Parexel sold for $5 billion to private equity firm

Price T Rowe Associates Inc Md reported 0% of its portfolio in PAREXEL International Corporation (NASDAQ:PRXL). BlackRock Group LTD raised its position in shares of PAREXEL International Corporation by 2.8% in the third quarter. 697085 shares were traded during the last session. Mitchell Capital Management Co. raised its position in shares of PAREXEL International Corporation by 616.6% in the third quarter.

Just last week, contract development and management organization Albany Molecular Research (AMRI) agreed to be acquired by affiliates of The Carlyle Group and GTCR for about $922 million cash, while JSR Life Sciences announced it would acquire mammalian cell-line development specialist Selexis, and integrate it with KBI Biopharma. 20,473 were accumulated by Northcoast Asset Management Ltd Liability Corp. BlackRock Inc. increased its position in shares of PAREXEL International Corporation by 22,876.6% in the first quarter. MA now owns 814,555 shares of the medical research company's stock worth $51,407,000 after buying an additional 52,925 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in PAREXEL International Corporation by 4.5% in the first quarter. AlphaOne also gave news coverage about the medical research company an impact score of 50 out of 100, meaning that recent news coverage is somewhat likely to have an impact on the stock's share price in the near future. On Thursday, February 9 Saarony Gadi sold $150,056 worth of PAREXEL International Corporation (NASDAQ:PRXL) or 2,325 shares. Mizuho initiated PAREXEL International Corporation (NASDAQ:PRXL) on Thursday, March 23 with "Neutral" rating. The 50 day moving average was up $8.97 whereas the 200 day moving average was up $18.66 or +27.30%. As per Friday, January 20, the company rating was maintained by RBC Capital Markets. The medical research company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.73 by $0.01. The firm had revenue of $529.30 million during the quarter, compared to analyst estimates of $529.38 million. The stock of PAREXEL International Corporation (NASDAQ:PRXL) earned "Hold" rating by Deutsche Bank on Friday, October 28.

PAREXEL International Corporation (NASDAQ:PRXL)'s RSI (Relative Strength Index) is 84.92. If you are reading this article on another domain, it was illegally copied and reposted in violation of USA & worldwide trademark & copyright legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/06/20/proshare-advisors-llc-cuts-stake-in-parexel-international-co-prxl-updated-updated-updated-updated.html.

Several research firms recently weighed in on PRXL. Clearbridge Invs Limited Liability Company holds 0.07% or 1.02M shares. The firm has "Buy" rating given on Thursday, December 17 by Goldman Sachs. Finally, Barclays PLC reiterated an "overweight" rating and issued a $87.00 target price on shares of PAREXEL International Corporation in a research report on Wednesday, May 17th.

Among 16 analysts covering Parexel International (NASDAQ:PRXL), 2 have Buy rating, 3 Sell and 11 Hold.

Currently, the analyst consensus on Parexel is Moderate Buy and the average price target is $77.75, representing a -7.4% downside.

"As our results over the past year show, the market for biopharmaceutical services is evolving", said Parexel chairman and CEO Josef von Rickenbach, in a statement. The Firm provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and technology services and products to pharmaceutical, biotechnology and medical device industries.

  • Zachary Reyes