ProShare Advisors LLC decreased its stake in Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) by 27.5% in the second quarter, Holdings Channel.com reports. The firm owned 15,306 shares of the company’s stock after selling 5,807 shares during the period. ProShare Advisors LLC’s holdings in Syneos Health were worth $1,097,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI lifted its stake in shares of Syneos Health by 947.3% during the 1st quarter. National Bank of Canada FI now owns 7,624 shares of the company’s stock worth $620,000 after acquiring an additional 6,896 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Syneos Health by 6.0% during the 1st quarter. Sei Investments Co. now owns 493,644 shares of the company’s stock worth $39,971,000 after acquiring an additional 28,016 shares during the last quarter. AMI Asset Management Corp lifted its stake in shares of Syneos Health by 25.9% during the 1st quarter. AMI Asset Management Corp now owns 97,904 shares of the company’s stock worth $7,925,000 after acquiring an additional 20,152 shares during the last quarter. BlackRock Inc. raised its position in Syneos Health by 16.3% during the 1st quarter. BlackRock Inc. now owns 11,527,780 shares of the company’s stock valued at $933,174,000 after purchasing an additional 1,617,330 shares in the last quarter. Finally, Yousif Capital Management LLC raised its position in Syneos Health by 5.8% during the 2nd quarter. Yousif Capital Management LLC now owns 58,009 shares of the company’s stock valued at $4,158,000 after purchasing an additional 3,190 shares in the last quarter. 94.80% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. UBS Group assumed coverage on shares of Syneos Health in a research note on Wednesday, September 7th. They issued a “neutral” rating and a $68.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Syneos Health from $99.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, October 12th. Mizuho reduced their price objective on shares of Syneos Health from $87.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, October 12th. Barclays reduced their price target on Syneos Health from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, October 6th. Finally, Guggenheim downgraded Syneos Health from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 14th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.09.
Insider Transactions at Syneos Health
In other news, COO Michael Lee Brooks sold 1,002 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $78.00, for a total value of $78,156.00. Following the sale, the chief operating officer now owns 47,552 shares in the company, valued at $3,709,056. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.
Syneos Health Trading Down 0.7 %
Shares of Syneos Health stock opened at $46.13 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.86. Syneos Health, Inc. has a 12-month low of $44.22 and a 12-month high of $104.18. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 17.62 and a beta of 1.78. The firm’s 50 day simple moving average is $54.82 and its two-hundred day simple moving average is $66.26.
Syneos Health (NASDAQ:SYNH – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. Syneos Health had a net margin of 5.13% and a return on equity of 14.04%. Syneos Health’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. Analysts predict that Syneos Health, Inc. will post 4.52 EPS for the current year.
Syneos Health Company Profile
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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.
Further Reading
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