The Analysts Set PRA Health Sciences Inc. (PRAH) Price Target at $53.50

The Analysts Set PRA Health Sciences Inc. (PRAH) Price Target at $53.50

Shares of PRA Health Sciences Inc. (NASDAQ:PRAH) have received a consensus rating of “Buy” from the eight ratings firms that are covering the company. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $53.50.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. KeyCorp reiterated a “buy” rating on shares of PRA Health Sciences in a research report on Friday, November 4th. Jefferies Group reiterated a “buy” rating on shares of PRA Health Sciences in a research report on Tuesday, September 13th. Credit Suisse Group AG reiterated a “hold” rating and set a $50.00 price objective on shares of PRA Health Sciences in a research report on Thursday, November 3rd. Finally, Citigroup Inc. boosted their price objective on shares of PRA Health Sciences from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, September 22nd.

PRA Health Sciences (NASDAQ:PRAH) opened at 55.06 on Wednesday. PRA Health Sciences has a 52 week low of $35.60 and a 52 week high of $60.96. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 42.75 and a beta of 0.61. The company has a 50 day moving average of $54.94 and a 200 day moving average of $49.68.

PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64. PRA Health Sciences had a net margin of 4.86% and a return on equity of 21.25%. The company had revenue of $399.80 million for the quarter, compared to analysts’ expectations of $394.87 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. PRA Health Sciences’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts forecast that PRA Health Sciences will post $2.47 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of PRAH. Emerald Acquisition Ltd. bought a new stake in shares of PRA Health Sciences during the second quarter worth about $23,257,000. HBK Investments L P bought a new stake in shares of PRA Health Sciences during the first quarter worth about $295,000. TIAA CREF Investment Management LLC raised its stake in shares of PRA Health Sciences by 9.9% in the first quarter. TIAA CREF Investment Management LLC now owns 94,310 shares of the company’s stock worth $4,033,000 after buying an additional 8,487 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of PRA Health Sciences by 14.5% in the first quarter. Teachers Advisors Inc. now owns 33,130 shares of the company’s stock worth $1,417,000 after buying an additional 4,198 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in shares of PRA Health Sciences during the first quarter worth about $1,232,000. 99.80% of the stock is owned by hedge funds and other institutional investors.

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