Meeder Asset Management Inc. cut its stake in shares of Syneos Health Inc (NASDAQ:SYNH) by 84.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 959 shares of the company’s stock after selling 5,258 shares during the period. Meeder Asset Management Inc.’s holdings in Syneos Health were worth $50,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new stake in shares of Syneos Health during the fourth quarter valued at about $57,000. Boston Advisors LLC purchased a new position in shares of Syneos Health during the fourth quarter worth about $2,121,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Syneos Health by 9.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,127 shares of the company’s stock worth $949,000 after purchasing an additional 2,085 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Syneos Health by 9.9% during the third quarter. Vanguard Group Inc now owns 6,914,223 shares of the company’s stock worth $356,429,000 after purchasing an additional 624,991 shares in the last quarter. Finally, BB&T Corp grew its holdings in shares of Syneos Health by 14.2% during the fourth quarter. BB&T Corp now owns 7,538 shares of the company’s stock worth $296,000 after purchasing an additional 936 shares in the last quarter.
Several brokerages have recently commented on SYNH. Wolfe Research initiated coverage on Syneos Health in a report on Tuesday, April 2nd. They set a “market perform” rating for the company. ValuEngine lowered Syneos Health from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. Credit Suisse Group upped their target price on Syneos Health from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Barclays reiterated a “hold” rating and issued a $48.00 price objective on shares of Syneos Health in a research report on Wednesday, April 17th. Finally, William Blair restated an “outperform” rating on shares of Syneos Health in a report on Tuesday, March 19th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Syneos Health presently has an average rating of “Buy” and a consensus price target of $53.33.
SYNH traded down $0.06 during trading on Wednesday, reaching $42.16. The stock had a trading volume of 493,311 shares, compared to its average volume of 736,407. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.48 and a beta of 1.36. Syneos Health Inc has a one year low of $36.26 and a one year high of $56.34.
Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. Syneos Health had a return on equity of 9.55% and a net margin of 0.42%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, analysts predict that Syneos Health Inc will post 2.67 EPS for the current year.
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Syneos Health Company Profile
Syneos Health, Inc operates as an integrated biopharmaceutical 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 various clinical development services spanning Phase I to Phase IV, including full-service global studies, as well as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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