First Mercantile Trust Co Lowers stake in PAREXEL International Corporation (PRXL)

PAREXEL International Corporation (PRXL) : First Mercantile Trust Co reduced its stake in PAREXEL International Corporation by 51.46% during the most recent quarter end. The investment management company now holds a total of 12,604 shares of PAREXEL International Corporation which is valued at $868,037 after selling 13,364 shares in PAREXEL International Corporation , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.PAREXEL International Corporation makes up approximately 0.12% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network added PRXL to its portfolio by purchasing 728 company shares during the most recent quarter which is valued at $50,137. PAREXEL International Corporation makes up approx 0.01% of Advisory Services Network’s portfolio.New England Research Management reduced its stake in PRXL by selling 16,311 shares or 78.0% in the most recent quarter. The Hedge Fund company now holds 4,600 shares of PRXL which is valued at $313,904. PAREXEL International Corporation makes up approx 0.26% of New England Research Management’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in PRXL by selling 14,279 shares or 60.12% in the most recent quarter. The Hedge Fund company now holds 9,470 shares of PRXL which is valued at $646,233.Eqis Capital Management reduced its stake in PRXL by selling 34 shares or 0.67% in the most recent quarter. The Hedge Fund company now holds 5,064 shares of PRXL which is valued at $345,567. PAREXEL International Corporation makes up approx 0.02% of Eqis Capital Management’s portfolio. Washington Trust Bank sold out all of its stake in PRXL during the most recent quarter. The investment firm sold 46 shares of PRXL which is valued $3,139.

PAREXEL International Corporation opened for trading at $68.62 and hit $69.17 on the upside on Friday, eventually ending the session at $68.87, with a gain of 0.39% or 0.27 points. The heightened volatility saw the trading volume jump to 2,91,544 shares. Company has a market cap of $3,663 M.

On the company’s financial health, PAREXEL International Corporation reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.93. The company had revenue of $538.60 million for the quarter, compared to analysts expectations of $532.59 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.

Many Wall Street Analysts have commented on PAREXEL International Corporation. Shares were Downgraded by UBS on Sep 6, 2016 to ” Neutral” and Lowered the Price Target to $ 76 from a previous price target of $82 .

PAREXEL International Corporation (PAREXEL) is a biopharmaceutical outsourcing services company which provides a range of expertise in clinical research clinical logistics medical communications consulting commercialization and advanced technology products and services to the pharmaceutical biotechnology and medical device industries across the world. The Company operates through three segments: Clinical Research Services PAREXEL Consulting Services and PAREXEL Informatics. Its product and service offerings include clinical trials management data management epidemiology health economics/outcomes research pharmacovigilance medical communications clinical pharmacology patient recruitment clinical supply and drug logistics post-marketing surveillance medical imaging services electronic data capture systems clinical trial management systems Web-based portals and other product development tools and services.

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