Wall Street analysts expect PRA Health Sciences Inc (NASDAQ:PRAH) to post sales of $695.73 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for PRA Health Sciences’ earnings. The lowest sales estimate is $693.00 million and the highest is $697.86 million. PRA Health Sciences reported sales of $427.08 million in the same quarter last year, which would suggest a positive year over year growth rate of 62.9%. The company is scheduled to issue its next quarterly earnings report on Tuesday, April 24th.
On average, analysts expect that PRA Health Sciences will report full year sales of $695.73 million for the current year, with estimates ranging from $2.90 billion to $2.95 billion. For the next financial year, analysts anticipate that the business will report sales of $3.24 billion per share, with estimates ranging from $3.20 billion to $3.29 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for PRA Health Sciences.
PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings data on Wednesday, February 21st. The medical research company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.02. The firm had revenue of $568.80 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 37.5% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS.
A number of brokerages have commented on PRAH. Zacks Investment Research upgraded PRA Health Sciences from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Thursday, January 11th. BidaskClub lowered PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $104.00 price objective (up from $101.00) on shares of PRA Health Sciences in a research report on Thursday, February 22nd. Barclays began coverage on PRA Health Sciences in a research report on Monday, December 11th. They issued an “overweight” rating and a $94.00 price objective on the stock. Finally, Mizuho lowered PRA Health Sciences from a “buy” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $95.67.
In related news, VP Linda Baddour sold 67,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $90.27, for a total transaction of $6,048,090.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David W. Dockhorn sold 72,850 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $90.83, for a total value of $6,616,965.50. Following the sale, the executive vice president now directly owns 72,850 shares in the company, valued at approximately $6,616,965.50. The disclosure for this sale can be found here. In the last three months, insiders sold 212,700 shares of company stock worth $19,282,021. 2.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of PRAH. Royal Bank of Canada raised its stake in PRA Health Sciences by 748.4% during the 2nd quarter. Royal Bank of Canada now owns 6,626 shares of the medical research company’s stock worth $496,000 after buying an additional 5,845 shares during the period. Nationwide Fund Advisors raised its stake in shares of PRA Health Sciences by 82.8% in the 3rd quarter. Nationwide Fund Advisors now owns 120,086 shares of the medical research company’s stock valued at $9,147,000 after purchasing an additional 54,385 shares during the period. Aperio Group LLC raised its stake in shares of PRA Health Sciences by 28.6% in the 3rd quarter. Aperio Group LLC now owns 3,986 shares of the medical research company’s stock valued at $304,000 after purchasing an additional 886 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of PRA Health Sciences by 15.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 33,448 shares of the medical research company’s stock valued at $2,548,000 after purchasing an additional 4,480 shares during the period. Finally, Chicago Equity Partners LLC raised its stake in shares of PRA Health Sciences by 6.2% in the 3rd quarter. Chicago Equity Partners LLC now owns 30,240 shares of the medical research company’s stock valued at $2,303,000 after purchasing an additional 1,760 shares during the period. 99.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of PRA Health Sciences (NASDAQ:PRAH) traded down $1.47 on Friday, reaching $90.70. The company’s stock had a trading volume of 567,319 shares, compared to its average volume of 454,860. The company has a market cap of $5,923.63, a price-to-earnings ratio of 68.85, a price-to-earnings-growth ratio of 1.46 and a beta of 0.46. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.90 and a quick ratio of 0.90. PRA Health Sciences has a 52-week low of $58.08 and a 52-week high of $95.90.
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About PRA Health Sciences
PRA Health Sciences, Inc is a contract research organization. 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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