UBS Group Initiates Coverage on PRA Health Sciences (PRAH)

Equities research analysts at UBS Group assumed coverage on shares of PRA Health Sciences (NASDAQ:PRAH) in a report issued on Tuesday, The Fly reports. The firm set a “neutral” rating on the medical research company’s stock.

A number of other research analysts have also recently weighed in on the company. Evercore ISI began coverage on PRA Health Sciences in a research report on Thursday, October 4th. They set an “inline” rating and a $120.00 price objective on the stock. Robert W. Baird lifted their price objective 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. BidaskClub raised PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Mizuho set a $100.00 price objective on PRA Health Sciences and gave the company a “hold” rating in a research report on Monday, August 6th. Finally, SunTrust Banks lifted their price objective on PRA Health Sciences from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $110.50.

PRAH stock opened at $104.38 on Tuesday. PRA Health Sciences has a twelve month low of $76.39 and a twelve month high of $112.88. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $7.09 billion, a PE ratio of 32.62, a P/E/G ratio of 1.67 and a beta of 0.51.

PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data on Wednesday, August 1st. The medical research company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.12. PRA Health Sciences had a return on equity of 24.52% and a net margin of 4.25%. The firm had revenue of $722.84 million for the quarter, compared to analysts’ expectations of $706.57 million. During the same period in the previous year, the firm earned $0.79 EPS. The business’s quarterly revenue was up 35.4% on a year-over-year basis. As a group, equities analysts forecast that PRA Health Sciences will post 3.89 earnings per share for the current fiscal year.

In related news, major shareholder Pra Investors L.P. Kkr sold 6,500,000 shares of PRA Health Sciences stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $101.01, for a total transaction of $656,565,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.85% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Lido Advisors LLC bought a new stake in PRA Health Sciences during the 2nd quarter valued at approximately $322,000. State of Wisconsin Investment Board increased its stake in PRA Health Sciences by 8.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 126,385 shares of the medical research company’s stock worth $11,799,000 after acquiring an additional 9,914 shares during the last quarter. Carnegie Capital Asset Management LLC increased its stake in PRA Health Sciences by 0.9% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 59,966 shares of the medical research company’s stock worth $6,083,000 after acquiring an additional 556 shares during the last quarter. Mount Yale Investment Advisors LLC increased its stake in PRA Health Sciences by 103.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 1,704 shares of the medical research company’s stock worth $159,000 after acquiring an additional 867 shares during the last quarter. Finally, State Treasurer State of Michigan bought a new stake in PRA Health Sciences in the 2nd quarter worth approximately $1,736,000. 98.82% of the stock is currently owned by institutional investors.

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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