Frontier Capital Management Co. LLC bought a new stake in PRA Health Sciences Inc (NASDAQ:PRAH) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 709,009 shares of the medical research company’s stock, valued at approximately $78,126,000. Frontier Capital Management Co. LLC owned about 1.10% of PRA Health Sciences as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System lifted its holdings in PRA Health Sciences by 17.0% during the 3rd quarter. Arizona State Retirement System now owns 41,136 shares of the medical research company’s stock worth $4,533,000 after purchasing an additional 5,992 shares during the last quarter. Price Capital Management Inc. acquired a new position in shares of PRA Health Sciences during the 3rd quarter worth $121,000. Kendall Capital Management acquired a new position in shares of PRA Health Sciences during the 3rd quarter worth $965,000. State Treasurer State of Michigan raised its holdings in shares of PRA Health Sciences by 15.1% during the 3rd quarter. State Treasurer State of Michigan now owns 21,400 shares of the medical research company’s stock worth $2,358,000 after buying an additional 2,800 shares in the last quarter. Finally, First National Bank of Hutchinson raised its holdings in shares of PRA Health Sciences by 34.8% during the 3rd quarter. First National Bank of Hutchinson now owns 9,690 shares of the medical research company’s stock worth $1,068,000 after buying an additional 2,501 shares in the last quarter.
Shares of NASDAQ PRAH traded up $1.01 during trading hours on Thursday, hitting $98.23. The company’s stock had a trading volume of 252,570 shares, compared to its average volume of 508,570. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $6.32 billion, a PE ratio of 30.70, a PEG ratio of 1.41 and a beta of 0.73. PRA Health Sciences Inc has a 12 month low of $79.00 and a 12 month high of $112.88.
PRA Health Sciences (NASDAQ:PRAH) last posted its earnings results on Wednesday, October 31st. The medical research company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.06. PRA Health Sciences had a return on equity of 25.75% and a net margin of 2.37%. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $729.63 million. During the same period last year, the firm earned $0.88 earnings per share. PRA Health Sciences’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, equities research analysts anticipate that PRA Health Sciences Inc will post 3.93 earnings per share for the current year.
A number of brokerages recently weighed in on PRAH. Credit Suisse Group boosted their price objective on PRA Health Sciences from $104.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, August 2nd. Mizuho set a $100.00 price target on PRA Health Sciences and gave the company a “hold” rating in a research report on Monday, August 6th. Barclays upped their price target on PRA Health Sciences from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, August 2nd. BidaskClub upgraded PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Finally, Robert W. Baird upped their target price on PRA Health Sciences from $112.00 to $116.00 and gave the company an “outperform” rating in a research report on Tuesday, September 11th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $111.50.
About PRA Health Sciences
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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