Envestnet Asset Management Inc. Sells 103,497 Shares of Syneos Health, Inc. (NASDAQ:SYNH)

Envestnet Asset Management Inc. lessened its holdings in shares of Syneos Health, Inc. (NASDAQ:SYNHGet Rating) by 33.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 205,564 shares of the company’s stock after selling 103,497 shares during the quarter. Envestnet Asset Management Inc. owned about 0.20% of Syneos Health worth $16,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in Syneos Health by 17.7% during the 4th quarter. Teacher Retirement System of Texas now owns 19,690 shares of the company’s stock valued at $2,022,000 after purchasing an additional 2,961 shares during the period. AMI Asset Management Corp increased its stake in Syneos Health by 25.9% in the 1st quarter. AMI Asset Management Corp now owns 97,904 shares of the company’s stock worth $7,925,000 after acquiring an additional 20,152 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Syneos Health by 4.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 814,210 shares of the company’s stock worth $65,909,000 after acquiring an additional 31,160 shares during the last quarter. SG Americas Securities LLC increased its stake in Syneos Health by 286.6% in the 1st quarter. SG Americas Securities LLC now owns 39,321 shares of the company’s stock worth $3,183,000 after acquiring an additional 29,150 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Syneos Health by 622.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 129,692 shares of the company’s stock worth $10,499,000 after acquiring an additional 111,744 shares during the last quarter. Institutional investors own 98.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SYNH shares. Citigroup reduced their price objective on Syneos Health from $80.00 to $70.00 in a research note on Wednesday. Guggenheim assumed coverage on Syneos Health in a report on Monday, May 23rd. They issued a “buy” rating and a $81.00 target price for the company. Mizuho dropped their target price on Syneos Health from $94.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday. Barclays dropped their target price on Syneos Health from $90.00 to $80.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Syneos Health in a report on Monday, April 11th. They issued a “buy” rating and a $102.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.67.

Syneos Health Price Performance

SYNH opened at $68.45 on Friday. The business has a fifty day moving average of $71.69 and a 200 day moving average of $76.74. Syneos Health, Inc. has a 52-week low of $62.28 and a 52-week high of $104.18. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.86. The stock has a market cap of $7.02 billion, a P/E ratio of 25.73 and a beta of 1.68.

Syneos Health (NASDAQ:SYNHGet Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. Syneos Health had a return on equity of 14.04% and a net margin of 5.13%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Syneos Health, Inc. will post 4.63 EPS for the current year.

Insiders Place Their Bets

In other Syneos Health news, CAO Donna Hildebrand Kralowetz sold 1,149 shares of the company’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $73.16, for a total value of $84,060.84. Following the completion of the sale, the chief accounting officer now directly owns 6,805 shares in the company, valued at approximately $497,853.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Donna Hildebrand Kralowetz sold 1,149 shares of the business’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $73.16, for a total value of $84,060.84. Following the completion of the transaction, the chief accounting officer now directly owns 6,805 shares of the company’s stock, valued at approximately $497,853.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Michael Lee Brooks sold 1,002 shares of the business’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $74.00, for a total value of $74,148.00. Following the completion of the transaction, the chief operating officer now directly owns 49,556 shares of the company’s stock, valued at $3,667,144. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,403 shares of company stock worth $1,646,313. 0.34% of the stock is currently owned by company insiders.

About Syneos Health

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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.

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Institutional Ownership by Quarter for Syneos Health (NASDAQ:SYNH)

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