Shell Asset Management Co. Reduces Position in Syneos Health, Inc. (NASDAQ:SYNH)

Posted by MarketBeat News on Aug 1st, 2022

Shell Asset Management Co. decreased its holdings in shares of Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) by 12.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,489 shares of the company’s stock after selling 1,405 shares during the quarter. Shell Asset Management Co.’s holdings in Syneos Health were worth $768,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Syneos Health by 328.6% during the fourth quarter. Signaturefd LLC now owns 240 shares of the company’s stock worth $25,000 after buying an additional 184 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Syneos Health in the first quarter valued at about $26,000. Independence Bank of Kentucky purchased a new stake in shares of Syneos Health in the first quarter valued at about $28,000. First Horizon Advisors Inc. grew its holdings in shares of Syneos Health by 59.6% in the fourth quarter. First Horizon Advisors Inc. now owns 391 shares of the company’s stock valued at $39,000 after purchasing an additional 146 shares during the period. Finally, CENTRAL TRUST Co purchased a new stake in shares of Syneos Health in the first quarter valued at about $44,000. Hedge funds and other institutional investors own 98.38% of the company’s stock.

Analyst Upgrades and Downgrades

SYNH has been the subject of a number of analyst reports. TheStreet lowered shares of Syneos Health from a “b” rating to a “c+” rating in a report on Wednesday, May 18th. Jefferies Financial Group lowered shares of Syneos Health from a “buy” rating to a “hold” rating and lowered their target price for the stock from $101.00 to $75.00 in a research note on Monday, April 25th. Guggenheim assumed coverage on shares of Syneos Health in a research note on Monday, May 23rd. They set a “buy” rating and a $81.00 target price for the company. Barclays lowered their target price on shares of Syneos Health from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 13th. Finally, Mizuho reaffirmed a “buy” rating and set a $94.00 target price on shares of Syneos Health in a research note on Friday, May 20th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.11.

Insider Activity at Syneos Health

In related news, CAO Donna Hildebrand Kralowetz sold 1,149 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $73.16, for a total value of $84,060.84. Following the sale, the chief accounting officer now owns 6,805 shares of the company’s stock, valued at $497,853.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Syneos Health news, CEO Michelle Keefe sold 8,333 shares of the stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $72.81, for a total value of $606,725.73. Following the transaction, the chief executive officer now directly owns 71,266 shares in the company, valued at $5,188,877.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Donna Hildebrand Kralowetz sold 1,149 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $73.16, for a total transaction of $84,060.84. Following the completion of the transaction, the chief accounting officer now owns 6,805 shares in the company, valued at $497,853.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,403 shares of company stock valued at $1,646,313 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Syneos Health Stock Up 0.0 %

Shares of SYNH opened at $79.14 on Monday. The stock has a market capitalization of $8.12 billion, a PE ratio of 34.26 and a beta of 1.70. Syneos Health, Inc. has a 1 year low of $62.28 and a 1 year high of $104.18. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50-day simple moving average is $71.79 and its 200-day simple moving average is $77.12.

Syneos Health (NASDAQ:SYNH – Get Rating) last issued its earnings results on Friday, April 29th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Syneos Health had a net margin of 4.54% and a return on equity of 13.33%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. Analysts forecast that Syneos Health, Inc. will post 4.63 earnings per share for the current fiscal year.

Syneos Health Company Profile

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Syneos Health, Inc provides biopharmaceutical outsourcing solutions company in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. It operates through two segments, Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics in the Phase I to IV of clinical development.