Janney Montgomery Scott LLC acquired a new stake in Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,005 shares of the company’s stock, valued at approximately $283,000.
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Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Syneos Health by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,724,346 shares of the company’s stock valued at $787,185,000 after purchasing an additional 30,725 shares during the period. Clearbridge Investments LLC raised its position in Syneos Health by 5.6% in the second quarter. Clearbridge Investments LLC now owns 4,121,738 shares of the company’s stock valued at $295,446,000 after purchasing an additional 219,576 shares during the period. Massachusetts Financial Services Co. MA raised its position in Syneos Health by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,131,665 shares of the company’s stock valued at $224,478,000 after purchasing an additional 262,865 shares during the period. Cooke & Bieler LP raised its position in Syneos Health by 20.2% in the second quarter. Cooke & Bieler LP now owns 2,836,728 shares of the company’s stock valued at $203,337,000 after purchasing an additional 477,225 shares during the period. Finally, State Street Corp raised its position in Syneos Health by 2.4% in the first quarter. State Street Corp now owns 2,660,420 shares of the company’s stock valued at $215,361,000 after purchasing an additional 61,351 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.
Syneos Health Stock Performance
Shares of SYNH stock opened at $36.17 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average of $34.94 and a two-hundred day moving average of $49.01. Syneos Health, Inc. has a 52 week low of $22.89 and a 52 week high of $92.62. The company has a market cap of $3.72 billion, a P/E ratio of 13.15 and a beta of 1.63.
Syneos Health (NASDAQ:SYNH – Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.07). Syneos Health had a net margin of 5.31% and a return on equity of 14.01%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.37 billion. As a group, analysts anticipate that Syneos Health, Inc. will post 4.24 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. StockNews.com assumed coverage on Syneos Health in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays lowered Syneos Health from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $30.00 to $25.00 in a research report on Friday, January 13th. Deutsche Bank Aktiengesellschaft dropped their target price on Syneos Health from $77.00 to $51.00 in a research report on Wednesday, November 9th. Mizuho lowered Syneos Health from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $66.00 to $38.00 in a research report on Wednesday, December 14th. They noted that the move was a valuation call. Finally, Citigroup dropped their target price on Syneos Health from $55.00 to $30.00 and set a “neutral” rating on the stock in a research report on Sunday, November 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.60.
Syneos Health Company Profile
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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