PNC Financial Services Group Inc. lowered its position in shares of Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) by 35.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,647 shares of the company’s stock after selling 6,833 shares during the period. PNC Financial Services Group Inc.’s holdings in Syneos Health were worth $464,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. FORA Capital LLC purchased a new position in shares of Syneos Health in the 4th quarter valued at approximately $403,000. Illinois Municipal Retirement Fund grew its holdings in Syneos Health by 50.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 48,766 shares of the company’s stock valued at $1,789,000 after purchasing an additional 16,316 shares during the period. Canada Pension Plan Investment Board grew its holdings in Syneos Health by 173.0% during the third quarter. Canada Pension Plan Investment Board now owns 17,200 shares of the company’s stock valued at $811,000 after purchasing an additional 10,900 shares during the period. Ergoteles LLC grew its holdings in Syneos Health by 190.8% during the third quarter. Ergoteles LLC now owns 49,527 shares of the company’s stock valued at $2,335,000 after purchasing an additional 32,495 shares during the period. Finally, Wesbanco Bank Inc. purchased a new position in shares of Syneos Health in the fourth quarter valued at about $1,585,000. Institutional investors own 93.51% of the company’s stock.
Syneos Health Price Performance
NASDAQ:SYNH opened at $41.56 on Friday. Syneos Health, Inc. has a 52 week low of $22.89 and a 52 week high of $79.77. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $4.31 billion, a PE ratio of 29.06 and a beta of 1.61. The stock’s 50-day moving average price is $39.29 and its 200-day moving average price is $37.01.
Analyst Upgrades and Downgrades
SYNH has been the topic of several research analyst reports. Barclays upgraded Syneos Health from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, May 10th. StockNews.com started coverage on Syneos Health in a research report on Saturday. They issued a “hold” rating on the stock. Mizuho boosted their target price on Syneos Health from $38.00 to $43.00 in a research report on Tuesday, May 16th. JPMorgan Chase & Co. upgraded Syneos Health from an “underweight” rating to a “neutral” rating in a research report on Wednesday, May 10th. Finally, Robert W. Baird downgraded Syneos Health from an “outperform” rating to a “neutral” rating in a research report on Thursday, May 11th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Syneos Health presently has a consensus rating of “Hold” and a consensus price target of $47.63.
Syneos Health Company Profile
Syneos Health, Inc engages in the provision of biopharmaceutical solutions. It operates through the Clinical Solutions and Commercial Solutions segments. The Clinical Solutions segment offers global services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics that span Phase I to IV of clinical development.
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