Short Interest in PRA Health Sciences Inc (NASDAQ:PRAH) Rises By 19.8%

PRA Health Sciences Inc (NASDAQ:PRAH) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 2,193,000 shares, a growth of 19.8% from the June 30th total of 1,830,800 shares. Currently, 3.7% of the shares of the stock are short sold. Based on an average trading volume of 609,200 shares, the days-to-cover ratio is presently 3.6 days.

PRA Health Sciences stock traded down $3.11 during midday trading on Wednesday, hitting $92.83. 383,196 shares of the stock were exchanged, compared to its average volume of 549,851. The firm has a fifty day moving average price of $98.26. PRA Health Sciences has a 52 week low of $82.12 and a 52 week high of $121.98. The stock has a market capitalization of $6.11 billion, a PE ratio of 23.62, a PEG ratio of 1.32 and a beta of 1.12. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.99 and a quick ratio of 0.99.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings data on Wednesday, July 31st. The medical research company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. PRA Health Sciences had a net margin of 5.39% and a return on equity of 26.64%. The business had revenue of $763.31 million for the quarter, compared to analyst estimates of $764.95 million. During the same quarter last year, the firm earned $1.00 EPS. PRA Health Sciences’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts forecast that PRA Health Sciences will post 4.63 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in PRAH. Motco lifted its position in shares of PRA Health Sciences by 937.0% in the first quarter. Motco now owns 280 shares of the medical research company’s stock worth $31,000 after purchasing an additional 253 shares in the last quarter. Pearl River Capital LLC bought a new stake in shares of PRA Health Sciences in the second quarter worth $40,000. Financial Gravity Wealth Inc. bought a new stake in shares of PRA Health Sciences in the first quarter worth $53,000. Steward Partners Investment Advisory LLC bought a new stake in shares of PRA Health Sciences in the second quarter worth $49,000. Finally, Manchester Capital Management LLC bought a new stake in shares of PRA Health Sciences in the first quarter worth $57,000. 97.98% of the stock is currently owned by hedge funds and other institutional investors.

PRAH has been the subject of several research reports. Mizuho set a $100.00 price objective on shares of PRA Health Sciences and gave the company a “hold” rating in a research report on Friday, May 3rd. BidaskClub upgraded shares of PRA Health Sciences from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Leerink Swann began coverage on shares of PRA Health Sciences in a research report on Tuesday, July 2nd. They set a “market perform” rating and a $105.00 price target for the company. Finally, Svb Leerink reiterated a “market perform” rating on shares of PRA Health Sciences in a research report on Tuesday, July 2nd. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $113.40.

About PRA Health Sciences

PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries worldwide. The company operates in two segments, Clinical Research and Data Solutions. The Clinical Research segment offers product registration services, including clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services.

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