Wall Street brokerages expect that PRA Health Sciences Inc (NASDAQ:PRAH) will post $772.88 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for PRA Health Sciences’ earnings, with the lowest sales estimate coming in at $766.37 million and the highest estimate coming in at $777.77 million. PRA Health Sciences posted sales of $717.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that PRA Health Sciences will report full year sales of $3.06 billion for the current year, with estimates ranging from $3.04 billion to $3.07 billion. For the next year, analysts expect that the firm will post sales of $3.32 billion, with estimates ranging from $3.27 billion to $3.36 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for PRA Health Sciences.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Wednesday, July 31st. The medical research company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.11. PRA Health Sciences had a net margin of 5.39% and a return on equity of 26.64%. The firm had revenue of $763.31 million for the quarter, compared to the consensus estimate of $764.95 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. Leerink Swann assumed coverage on shares of PRA Health Sciences in a research note on Tuesday, July 2nd. They set a “market perform” rating and a $105.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of PRA Health Sciences from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Svb Leerink reaffirmed a “market perform” rating on shares of PRA Health Sciences in a research note on Tuesday, July 2nd. BidaskClub raised shares of PRA Health Sciences from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Barclays boosted their target price on shares of PRA Health Sciences from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $115.00.

In other news, major shareholder Fund Holdings L.P. Kkr sold 6,666,684 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $97.41, for a total value of $649,401,688.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new stake in shares of PRA Health Sciences during the 2nd quarter valued at about $40,000. Steward Partners Investment Advisory LLC bought a new stake in shares of PRA Health Sciences during the 2nd quarter valued at about $49,000. Manchester Capital Management LLC bought a new stake in shares of PRA Health Sciences during the 1st quarter valued at about $57,000. Advisor Group Inc. grew its position in shares of PRA Health Sciences by 12.3% during the 2nd quarter. Advisor Group Inc. now owns 1,296 shares of the medical research company’s stock valued at $129,000 after buying an additional 142 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new stake in shares of PRA Health Sciences during the 2nd quarter valued at about $184,000. 99.64% of the stock is owned by institutional investors.

PRA Health Sciences stock traded up $2.05 during midday trading on Friday, hitting $103.90. 382,066 shares of the stock were exchanged, compared to its average volume of 644,379. PRA Health Sciences has a 1 year low of $82.12 and a 1 year high of $121.98. The firm has a market cap of $6.71 billion, a P/E ratio of 26.44, a P/E/G ratio of 1.37 and a beta of 1.13. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.99 and a quick ratio of 0.99. The company has a 50 day moving average price of $98.48 and a two-hundred day moving average price of $98.54.

About PRA Health Sciences

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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Earnings History and Estimates for PRA Health Sciences (NASDAQ:PRAH)

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