Fred Alger Management Inc. boosted its position in shares of PRA Health Sciences (NASDAQ:PRAH) by 17.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,974 shares of the medical research company’s stock after buying an additional 16,027 shares during the quarter. Fred Alger Management Inc. owned 0.17% of PRA Health Sciences worth $9,833,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Magnetar Financial LLC bought a new position in PRA Health Sciences during the third quarter valued at about $5,010,000. Jennison Associates LLC lifted its holdings in shares of PRA Health Sciences by 238.6% during the fourth quarter. Jennison Associates LLC now owns 11,202 shares of the medical research company’s stock valued at $1,020,000 after purchasing an additional 7,894 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of PRA Health Sciences during the fourth quarter valued at $439,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PRA Health Sciences by 82.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,069 shares of the medical research company’s stock valued at $279,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of PRA Health Sciences during the fourth quarter valued at $401,000. 99.22% of the stock is owned by institutional investors and hedge funds.
In related news, VP Linda Baddour sold 67,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $90.27, for a total value of $6,048,090.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.
PRA Health Sciences stock traded down $1.72 during mid-day trading on Monday, hitting $81.24. The company’s stock had a trading volume of 409,171 shares, compared to its average volume of 435,758. The company has a market cap of $5,292.10, a P/E ratio of 25.93, a P/E/G ratio of 1.30 and a beta of 0.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.31. PRA Health Sciences has a 52-week low of $61.93 and a 52-week high of $95.90.
PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings data on Wednesday, February 21st. The medical research company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $568.80 million during the quarter, compared to the consensus estimate of $543.78 million. PRA Health Sciences had a return on equity of 22.77% and a net margin of 3.85%. The business’s revenue for the quarter was up 37.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. equities analysts forecast that PRA Health Sciences will post 3.81 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $104.00 target price (up from $101.00) on shares of PRA Health Sciences in a report on Thursday, February 22nd. KeyCorp reaffirmed a “buy” rating and set a $100.00 target price on shares of PRA Health Sciences in a report on Wednesday, January 31st. Zacks Investment Research raised PRA Health Sciences from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Wednesday, January 17th. BidaskClub raised PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 13th. Finally, Mizuho downgraded PRA Health Sciences from a “buy” rating to a “neutral” rating and set a $86.00 target price for the company. in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. PRA Health Sciences currently has a consensus rating of “Buy” and a consensus price target of $95.67.
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PRA Health Sciences Company Profile
PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development 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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