PAREXEL International Corporation (PRXL) is Downgraded by Wells Fargo to Market Perform

PAREXEL International Corporation (PRXL) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Nov 23, 2016.

Many Wall Street Analysts have commented on PAREXEL International Corporation. First Analysis Sec Downgraded PAREXEL International Corporation on Nov 17, 2016 to ” Equal-Weight”, Price Target of the shares are set at $62.PAREXEL International Corporation was Downgraded by SunTrust to ” Hold” on Nov 11, 2016. Shares were Reiterated by Deutsche Bank on Oct 28, 2016 to “Hold” and Lowered the Price Target to $ 65 from a previous price target of $71 .

On the company’s financial health, PAREXEL International Corporation reported $0.76 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus of $0.86. The company had revenue of $500.90 million for the quarter, compared to analysts expectations of $524.75 million. The company’s revenue was down -2.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.70 EPS.

PAREXEL International Corporation opened for trading at $56.31 and hit $57.4 on the upside on Monday, eventually ending the session at $57.26, with a gain of 1.40% or 0.79 points. The heightened volatility saw the trading volume jump to 8,80,915 shares. Company has a market cap of $3,050 M.

In a different news, on Aug 16, 2016, Gadi Saarony (Senior Vice President, CRS) sold 2,500 shares at $70.05 per share price. According to the SEC, on Aug 10, 2016, Joshua Schultz (SVP, PAREXEL Access) sold 2,500 shares at $68.64 per share price. On Jun 14, 2016, A Dana Jr Callow (director) sold 3,000 shares at $60.04 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

PAREXEL International Corporation

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