PRA Health Sciences Inc (NASDAQ:PRAH) Sees Large Growth in Short Interest

PRA Health Sciences Inc (NASDAQ:PRAH) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,787,900 shares, an increase of 28.2% from the April 30th total of 1,394,900 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average daily volume of 617,300 shares, the short-interest ratio is presently 2.9 days.

A number of institutional investors have recently added to or reduced their stakes in PRAH. Thrivent Financial for Lutherans increased its position in PRA Health Sciences by 7.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 14,975 shares of the medical research company’s stock valued at $1,377,000 after acquiring an additional 1,068 shares during the last quarter. Tekla Capital Management LLC lifted its position in shares of PRA Health Sciences by 117.1% during the fourth quarter. Tekla Capital Management LLC now owns 70,460 shares of the medical research company’s stock valued at $6,480,000 after buying an additional 38,000 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of PRA Health Sciences by 13.9% during the first quarter. Janus Henderson Group PLC now owns 90,053 shares of the medical research company’s stock valued at $9,932,000 after buying an additional 10,994 shares during the last quarter. Barclays PLC raised its position in shares of PRA Health Sciences by 52.7% in the 4th quarter. Barclays PLC now owns 38,121 shares of the medical research company’s stock valued at $3,505,000 after purchasing an additional 13,162 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its position in shares of PRA Health Sciences by 0.5% in the 4th quarter. MetLife Investment Advisors LLC now owns 35,657 shares of the medical research company’s stock valued at $3,279,000 after purchasing an additional 188 shares during the last quarter. 99.42% of the stock is currently owned by institutional investors.

PRA Health Sciences stock traded up $0.36 during mid-day trading on Thursday, reaching $98.96. 6,948 shares of the company’s stock traded hands, compared to its average volume of 556,881. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.32 and a beta of 1.08. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. PRA Health Sciences has a 12-month low of $82.12 and a 12-month high of $121.98.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Wednesday, May 1st. The medical research company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. The company had revenue of $722.00 million for the quarter, compared to the consensus estimate of $730.84 million. PRA Health Sciences had a net margin of 5.50% and a return on equity of 26.87%. PRA Health Sciences’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, equities research analysts anticipate that PRA Health Sciences will post 4.63 earnings per share for the current fiscal year.

Several equities analysts recently commented on PRAH shares. Wolfe Research started coverage on shares of PRA Health Sciences in a report on Tuesday, April 2nd. They set a “market perform” rating on the stock. BidaskClub lowered shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. SunTrust Banks increased their target price on shares of PRA Health Sciences to $120.00 and gave the company an “average” rating in a report on Monday, March 4th. Robert W. Baird increased their target price on shares of PRA Health Sciences from $119.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. Finally, Mizuho set a $100.00 price target on shares of PRA Health Sciences and gave the stock a “hold” rating in a report on Friday, May 3rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $113.22.

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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