Norges Bank Acquires Shares of 578,816 PRA Health Sciences Inc (PRAH)

Norges Bank acquired a new stake in shares of PRA Health Sciences Inc (NASDAQ:PRAH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 578,816 shares of the medical research company’s stock, valued at approximately $53,228,000. Norges Bank owned about 0.89% of PRA Health Sciences at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Tekla Capital Management LLC increased its holdings in shares of PRA Health Sciences by 117.1% in the 4th quarter. Tekla Capital Management LLC now owns 70,460 shares of the medical research company’s stock worth $6,480,000 after purchasing an additional 38,000 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of PRA Health Sciences by 20.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 13,907 shares of the medical research company’s stock worth $1,532,000 after purchasing an additional 2,373 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of PRA Health Sciences by 2.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 8,700 shares of the medical research company’s stock worth $800,000 after purchasing an additional 240 shares in the last quarter. Fagan Associates Inc. increased its holdings in shares of PRA Health Sciences by 2.9% in the 4th quarter. Fagan Associates Inc. now owns 18,125 shares of the medical research company’s stock worth $1,667,000 after purchasing an additional 515 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of PRA Health Sciences by 52.7% in the 4th quarter. Barclays PLC now owns 38,121 shares of the medical research company’s stock worth $3,505,000 after purchasing an additional 13,162 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

A number of analysts have commented on PRAH shares. SunTrust Banks lifted their target price on PRA Health Sciences to $120.00 and gave the stock an “average” rating in a report on Monday, March 4th. BidaskClub lowered PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. ValuEngine raised PRA Health Sciences from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research lowered PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Wolfe Research started coverage on PRA Health Sciences in a report on Tuesday, April 2nd. They issued a “market perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $113.22.

NASDAQ PRAH opened at $105.57 on Thursday. The firm has a market cap of $6.92 billion, a P/E ratio of 26.86, a P/E/G ratio of 1.52 and a beta of 1.12. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.03. PRA Health Sciences Inc has a fifty-two week low of $79.20 and a fifty-two week high of $121.98.

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PRA Health Sciences Company Profile

PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries worldwide. The company 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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