stock valued at $748,500,000. Company insiders own 2.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. First Bank & Trust increased its stake in shares of PRA Health Sciences by 1.6% in the second quarter. First Bank & Trust now owns 3,211 shares of the medical research company’s stock valued at $241,000 after buying an additional 52 shares during the period. Renaissance Group LLC increased its stake in shares of PRA Health Sciences by 2.5% in the second quarter. Renaissance Group LLC now owns 5,239 shares of the medical research company’s stock valued at $393,000 after buying an additional 126 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of PRA Health Sciences by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,892 shares of the medical research company’s stock valued at $1,428,000 after buying an additional 140 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 buying an additional 160 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of PRA Health Sciences by 1.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,505 shares of the medical research company’s stock valued at $638,000 after buying an additional 160 shares during the period. 98.38% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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