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

PRA Health Sciences Inc (NASDAQ:PRAH) was the target of a large growth in short interest in the month of 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 company’s stock are short sold. Based on an average daily trading volume, of 609,200 shares, the days-to-cover ratio is presently 3.6 days.

NASDAQ PRAH traded up $2.01 on Thursday, reaching $94.49. The stock had a trading volume of 22,529 shares, compared to its average volume of 619,701. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.99 and a current ratio of 0.99. PRA Health Sciences has a 12-month low of $82.12 and a 12-month high of $121.98. The company’s 50-day moving average is $98.26. The firm has a market capitalization of $6.11 billion, a PE ratio of 24.04, a P/E/G ratio of 1.29 and a beta of 1.12.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Motco increased its holdings 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 valued at $31,000 after purchasing an additional 253 shares during the period. Pearl River Capital LLC acquired a new position in PRA Health Sciences during the second quarter worth $40,000. Financial Gravity Wealth Inc. acquired a new position in PRA Health Sciences during the first quarter worth $53,000. Steward Partners Investment Advisory LLC acquired a new position in PRA Health Sciences during the second quarter worth $49,000. Finally, Manchester Capital Management LLC acquired a new position in PRA Health Sciences during the first quarter worth $57,000. Institutional investors own 97.98% of the company’s stock.

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

PRA Health Sciences Company Profile

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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