New York-based buyout firm Kohlberg Kravis Roberts & Co. Fund Holdings L.P. has sold 7.5 million shares of Raleigh-based PRA Health Sciences, according to a filing with the Securities and Exchange Commission.

KKR sold the 7.5 million shares at a price of $55.51 each, profiting approximately $416.32 million from the sale. The firm now owns 22.7 million shares of PRA.

The sale took place on Nov. 16.

PRA Health Sciences is a contract research organization that specializes in producing, testing and developing pharmaceutical drugs.

PRA’s own Chief Executive Officer Colin Shannon sold 113,133 shares of PRA stock back on Aug. 22 at an average price of $51.57. He profited nearly $5.8 million from the sale.

The company has provided investors with a return on equity, or ROE, of 11.6 percent over the past year, a stark contrast with the industry average of 26.75 percent.

In its most recent quarter, PRA Health Sciences reported revenue of $399.80 million, beating analysts’ estimates of $394.87 million. Its earnings per share also met analysts’ expectations at 64 cents per share.

Shares of PRA Health Sciences were trading at $54.17 on the morning of Nov. 21, down 43 cents, or 0.79 percent.

The form can be found here.