Important Rating: Wells Fargo Reports Downgrade of Parexel International (NASDAQ:PRXL) from Outperform to Market Perform Rating

November 23, 2016 - By Peter Kolinski

Important Rating: Wells Fargo Reports Downgrade of Parexel International (NASDAQ:PRXL) from Outperform to Market Perform Rating

Parexel International (NASDAQ:PRXL) Downgrade

Parexel International (NASDAQ:PRXL)‘s stock was decreased to a Market Perform by investment analysts at Wells Fargo. PRXL’s Outperform rating is no longer valid.

PAREXEL International Corporation (NASDAQ:PRXL) Ratings Coverage

Out of 11 analysts covering Parexel International (NASDAQ:PRXL), 2 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 18% are positive. $78 is the highest target while $49 is the lowest. The $65.71 average target is 13.76% above today’s ($57.76) stock price. Parexel International has been the topic of 21 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of PAREXEL International Corporation (NASDAQ:PRXL) earned “Neutral” rating by Robert W. Baird on Thursday, October 27. William Blair downgraded PAREXEL International Corporation (NASDAQ:PRXL) on Monday, July 18 to “Market Perform” rating. Suntrust Robinson downgraded the stock to “Hold” rating in Friday, November 11 report. The firm has “Mkt Underperform” rating given on Monday, January 25 by Avondale. On Monday, March 28 the stock rating was upgraded by SunTrust to “Buy”. The firm earned “Equal-Weight” rating on Thursday, November 17 by First Analysis. As per Friday, August 7, the company rating was maintained by Deutsche Bank. The rating was maintained by Deutsche Bank on Friday, October 28 with “Hold”. The stock has “Outperform” rating given by Credit Suisse on Friday, August 7. Credit Suisse initiated PAREXEL International Corporation (NASDAQ:PRXL) rating on Tuesday, June 21. Credit Suisse has “Outperform” rating and $75 price target.

About 629,695 shares traded hands. PAREXEL International Corporation (NASDAQ:PRXL) has declined 12.36% since April 21, 2016 and is downtrending. It has underperformed by 17.69% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.16, from 1.16 in 2016Q1. The ratio dropped, as 31 funds sold all PAREXEL International Corporation shares owned while 96 reduced positions. 45 funds bought stakes while 102 increased positions. They now own 46.71 million shares or 2.30% less from 47.81 million shares in 2016Q1.

Allianz Asset Management Ag has 18,824 shares for 0% of their US portfolio. Adams Diversified Equity Fund last reported 5,900 shares in the company. Fmr Limited Liability Corp has invested 0.01% of its portfolio in PAREXEL International Corporation (NASDAQ:PRXL). Papp L Roy holds 0.8% or 53,816 shares in its portfolio. Blackrock Fund, a California-based fund reported 2.91M shares. Burney Company accumulated 9,032 shares or 0.04% of the stock. Clarivest Asset Mgmt Limited Liability Corp holds 0.13% of its portfolio in PAREXEL International Corporation (NASDAQ:PRXL) for 69,068 shares. Ladenburg Thalmann Fin Ser Incorporated last reported 0.01% of its portfolio in the stock. Moreover, Pnc Service has 0.07% invested in PAREXEL International Corporation (NASDAQ:PRXL) for 909,175 shares. Hanson And Doremus Inv Management has 33,071 shares for 0.94% of their US portfolio. Northern Tru holds 0.02% of its portfolio in PAREXEL International Corporation (NASDAQ:PRXL) for 995,788 shares. Ubs Asset Americas has 166,514 shares for 0.01% of their US portfolio. The Connecticut-based Aqr Mgmt Limited Liability has invested 0.01% in PAREXEL International Corporation (NASDAQ:PRXL). Citadel Advsr Ltd Liability Corporation, a Illinois-based fund reported 17,078 shares. Moreover, Franklin Resource Incorporated has 0.02% invested in PAREXEL International Corporation (NASDAQ:PRXL) for 549,802 shares.

Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 4 selling transactions for $570,931 net activity. Shares for $175,125 were sold by Saarony Gadi. Schultz Joshua sold $171,600 worth of stock. Holdener Eduard E. had sold 700 shares worth $44,086. On Monday, June 13 CALLOW A DANA JR sold $180,120 worth of the stock or 3,000 shares. 6,000 shares were sold by SCHNEIDER ULF I, worth $366,000 on Tuesday, May 24.

PAREXEL International Corporation is a biopharmaceutical outsourcing services company. The company has a market cap of $3.13 billion. 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. It has a 18.47 P/E ratio. The Company’s divisions include Clinical Research Services (CRS), PAREXEL Consulting Services (PC) and PAREXEL Informatics (PI).

According to Zacks Investment Research, “Parexel International Corporation is one of the largest biopharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that expedite time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. Its information technology subsidiary, Perceptive Informatics, Inc., develops and offers a portfolio of innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales.”

PRXL Company Profile

PAREXEL International Corporation (PAREXEL), incorporated on January 3, 1983, is a biopharmaceutical outsourcing services company. 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. The Company’s divisions include Clinical Research Services (CRS), PAREXEL Consulting Services (PC) and PAREXEL Informatics (PI).

More recent PAREXEL International Corporation (NASDAQ:PRXL) news were published by: Fool.com which released: “PAREXEL International Corporation’s Q1 Report Flops, Shares Sink As Much As 13%” on October 27, 2016. Also Businesswire.com published the news titled: “Bragar Eagel & Squire, P.C. Is Investigating PAREXEL International Corporation …” on November 14, 2016. Bizjournals.com‘s news article titled: “Parexel loses $160M in value after disclosing possible embezzlement” with publication date: September 01, 2016 was also an interesting one.

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