Kohlberg Kravis Roberts Lowers stake in PRA Health Sciences Inc (PRAH)

PRA Health Sciences Inc (PRAH) : Kohlberg Kravis Roberts reduced its stake in PRA Health Sciences Inc by 12.1% during the most recent quarter end. The investment management company now holds a total of 35,103,676 shares of PRA Health Sciences Inc which is valued at $1,728,856,043 after selling 4,829,981 shares in PRA Health Sciences Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.PRA Health Sciences Inc makes up approximately 16.90% of Kohlberg Kravis Roberts’s portfolio.

Other Hedge Funds, Including , Capstone Investment Advisors added PRAH to its portfolio by purchasing 5,372 company shares during the most recent quarter which is valued at $264,571. PRA Health Sciences Inc makes up approx 0.02% of Capstone Investment Advisors’s portfolio.Victory Capital Management Inc boosted its stake in PRAH in the latest quarter, The investment management firm added 597 additional shares and now holds a total of 1,369 shares of PRA Health Sciences Inc which is valued at $66,862.Neuberger Berman Group reduced its stake in PRAH by selling 54,058 shares or 52.94% in the most recent quarter. The Hedge Fund company now holds 48,053 shares of PRAH which is valued at $2,374,779.Eagle Asset Management Inc reduced its stake in PRAH by selling 66,485 shares or 6.45% in the most recent quarter. The Hedge Fund company now holds 964,943 shares of PRAH which is valued at $43,075,056. PRA Health Sciences Inc makes up approx 0.29% of Eagle Asset Management Inc’s portfolio.

PRA Health Sciences Inc opened for trading at $50.72 and hit $50.72 on the upside on Thursday, eventually ending the session at $50.56, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 5,26,423 shares. Company has a market cap of $3,081 M.

On the company’s financial health, PRA Health Sciences Inc reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.59. The company had revenue of $455.80 million for the quarter, compared to analysts expectations of $381.28 million. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on PRA Health Sciences Inc. Company shares were Downgraded by UBS on Sep 6, 2016 to ” Neutral”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Credit Suisse Initiated PRA Health Sciences Inc on Jun 21, 2016 to “Neutral”, Price Target of the shares are set at $43.First Analysis Sec Initiated PRA Health Sciences Inc on Jun 21, 2016 to “Equal-Weight”, Price Target of the shares are set at $47.

PRA Health Sciences Inc. is a contract research organization (CRO). The Company provides outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in areas of pharmaceutical development including oncology central nervous system inflammation and infectious diseases. The Company performs an array of services across the spectrum of clinical development programs from the filing of investigational new drug (INDs) and similar regulatory applications to conducting all phases of clinical trials. Its service offerings include Product Registration Services which includes Phase IIb through III product registration trials and Phase IV trials inclusive of post-marketing commitments and registries; Strategic Solutions which provides Embedded Solutions and functional outsourcing services and Early Development Services which includes Phase I through Phase IIa clinical trials and bioanalytical laboratory services.

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