June 20, 2017, 09:24:00 AM EDT By Zacks Equity Research, Zacks.com

Leading global contract research organization PRA Health Sciences recently announced a partnership with Jumo, a global provider of educational health care information. Notably, the deal was signed as part of PRA Health’s new ‘Center for Pediatric Clinical Development’ initiative, which was announced in May.

Meanwhile, PRA Health carries a Zacks Rank #3 (Hold).

With a solid background in conducting pediatric clinical trials, the latest development is likely to bolster the company’s footprint in the niche space. Per management, PRA Health can leverage on Jumo’s solid education-information system to bridge the gap between caregivers and patients while conducting pediatric clinical trials.‍

Impressive Stock Performance

Shares of PRA Health rallied 2.3% to close at $75.50 following the news release. Additionally, a long-term expected earnings growth rate of almost 19% indicates solid chances of higher return from the stock in the near future.

Meanwhile, over the last one month, the stock has had an impressive run on the bourse, gaining 6.2%, higher than the Zacks categorized Medical Services Market’s gain of 4.9%.

Bottom Line

Undoubtedly, the latest development reflects PRA Health’s initiatives to enhance the operating facilities of its new wing – Center for Pediatric Clinical Development.

In this regard, the Center for Pediatric Clinical Development is supported by a cross-functional group of experts to provide strategic pediatric product development, consulting, technical and operational services.

We believe that the company can soon scale to the position of a single global resource unit that can cover all aspects of patient needs related to pediatric products. In this regard, PRA Health was named the Clinical Research Company of the Year by PharmaTimes in May. Notably, this marked the fifth consecutive prestigious recognition for the company with respect to pediatrics.

KeyPicks

Some better-ranked stocks in the broader medical sector include Inogen Inc. INGN , Luminex Corporation LMNX and IDEXX Laboratories, Inc. IDXX . Notably, Inogen and Luminex Laboratories sport a Zacks Rank #1 (Strong Buy), while IDEXX carries a Zacks Rank #2 (Buy). Some better-ranked stocks in the broader medical sector include Inogen Inc. INGN , Luminex Corporation LMNX and IDEXX Laboratories, Inc. IDXX . Notably, Inogen and Luminex Laboratories sport a Zacks Rank #1 (Strong Buy), while IDEXX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Inogen has a long-term expected earnings growth rate of 17.50%. Notably, the stock represents an impressive one-year return of 104.9%.

Luminex has a long-term expected earnings growth rate of 16.3%. The stock posted a positive earnings surprise of 237.5% in the last reported quarter.

IDEXX Laboratories has a long-term expected earnings growth rate of 19.37%. Additionally, the stock represents an impressive one-year return of 83%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.