American Trust Grows Position in Syneos Health, Inc. (NASDAQ:SYNH)

American Trust boosted its stake in Syneos Health, Inc. (NASDAQ:SYNHGet Rating) by 90.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,210 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. American Trust’s holdings in Syneos Health were worth $341,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Syneos Health by 16.3% in the first quarter. BlackRock Inc. now owns 11,527,780 shares of the company’s stock valued at $933,174,000 after purchasing an additional 1,617,330 shares during the period. Vanguard Group Inc. lifted its position in Syneos Health by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,724,346 shares of the company’s stock valued at $787,185,000 after buying an additional 30,725 shares in the last quarter. Clearbridge Investments LLC lifted its position in Syneos Health by 3.3% during the first quarter. Clearbridge Investments LLC now owns 3,902,162 shares of the company’s stock valued at $315,880,000 after buying an additional 125,011 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Syneos Health by 33.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,868,800 shares of the company’s stock valued at $232,229,000 after buying an additional 723,812 shares in the last quarter. Finally, State Street Corp lifted its position in Syneos Health by 2.4% during the first quarter. State Street Corp now owns 2,660,420 shares of the company’s stock valued at $215,361,000 after buying an additional 61,351 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SYNH shares. Mizuho reduced their price target on shares of Syneos Health from $94.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Guggenheim cut shares of Syneos Health from a “buy” rating to a “neutral” rating in a research report on Wednesday. Barclays reduced their price target on shares of Syneos Health from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, September 12th. Evercore ISI reduced their price target on shares of Syneos Health to $73.00 in a research report on Tuesday, August 9th. Finally, William Blair cut shares of Syneos Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 3rd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $81.10.

Syneos Health Stock Down 1.9 %

Shares of NASDAQ:SYNH opened at $51.51 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $66.90 and a 200 day simple moving average of $71.82. The firm has a market cap of $5.29 billion, a PE ratio of 19.36 and a beta of 1.74. Syneos Health, Inc. has a 12-month low of $50.74 and a 12-month high of $104.18.

Syneos Health (NASDAQ:SYNHGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.39 billion. Syneos Health had a net margin of 5.13% and a return on equity of 14.04%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. On average, equities research analysts anticipate that Syneos Health, Inc. will post 4.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Syneos Health news, CAO Donna Hildebrand Kralowetz sold 1,149 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 6,805 shares in the company, valued at $497,853.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Syneos Health news, CEO Michelle Keefe sold 8,333 shares of the business’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $72.81, for a total transaction of $606,725.73. Following the completion of the sale, the chief executive officer now owns 71,266 shares in the company, valued at $5,188,877.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Donna Hildebrand Kralowetz sold 1,149 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 6,805 shares of the company’s stock, valued at approximately $497,853.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,203 shares of company stock worth $1,631,443. Insiders own 0.34% of the company’s stock.

About Syneos Health

(Get Rating)

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.

See Also

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

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