Alambic Investment Management L.P. purchased a new position in PAREXEL International Co. (NASDAQ:PRXL) during the first quarter, Holdings Channel reports. The firm purchased 23,430 shares of the medical research company’s stock, valued at approximately $1,479,000.
Several other hedge funds and other institutional investors have also modified their holdings of PRXL. Meadow Creek Investment Management LLC raised its position in shares of PAREXEL International by 7.1% in the first quarter. Meadow Creek Investment Management LLC now owns 1,980 shares of the medical research company’s stock worth $125,000 after buying an additional 132 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in shares of PAREXEL International by 7.1% in the first quarter. Glen Harbor Capital Management LLC now owns 2,520 shares of the medical research company’s stock worth $159,000 after buying an additional 168 shares in the last quarter. Elkfork Partners LLC acquired a new position in shares of PAREXEL International during the fourth quarter worth $188,000. Sawtooth Solutions LLC raised its position in shares of PAREXEL International by 12.3% in the first quarter. Sawtooth Solutions LLC now owns 3,441 shares of the medical research company’s stock worth $217,000 after buying an additional 376 shares in the last quarter. Finally, Sapphire Star Partners LP acquired a new position in shares of PAREXEL International during the fourth quarter worth $230,000. 91.44% of the stock is currently owned by institutional investors.
PAREXEL International Co. (NASDAQ:PRXL) traded down 0.04% during mid-day trading on Friday, hitting $79.15. The stock had a trading volume of 537,989 shares. PAREXEL International Co. has a one year low of $51.16 and a one year high of $80.20. The stock has a market cap of $4.02 billion, a PE ratio of 34.79 and a beta of 0.82. The firm’s 50-day moving average is $66.53 and its 200 day moving average is $64.61.
PAREXEL International (NASDAQ:PRXL) last issued its earnings results on Wednesday, May 3rd. The medical research company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $529.30 million during the quarter, compared to analyst estimates of $529.38 million. PAREXEL International had a net margin of 6.34% and a return on equity of 29.92%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. Equities research analysts expect that PAREXEL International Co. will post $3.24 EPS for the current year.
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A number of research analysts have weighed in on the company. Deutsche Bank AG lowered PAREXEL International from a “hold” rating to a “sell” rating and reduced their price target for the stock from $66.00 to $53.00 in a research note on Friday, February 3rd. Citigroup Inc lowered PAREXEL International from a “buy” rating to a “neutral” rating in a research note on Friday, February 3rd. Zacks Investment Research lowered PAREXEL International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Credit Suisse Group AG lowered PAREXEL International from an “outperform” rating to a “neutral” rating in a research note on Monday, February 6th. Finally, Jefferies Group LLC increased their price target on PAREXEL International from $64.00 to $67.00 and gave the stock a “hold” rating in a research note on Tuesday, January 24th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $71.82.
In other PAREXEL International news, SVP Sybrand Pretorius sold 8,050 shares of PAREXEL International stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $65.12, for a total transaction of $524,216.00. Following the completion of the sale, the senior vice president now owns 9,950 shares of the company’s stock, valued at approximately $647,944. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.90% of the company’s stock.
About PAREXEL International
PAREXEL International Corporation (PAREXEL) is a biopharmaceutical outsourcing services company. The Company provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and technology products and services to pharmaceutical, biotechnology and medical device industries.
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