Assetmark Inc. Raises Stock Position in Syneos Health, Inc. (NASDAQ:SYNH)

Assetmark Inc. grew its holdings in shares of Syneos Health, Inc. (NASDAQ:SYNHGet Rating) by 20.1% during the third quarter, Holdings Channel reports. The firm owned 2,049 shares of the company’s stock after purchasing an additional 343 shares during the quarter. Assetmark Inc.’s holdings in Syneos Health were worth $97,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State of Alaska Department of Revenue increased its stake in shares of Syneos Health by 1.0% during the second quarter. State of Alaska Department of Revenue now owns 14,732 shares of the company’s stock worth $1,055,000 after buying an additional 140 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Syneos Health by 2.3% during the second quarter. Exchange Traded Concepts LLC now owns 6,702 shares of the company’s stock worth $480,000 after buying an additional 152 shares during the period. Harbor Investment Advisory LLC increased its stake in shares of Syneos Health by 13.4% during the second quarter. Harbor Investment Advisory LLC now owns 1,664 shares of the company’s stock worth $119,000 after buying an additional 197 shares during the period. Commerce Bank increased its stake in shares of Syneos Health by 2.0% during the second quarter. Commerce Bank now owns 10,157 shares of the company’s stock worth $728,000 after buying an additional 199 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Syneos Health by 0.8% during the second quarter. Arizona State Retirement System now owns 28,244 shares of the company’s stock worth $2,025,000 after buying an additional 214 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SYNH shares. Barclays downgraded Syneos Health from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $30.00 to $25.00 in a report on Friday, January 13th. Deutsche Bank Aktiengesellschaft lowered their price target on Syneos Health from $77.00 to $51.00 in a report on Wednesday, November 9th. StockNews.com started coverage on Syneos Health in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Mizuho downgraded Syneos Health from a “buy” rating to a “neutral” rating and lowered their price target for the company from $66.00 to $38.00 in a report on Wednesday, December 14th. They noted that the move was a valuation call. Finally, Robert W. Baird lowered their price target on Syneos Health from $80.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.60.

Syneos Health Price Performance

Shares of NASDAQ SYNH opened at $35.25 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a fifty day moving average price of $34.77 and a 200 day moving average price of $49.90. Syneos Health, Inc. has a 1-year low of $22.89 and a 1-year high of $92.62. The company has a market cap of $3.63 billion, a PE ratio of 12.82 and a beta of 1.63.

Syneos Health (NASDAQ:SYNHGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.07). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.37 billion. Syneos Health had a return on equity of 14.01% and a net margin of 5.31%. Sell-side analysts forecast that Syneos Health, Inc. will post 4.26 EPS for the current year.

About Syneos Health

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Syneos Health, Inc engages in the provision of outsourced clinical development and commercialization services to biopharmaceutical companies. It operates through the following business segments: Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers clinical development services spanning Phase I to Phase IV, including global studies, as well as unbundled service offerings such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with their drug development process.

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

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