PRA Health Sciences Inc (NASDAQ:PRAH) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,538,009 shares, a growth of 42.8% from the October 15th total of 1,077,059 shares. Based on an average trading volume of 429,098 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.7% of the company’s stock are sold short.
PRAH opened at $106.43 on Friday. PRA Health Sciences has a fifty-two week low of $76.39 and a fifty-two week high of $112.88. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.89 and a quick ratio of 0.93. The stock has a market cap of $6.71 billion, a PE ratio of 33.26, a PEG ratio of 1.51 and a beta of 0.73.
PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings results on Wednesday, October 31st. The medical research company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.06. PRA Health Sciences had a return on equity of 25.75% and a net margin of 2.37%. The company had revenue of $717.60 million during the quarter, compared to the consensus estimate of $729.63 million. During the same period last year, the business earned $0.88 EPS. The business’s quarterly revenue was up 23.3% on a year-over-year basis. On average, research analysts forecast that PRA Health Sciences will post 3.93 EPS for the current fiscal year.
A number of equities research analysts have commented on the company. KeyCorp restated a “buy” rating and set a $115.00 price objective on shares of PRA Health Sciences in a research report on Thursday, August 2nd. BidaskClub upgraded PRA Health Sciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Jefferies Financial Group restated a “buy” rating and set a $115.00 price objective on shares of PRA Health Sciences in a research report on Friday, July 20th. Credit Suisse Group raised their price objective on PRA Health Sciences from $104.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, August 2nd. Finally, SunTrust Banks raised their price objective on PRA Health Sciences from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $111.50.
Several institutional investors and hedge funds have recently bought and sold shares of PRAH. Allianz Asset Management GmbH raised its stake in shares of PRA Health Sciences by 18.0% during the 1st quarter. Allianz Asset Management GmbH now owns 319,330 shares of the medical research company’s stock worth $26,491,000 after purchasing an additional 48,660 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of PRA Health Sciences during the 2nd quarter worth about $572,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of PRA Health Sciences during the 2nd quarter worth about $411,000. Fox Run Management L.L.C. purchased a new stake in shares of PRA Health Sciences during the 2nd quarter worth about $201,000. Finally, Retirement Systems of Alabama bought a new position in shares of PRA Health Sciences in the 2nd quarter valued at approximately $6,120,000. 98.82% of the stock is owned by institutional investors.
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About PRA Health Sciences
PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development 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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