Prudential Financial Inc. boosted its position in PRA Health Sciences Inc. (NASDAQ:PRAH) by 1,591.3% during the second quarter, Holdings Channel reports. The institutional investor owned 93,530 shares of the company’s stock after buying an additional 88,000 shares during the period. Prudential Financial Inc. owned approximately 0.15% of PRA Health Sciences worth $3,906,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in PRAH. BlackRock Fund Advisors boosted its position in PRA Health Sciences by 6.1% in the first quarter. BlackRock Fund Advisors now owns 1,264,793 shares of the company’s stock worth $54,083,000 after buying an additional 72,562 shares in the last quarter. UBS Group AG boosted its position in PRA Health Sciences by 7.7% in the first quarter. UBS Group AG now owns 50,636 shares of the company’s stock worth $2,165,000 after buying an additional 3,621 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in PRA Health Sciences during the second quarter worth approximately $23,257,000. HBK Investments L P purchased a new position in PRA Health Sciences during the first quarter worth approximately $295,000. Finally, TIAA CREF Investment Management LLC boosted its position in PRA Health Sciences by 9.9% in the first quarter. TIAA CREF Investment Management LLC now owns 94,310 shares of the company’s stock worth $4,033,000 after buying an additional 8,487 shares in the last quarter.
Shares of PRA Health Sciences Inc. (NASDAQ:PRAH) opened at 55.30 on Wednesday. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 47.43 and a beta of 0.53. PRA Health Sciences Inc. has a 12-month low of $33.00 and a 12-month high of $58.52. The stock has a 50 day moving average of $54.04 and a 200 day moving average of $48.30.
PRA Health Sciences (NASDAQ:PRAH) last issued its earnings results on Thursday, July 28th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. The business earned $394.20 million during the quarter, compared to analysts’ expectations of $381.25 million. PRA Health Sciences had a net margin of 4.53% and a return on equity of 20.47%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. Analysts forecast that PRA Health Sciences Inc. will post $2.47 earnings per share for the current year.
PRAH has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of PRA Health Sciences from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a research note on Wednesday, October 5th. Citigroup Inc. boosted their price objective on shares of PRA Health Sciences from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, September 22nd. Finally, Jefferies Group reissued a “buy” rating on shares of PRA Health Sciences in a research report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $51.61.
In other news, VP David W. Dockhorn sold 107,257 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $49.00, for a total value of $5,255,593.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Colin Shannon sold 113,133 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $51.57, for a total transaction of $5,834,268.81. Following the completion of the sale, the chief executive officer now owns 120,000 shares of the company’s stock, valued at $6,188,400. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
About PRA Health Sciences
PRA Health Sciences, Inc is a contract research organization (CRO). 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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