PRA Health Sciences Inc (NASDAQ:PRAH) Short Interest Update

PRA Health Sciences Inc (NASDAQ:PRAH) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,120,000 shares, an increase of 9.3% from the September 30th total of 1,940,000 shares. Currently, 3.4% of the shares of the stock are sold short. Based on an average daily volume of 500,400 shares, the days-to-cover ratio is currently 4.2 days.

Shares of PRAH stock traded up $0.88 during trading hours on Friday, hitting $105.49. 337,600 shares of the company’s stock were exchanged, compared to its average volume of 533,126. The company has a market capitalization of $6.44 billion, a PE ratio of 26.84, a PEG ratio of 1.38 and a beta of 1.11. PRA Health Sciences has a 12-month low of $82.12 and a 12-month high of $121.98. The business’s 50 day simple moving average is $98.80 and its 200-day simple moving average is $97.12. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.65.

PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.29 by $0.03. The firm had revenue of $780.70 million for the quarter, compared to the consensus estimate of $771.64 million. PRA Health Sciences had a net margin of 8.00% and a return on equity of 27.73%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. Equities analysts anticipate that PRA Health Sciences will post 4.6 EPS for the current year.

Several equities research analysts have issued reports on PRAH shares. Goldman Sachs Group started coverage on shares of PRA Health Sciences in a research report on Thursday, September 19th. They set a “buy” rating and a $126.00 target price for the company. BidaskClub lowered shares of PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 27th. Wolfe Research upgraded shares of PRA Health Sciences from a “peer perform” rating to an “outperform” rating and set a $123.00 target price for the company in a research report on Thursday. Zacks Investment Research lowered shares of PRA Health Sciences from a “buy” rating to a “hold” rating and set a $108.00 target price for the company. in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group lifted their target price on shares of PRA Health Sciences from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $115.78.

In other PRA Health Sciences news, major shareholder Fund Holdings L.P. Kkr sold 6,666,684 shares of PRA Health Sciences stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $97.41, for a total transaction of $649,401,688.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.95% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System raised its stake in shares of PRA Health Sciences by 35.0% during the third quarter. California Public Employees Retirement System now owns 151,093 shares of the medical research company’s stock worth $14,993,000 after acquiring an additional 39,207 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of PRA Health Sciences during the second quarter worth approximately $2,327,000. Glen Harbor Capital Management LLC raised its stake in shares of PRA Health Sciences by 1.0% during the second quarter. Glen Harbor Capital Management LLC now owns 11,508 shares of the medical research company’s stock worth $1,141,000 after acquiring an additional 112 shares in the last quarter. Atria Investments LLC increased its stake in shares of PRA Health Sciences by 4,173.1% in the second quarter. Atria Investments LLC now owns 417,820 shares of the medical research company’s stock worth $4,617,000 after buying an additional 408,042 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of PRA Health Sciences by 155.1% in the second quarter. SG Americas Securities LLC now owns 45,836 shares of the medical research company’s stock worth $4,545,000 after buying an additional 27,869 shares during the period. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

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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