Brokerages expect PRA Health Sciences, Inc. (NASDAQ:PRAH) to report $828.52 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for PRA Health Sciences’ earnings. The lowest sales estimate is $825.13 million and the highest is $837.50 million. PRA Health Sciences reported sales of $800.24 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The business is expected to announce its next earnings report after the market closes on Thursday, February 25th.
On average, analysts expect that PRA Health Sciences will report full year sales of $3.14 billion for the current fiscal year, with estimates ranging from $3.14 billion to $3.15 billion. For the next year, analysts expect that the firm will report sales of $3.53 billion, with estimates ranging from $3.40 billion to $3.65 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow PRA Health Sciences.
A number of brokerages have commented on PRAH. Robert W. Baird upped their target price on shares of PRA Health Sciences from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, January 21st. Credit Suisse Group upped their target price on shares of PRA Health Sciences from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $109.18.
PRAH stock traded up $0.43 during midday trading on Tuesday, hitting $127.73. The company’s stock had a trading volume of 250,863 shares, compared to its average volume of 281,116. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 2.26 and a beta of 1.24. The company has a 50 day moving average of $127.43 and a two-hundred day moving average of $113.29. PRA Health Sciences has a 12 month low of $58.67 and a 12 month high of $137.88.
In other PRA Health Sciences news, CAO Christopher L. Gaenzle sold 3,136 shares of the firm’s stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $130.04, for a total value of $407,805.44. Following the completion of the sale, the chief accounting officer now directly owns 34,500 shares in the company, valued at $4,486,380. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael J. Bonello sold 33,372 shares of the firm’s stock in a transaction that occurred on Thursday, December 17th. The shares were sold at an average price of $120.12, for a total transaction of $4,008,644.64. Following the completion of the sale, the chief financial officer now owns 54,648 shares of the company’s stock, valued at $6,564,317.76. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of PRAH. Amundi Pioneer Asset Management Inc. raised its holdings in shares of PRA Health Sciences by 338.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 6,997 shares of the medical research company’s stock worth $772,000 after buying an additional 5,400 shares during the last quarter. IBM Retirement Fund purchased a new position in shares of PRA Health Sciences in the third quarter worth $208,000. Louisiana State Employees Retirement System raised its holdings in shares of PRA Health Sciences by 0.6% in the third quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the medical research company’s stock worth $1,623,000 after buying an additional 100 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of PRA Health Sciences in the third quarter worth $1,558,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of PRA Health Sciences in the third quarter worth $133,000. 96.14% of the stock is owned by institutional investors and hedge funds.
PRA Health Sciences Company Profile
PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution 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.
Further Reading: How a Strangle Strategy is different from a Straddle Strategy
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PRA Health Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PRA Health Sciences and related companies with MarketBeat.com's FREE daily email newsletter.