Nuveen Asset Management LLC Takes Position in PRA Health Sciences, Inc. (PRAH)

Nuveen Asset Management LLC acquired a new stake in shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,519 shares of the medical research company’s stock, valued at approximately $360,000.

A number of other hedge funds have also recently made changes to their positions in PRAH. First Bank & Trust raised its position in PRA Health Sciences by 1.7% in the first quarter. First Bank & Trust now owns 3,159 shares of the medical research company’s stock valued at $206,000 after buying an additional 54 shares during the period. State Board of Administration of Florida Retirement System raised its position in PRA Health Sciences by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,892 shares of the medical research company’s stock valued at $1,428,000 after buying an additional 140 shares during the period. Forward Management LLC raised its position in PRA Health Sciences by 5.0% in the first quarter. Forward Management LLC now owns 4,762 shares of the medical research company’s stock valued at $310,000 after buying an additional 226 shares during the period. 1st Global Advisors Inc. raised its position in PRA Health Sciences by 2.2% in the first quarter. 1st Global Advisors Inc. now owns 11,265 shares of the medical research company’s stock valued at $735,000 after buying an additional 238 shares during the period. Finally, Legal & General Group Plc raised its position in PRA Health Sciences by 7.1% in the first quarter. Legal & General Group Plc now owns 9,943 shares of the medical research company’s stock valued at $649,000 after buying an additional 663 shares during the period. 96.76% of the stock is owned by hedge funds and other institutional investors.

Shares of PRA Health Sciences, Inc. (PRAH) opened at 74.76 on Friday. PRA Health Sciences, Inc. has a 52-week low of $48.42 and a 52-week high of $80.99. The firm has a 50-day moving average price of $75.23 and a 200-day moving average price of $67.94. The firm has a market capitalization of $4.68 billion, a P/E ratio of 48.26 and a beta of 0.45.

PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings data on Monday, August 7th. The medical research company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.10. PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The business had revenue of $457.90 million during the quarter, compared to the consensus estimate of $447.79 million. During the same period in the previous year, the business posted $0.63 earnings per share. PRA Health Sciences’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that PRA Health Sciences, Inc. will post $3.19 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Nuveen Asset Management LLC Takes Position in PRA Health Sciences, Inc. (PRAH)” was reported by BNB Daily and is the property of of BNB Daily. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/nuveen-asset-management-llc-buys-new-stake-in-pra-health-sciences-inc-prah-updated-updated.html.

Several research firms have recently commented on PRAH. Citigroup Inc. reaffirmed a “buy” rating and set a $90.00 target price (up from $73.00) on shares of PRA Health Sciences in a report on Wednesday, June 28th. Jefferies Group LLC upped their target price on PRA Health Sciences from $72.00 to $72.50 and gave the company a “buy” rating in a report on Friday, April 28th. Raymond James Financial, Inc. started coverage on PRA Health Sciences in a report on Wednesday. They issued an “outperform” rating and a $89.00 price objective for the company. SunTrust Banks, Inc. reissued a “buy” rating on shares of PRA Health Sciences in a report on Wednesday, August 9th. Finally, Robert W. Baird increased their price objective on PRA Health Sciences from $82.00 to $83.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $81.22.

In other PRA Health Sciences news, CEO Colin Shannon sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $29,940,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $711,075,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,000,000 shares of company stock worth $748,500,000. Insiders own 2.10% of the company’s stock.

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.

Institutional Ownership by Quarter for PRA Health Sciences (NASDAQ:PRAH)

Receive News & Ratings for PRA Health Sciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PRA Health Sciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply