Allspring Global Investments Holdings LLC Purchases 7,734 Shares of Syneos Health, Inc. (NASDAQ:SYNH)

Allspring Global Investments Holdings LLC lifted its position in shares of Syneos Health, Inc. (NASDAQ:SYNHGet Rating) by 93.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,014 shares of the company’s stock after acquiring an additional 7,734 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Syneos Health were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Syneos Health by 1.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,732 shares of the company’s stock worth $1,055,000 after acquiring an additional 140 shares during the period. Exchange Traded Concepts LLC increased its position in Syneos Health by 2.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 6,702 shares of the company’s stock worth $480,000 after purchasing an additional 152 shares in the last quarter. Harbor Investment Advisory LLC increased its position in Syneos Health by 13.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,664 shares of the company’s stock worth $119,000 after purchasing an additional 197 shares in the last quarter. Commerce Bank increased its position in Syneos Health by 2.0% during the 2nd quarter. Commerce Bank now owns 10,157 shares of the company’s stock worth $728,000 after purchasing an additional 199 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Syneos Health by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 28,244 shares of the company’s stock worth $2,025,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

Syneos Health Stock Up 1.9 %

Shares of NASDAQ SYNH opened at $35.25 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. Syneos Health, Inc. has a 52 week low of $22.89 and a 52 week high of $92.62. The firm’s fifty day moving average is $34.77 and its 200 day moving average is $49.74. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 12.82 and a beta of 1.63.

Syneos Health (NASDAQ:SYNHGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.07). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.37 billion. Syneos Health had a return on equity of 14.01% and a net margin of 5.31%. On average, equities research analysts expect that Syneos Health, Inc. will post 4.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Syneos Health in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Robert W. Baird lowered their price objective on shares of Syneos Health from $80.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, November 7th. Citigroup lowered their price objective on shares of Syneos Health from $55.00 to $30.00 and set a “neutral” rating for the company in a research report on Sunday, November 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Syneos Health from $77.00 to $51.00 in a research report on Wednesday, November 9th. Finally, Barclays cut shares of Syneos Health from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $30.00 to $25.00 in a research report on Friday, January 13th. One research 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, the company presently has a consensus rating of “Hold” and a consensus target price of $53.60.

Syneos Health Company Profile

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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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