Teachers Retirement System of The State of Kentucky Raises Stock Position in Syneos Health, Inc. (NASDAQ:SYNH)

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Syneos Health, Inc. (NASDAQ:SYNHGet Rating) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,889 shares of the company’s stock after purchasing an additional 1,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Syneos Health were worth $5,414,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SYNH. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Syneos Health during the 1st quarter worth approximately $26,000. Independence Bank of Kentucky purchased a new position in shares of Syneos Health during the 1st quarter worth approximately $28,000. CENTRAL TRUST Co purchased a new position in shares of Syneos Health during the 1st quarter worth approximately $44,000. Lazard Asset Management LLC purchased a new position in shares of Syneos Health during the 1st quarter worth approximately $53,000. Finally, Lansing Street Advisors purchased a new position in shares of Syneos Health during the 1st quarter worth approximately $59,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Syneos Health

In related news, COO Michael Lee Brooks sold 1,002 shares of Syneos Health stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $78.00, for a total transaction of $78,156.00. Following the transaction, the chief operating officer now owns 47,552 shares in the company, valued at approximately $3,709,056. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Donna Hildebrand Kralowetz sold 1,149 shares of Syneos Health 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 transaction, the chief accounting officer now owns 6,805 shares in the company, valued at approximately $497,853.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Lee Brooks sold 1,002 shares of Syneos Health stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $78.00, for a total transaction of $78,156.00. Following the transaction, the chief operating officer now owns 47,552 shares in the company, valued at approximately $3,709,056. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,203 shares of company stock worth $1,631,443. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SYNH shares. Barclays dropped their price objective on shares of Syneos Health from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, September 12th. Robert W. Baird lowered their target price on shares of Syneos Health from $89.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday. Citigroup lowered their target price on shares of Syneos Health from $80.00 to $70.00 in a research note on Wednesday, August 3rd. Guggenheim cut shares of Syneos Health from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, William Blair cut shares of Syneos Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 3rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $81.10.

Syneos Health Stock Down 1.9 %

Shares of SYNH opened at $51.51 on Friday. The firm has a market cap of $5.29 billion, a PE ratio of 19.36 and a beta of 1.74. The company’s fifty day moving average is $66.90 and its two-hundred day moving average is $71.82. Syneos Health, Inc. has a fifty-two week low of $50.74 and a fifty-two week high of $104.18. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.86.

Syneos Health (NASDAQ:SYNHGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $1.36 billion for 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%. Syneos Health’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. Analysts forecast that Syneos Health, Inc. will post 4.54 earnings per share for the current year.

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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