Pictet Asset Management Ltd. increased its stake in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 569,002 shares of the medical research company’s stock after buying an additional 63,388 shares during the period. Pictet Asset Management Ltd. owned about 0.91% of PRA Health Sciences worth $43,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PRAH. UBS Asset Management Americas Inc. boosted its holdings in PRA Health Sciences by 62.7% during the first quarter. UBS Asset Management Americas Inc. now owns 20,755 shares of the medical research company’s stock worth $1,354,000 after buying an additional 7,999 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in PRA Health Sciences by 232.3% during the first quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock worth $121,000 after buying an additional 1,289 shares in the last quarter. Teachers Advisors LLC boosted its holdings in PRA Health Sciences by 2.6% during the first quarter. Teachers Advisors LLC now owns 251,007 shares of the medical research company’s stock worth $16,373,000 after buying an additional 6,402 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in PRA Health Sciences by 8.3% during the first quarter. TIAA CREF Investment Management LLC now owns 152,055 shares of the medical research company’s stock worth $9,919,000 after buying an additional 11,690 shares in the last quarter. Finally, California Public Employees Retirement System purchased a new stake in PRA Health Sciences during the first quarter worth about $4,905,000. 98.48% of the stock is currently owned by hedge funds and other institutional investors.

PRAH has been the topic of a number of research analyst reports. BidaskClub downgraded shares of PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of PRA Health Sciences from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Tuesday, August 15th. Credit Suisse Group boosted their price objective on shares of PRA Health Sciences from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. Raymond James Financial, Inc. initiated coverage on shares of PRA Health Sciences in a report on Wednesday, August 16th. They set an “outperform” rating and a $89.00 price objective on the stock. Finally, Mizuho initiated coverage on shares of PRA Health Sciences in a report on Thursday, September 21st. They set a “buy” rating and a $82.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $88.09.

In other news, CEO Colin Shannon sold 400,000 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Linda Baddour sold 100,000 shares of the firm’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 $7,485,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,000,000 shares of company stock valued at $748,500,000. Insiders own 2.10% of the company’s stock.

PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $494.55 million during the quarter, compared to analyst estimates of $477.89 million. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 23.7% on a year-over-year basis.

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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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Institutional Ownership by Quarter for PRA Health Sciences (NASDAQ:PRAH)

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