Parexel International Corp. (NASDAQ:PRXL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Parexel International Corporation is one of the largest biopharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that expedite time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. Its information technology subsidiary, Perceptive Informatics, Inc., develops and offers a portfolio of innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales. “
Several other analysts also recently issued reports on the stock. William Blair downgraded shares of Parexel International Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, July 18th. Robert W. Baird reissued an “outperform” rating and issued a $73.00 price target on shares of Parexel International Corp. in a report on Monday, June 27th. Credit Suisse Group AG reissued a “buy” rating on shares of Parexel International Corp. in a report on Tuesday, September 27th. Citigroup Inc. reissued a “buy” rating and issued a $74.00 price target (up from $72.00) on shares of Parexel International Corp. in a report on Tuesday, July 5th. Finally, Deutsche Bank AG increased their price target on shares of Parexel International Corp. from $65.00 to $71.00 and gave the company a “hold” rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Parexel International Corp. has a consensus rating of “Hold” and a consensus price target of $71.75.
Shares of Parexel International Corp. (NASDAQ:PRXL) opened at 67.59 on Wednesday. Parexel International Corp. has a 12 month low of $56.00 and a 12 month high of $71.13. The company’s 50 day moving average is $68.27 and its 200-day moving average is $65.00. The company has a market cap of $3.59 billion, a P/E ratio of 23.63 and a beta of 0.92.
Parexel International Corp. (NASDAQ:PRXL) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The business earned $538.60 million during the quarter, compared to the consensus estimate of $532.41 million. Parexel International Corp. had a net margin of 6.44% and a return on equity of 33.29%. Parexel International Corp.’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. Analysts expect that Parexel International Corp. will post $3.92 EPS for the current fiscal year.
In other news, insider Gadi Saarony sold 2,500 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $70.05, for a total value of $175,125.00. Following the completion of the transaction, the insider now owns 9,417 shares in the company, valued at approximately $659,660.85. The sale was disclosed in a filing with the SEC, which is available at this link. 2.70% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in PRXL. Quantbot Technologies LP boosted its stake in shares of Parexel International Corp. by 644.3% in the second quarter. Quantbot Technologies LP now owns 1,630 shares of the company’s stock worth $102,000 after buying an additional 1,411 shares during the period. MSI Financial Services Inc boosted its stake in shares of Parexel International Corp. by 17.4% in the third quarter. MSI Financial Services Inc now owns 1,690 shares of the company’s stock worth $117,000 after buying an additional 250 shares during the period. Robecosam AG boosted its stake in shares of Parexel International Corp. by 40.1% in the second quarter. Robecosam AG now owns 2,200 shares of the company’s stock worth $132,000 after buying an additional 630 shares during the period. Paradigm Asset Management Co. LLC boosted its stake in shares of Parexel International Corp. by 683.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,350 shares of the company’s stock worth $148,000 after buying an additional 2,050 shares during the period. Finally, Advisor Group Inc. purchased a new stake in shares of Parexel International Corp. during the second quarter worth about $177,000. Institutional investors own 95.46% of the company’s stock.
Parexel International Corp. Company Profile
PAREXEL International Corporation (PAREXEL) is a biopharmaceutical outsourcing services company, which provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and advanced technology products and services to the pharmaceutical, biotechnology and medical device industries across the world.
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