We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PRA Health Sciences (PRAH) Hits 52-Week High on Solid Q2
Read MoreHide Full Article
Share price of PRA Health Sciences rallied to a new 52-week high of $52.72 on Aug 23, eventually closing a tad bit higher at $52.59. This represents an impressive one-year return of approximately 42%, better than the S&P 500’s 17.1% over the same period.
Currently, PRA Health Sciences holds a Zacks Rank #3 (Hold). Notably, the stock has a market cap of $3.15 billion.
Catalysts
PRA Health Sciences reported an impressive second quarter of 2016 with revenues totaling $456 million, a 16% increase over the prior-year quarter and above the Zacks Consensus Estimate of $382 million.
Notably, adjusted earnings of 61 cents per share beat the Zacks Consensus Estimate by 3 cents and were up 41.8% on a year-over-year basis.
Service revenues at PRA Health Sciences were the key driver of the stellar second-quarter performance, as it represented growth of 17.2% on a year-over-year basis, totaling $394.2 million (actual foreign rates). However, at constant currency, it surged 17.3%.
The company is also striving to effectively manage overhead functions and cut down expenses. Notably, backlog increased approximately 4% year over year in the reported quarter to approximately $2.6 billion. PRA Health Sciences posted adjusted EBITDA of $73.3 million in the second quarter, up 19.6% on a year-over-year basis.
Estimate Revisions
The Zacks Consensus Estimate for fiscal 2016 increased by a couple of cents to $2.40 over the last 30 days. Similarly, for fiscal 2017, estimates have scaled 4 cents to $2.78 over the same time frame.
Key Sector Picks
Better-ranked stocks in the broader medical sector include CryoLife Inc. , Masimo Corporation (MASI - Free Report) and NuVasive Inc. . Notably, all the three stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PRA Health Sciences (PRAH) Hits 52-Week High on Solid Q2
Share price of PRA Health Sciences rallied to a new 52-week high of $52.72 on Aug 23, eventually closing a tad bit higher at $52.59. This represents an impressive one-year return of approximately 42%, better than the S&P 500’s 17.1% over the same period.
Currently, PRA Health Sciences holds a Zacks Rank #3 (Hold). Notably, the stock has a market cap of $3.15 billion.
Catalysts
PRA Health Sciences reported an impressive second quarter of 2016 with revenues totaling $456 million, a 16% increase over the prior-year quarter and above the Zacks Consensus Estimate of $382 million.
Notably, adjusted earnings of 61 cents per share beat the Zacks Consensus Estimate by 3 cents and were up 41.8% on a year-over-year basis.
PRA HEALTH SCI Price and Consensus
PRA HEALTH SCI Price and Consensus | PRA HEALTH SCI Quote
Service revenues at PRA Health Sciences were the key driver of the stellar second-quarter performance, as it represented growth of 17.2% on a year-over-year basis, totaling $394.2 million (actual foreign rates). However, at constant currency, it surged 17.3%.
The company is also striving to effectively manage overhead functions and cut down expenses. Notably, backlog increased approximately 4% year over year in the reported quarter to approximately $2.6 billion. PRA Health Sciences posted adjusted EBITDA of $73.3 million in the second quarter, up 19.6% on a year-over-year basis.
Estimate Revisions
The Zacks Consensus Estimate for fiscal 2016 increased by a couple of cents to $2.40 over the last 30 days. Similarly, for fiscal 2017, estimates have scaled 4 cents to $2.78 over the same time frame.
Key Sector Picks
Better-ranked stocks in the broader medical sector include CryoLife Inc. , Masimo Corporation (MASI - Free Report) and NuVasive Inc. . Notably, all the three stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>