D. E. Shaw & Co. Inc. Purchases New Position in PRA Health Sciences, Inc. (NASDAQ:PRAH)

D. E. Shaw & Co. Inc. purchased a new stake in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 468,559 shares of the medical research company’s stock, valued at approximately $71,844,000.

A number of other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in PRA Health Sciences by 15.3% during the first quarter. International Assets Investment Management LLC now owns 565 shares of the medical research company’s stock valued at $72,000 after acquiring an additional 75 shares in the last quarter. First Horizon Corp increased its position in shares of PRA Health Sciences by 5.6% in the first quarter. First Horizon Corp now owns 1,932 shares of the medical research company’s stock valued at $296,000 after buying an additional 102 shares in the last quarter. M&T Bank Corp increased its position in shares of PRA Health Sciences by 5.2% in the first quarter. M&T Bank Corp now owns 2,066 shares of the medical research company’s stock valued at $317,000 after buying an additional 103 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of PRA Health Sciences by 0.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,532 shares of the medical research company’s stock valued at $3,302,000 after buying an additional 110 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of PRA Health Sciences by 4.6% in the first quarter. Bessemer Group Inc. now owns 2,511 shares of the medical research company’s stock valued at $385,000 after buying an additional 110 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

A number of research firms have recently commented on PRAH. Zacks Investment Research upgraded PRA Health Sciences from a “sell” rating to a “hold” rating and set a $160.00 price objective for the company in a research report on Tuesday, March 30th. Robert W. Baird restated a “neutral” rating and issued a $165.00 price objective on shares of PRA Health Sciences in a research report on Monday, April 26th. Credit Suisse Group boosted their price objective on PRA Health Sciences from $159.00 to $169.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. Truist cut PRA Health Sciences from a “buy” rating to a “hold” rating and dropped their price target for the stock from $196.00 to $175.00 in a research report on Monday, May 10th. Finally, Truist Securities reiterated a “hold” rating and set a $175.00 price target (down from $196.00) on shares of PRA Health Sciences in a research report on Monday, May 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $146.67.

NASDAQ PRAH opened at $165.21 on Thursday. The stock’s fifty day moving average is $168.51. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 50.52 and a beta of 1.31. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.21 and a quick ratio of 1.21. PRA Health Sciences, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $175.95.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings data on Wednesday, April 28th. The medical research company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.03. The company had revenue of $933.78 million for the quarter, compared to analyst estimates of $863.45 million. PRA Health Sciences had a return on equity of 20.49% and a net margin of 6.40%. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. On average, equities research analysts predict that PRA Health Sciences, Inc. will post 5.28 earnings per share for the current fiscal year.

In other PRA Health Sciences news, CFO Michael J. Bonello sold 2,048 shares of the business’s stock in a transaction on Monday, April 26th. The stock was sold at an average price of $166.77, for a total transaction of $341,544.96. Following the transaction, the chief financial officer now owns 19,228 shares of the company’s stock, valued at $3,206,653.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Colin Shannon sold 143,303 shares of the business’s stock in a transaction on Tuesday, June 15th. The stock was sold at an average price of $168.30, for a total value of $24,117,894.90. Following the transaction, the chief executive officer now directly owns 197,929 shares in the company, valued at approximately $33,311,450.70. The disclosure for this sale can be found here. Insiders have sold 619,396 shares of company stock worth $104,412,847 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

PRA Health Sciences Profile

PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries worldwide. It 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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Institutional Ownership by Quarter for PRA Health Sciences (NASDAQ:PRAH)

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