Bank of New York Mellon Corp raised its holdings in shares of Syneos Health Inc (NASDAQ:SYNH) by 87.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,572,457 shares of the company’s stock after acquiring an additional 734,221 shares during the period. Bank of New York Mellon Corp owned about 1.51% of Syneos Health worth $93,522,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of SYNH. Alpha Windward LLC bought a new position in Syneos Health during the fourth quarter valued at approximately $26,000. Allred Capital Management LLC bought a new position in Syneos Health during the fourth quarter valued at approximately $30,000. Americana Partners LLC bought a new position in shares of Syneos Health in the fourth quarter worth approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Syneos Health by 8.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,921 shares of the company’s stock worth $233,000 after purchasing an additional 309 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Syneos Health by 10.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 4,033 shares of the company’s stock worth $240,000 after purchasing an additional 369 shares during the last quarter.
Several research analysts have recently issued reports on SYNH shares. Barclays restated a “hold” rating and issued a $67.00 target price on shares of Syneos Health in a report on Sunday, February 23rd. Credit Suisse Group raised their target price on shares of Syneos Health from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. ValuEngine upgraded shares of Syneos Health from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Mizuho raised their target price on shares of Syneos Health from $52.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Finally, UBS Group raised their target price on shares of Syneos Health from $62.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $67.30.
NASDAQ:SYNH opened at $42.93 on Thursday. The stock has a market cap of $3.53 billion, a P/E ratio of 34.62 and a beta of 1.18. The firm’s fifty day simple moving average is $58.95 and its 200 day simple moving average is $56.54. Syneos Health Inc has a twelve month low of $30.02 and a twelve month high of $74.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.93.
Syneos Health (NASDAQ:SYNH) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. Syneos Health had a return on equity of 10.12% and a net margin of 2.81%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts expect that Syneos Health Inc will post 3.03 EPS for the current fiscal year.
In other Syneos Health news, CFO Jason M. Meggs acquired 3,555 shares of the business’s stock in a transaction on Friday, March 20th. The shares were bought at an average price of $36.74 per share, with a total value of $130,610.70. Following the transaction, the chief financial officer now directly owns 63,784 shares of the company’s stock, valued at approximately $2,343,424.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Colvin acquired 1,300 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was acquired at an average cost of $36.65 per share, for a total transaction of $47,645.00. Following the transaction, the insider now directly owns 26,855 shares in the company, valued at $984,235.75. The disclosure for this purchase can be found here. 0.44% of the stock is owned by corporate insiders.
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.
Receive News & Ratings for Syneos Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syneos Health and related companies with MarketBeat.com's FREE daily email newsletter.