Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 5,220,000 shares, an increase of 167.7% from the November 30th total of 1,950,000 shares. Currently, 5.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,410,000 shares, the short-interest ratio is currently 3.7 days.
Institutional Trading of Syneos Health
A number of institutional investors have recently bought and sold shares of SYNH. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Syneos Health during the 2nd quarter worth $28,000. CWM LLC boosted its position in shares of Syneos Health by 124.7% during the second quarter. CWM LLC now owns 418 shares of the company’s stock worth $30,000 after purchasing an additional 232 shares in the last quarter. Wipfli Financial Advisors LLC bought a new position in shares of Syneos Health during the third quarter worth $31,000. Meeder Asset Management Inc. boosted its position in shares of Syneos Health by 181.8% during the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $33,000 after purchasing an additional 300 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Syneos Health by 306.6% during the second quarter. First Horizon Advisors Inc. now owns 496 shares of the company’s stock worth $35,000 after purchasing an additional 374 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.
Wall Street Analyst Weigh In
SYNH has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered shares of Syneos Health from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $53.00 in a report on Tuesday, October 18th. Barclays dropped their price objective on shares of Syneos Health from $60.00 to $30.00 and set an “overweight” rating for the company in a report on Sunday, November 6th. StockNews.com assumed coverage on shares of Syneos Health in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Guggenheim lowered shares of Syneos Health from a “buy” rating to a “neutral” rating in a report on Wednesday, September 14th. Finally, Citigroup lowered their price target on shares of Syneos Health from $55.00 to $30.00 and set a “neutral” rating for the company in a report on Sunday, November 6th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Syneos Health presently has an average rating of “Hold” and an average target price of $54.10.
Syneos Health Trading Down 0.9 %
SYNH traded down $0.32 during trading on Wednesday, reaching $35.39. 619,892 shares of the company’s stock were exchanged, compared to its average volume of 874,891. The company’s fifty day moving average price is $37.40 and its 200-day moving average price is $53.95. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.14 and a current ratio of 1.14. Syneos Health has a fifty-two week low of $22.89 and a fifty-two week high of $104.17. The firm has a market capitalization of $3.64 billion, a PE ratio of 12.99 and a beta of 1.69.
Syneos Health Company Profile
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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