SYNH has been the topic of a number of other research reports. Zacks Investment Research downgraded Syneos Health from a buy rating to a hold rating in a research note on Saturday, November 17th. Evercore ISI initiated coverage on Syneos Health in a research note on Thursday, October 4th. They issued an outperform rating and a $58.00 price objective on the stock. Barclays dropped their price objective on Syneos Health from $51.00 to $45.00 and set an equal weight rating on the stock in a research note on Thursday, January 3rd. UBS Group initiated coverage on Syneos Health in a research note on Tuesday, October 9th. They issued a buy rating and a $60.00 price objective on the stock. Finally, William Blair raised Syneos Health from a market perform rating to an outperform rating in a research note on Friday, October 19th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $53.44.
Shares of Syneos Health stock opened at $47.45 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28. Syneos Health has a 1-year low of $31.10 and a 1-year high of $53.95.
In related news, CFO Jason M. Meggs bought 3,650 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The shares were acquired at an average cost of $41.25 per share, for a total transaction of $150,562.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jonathan Olefson bought 750 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The stock was bought at an average price of $41.27 per share, for a total transaction of $30,952.50. The disclosure for this purchase can be found here. Insiders own 0.57% of the company’s stock.
Several hedge funds have recently modified their holdings of SYNH. First Trust Advisors LP purchased a new position in shares of Syneos Health during the second quarter valued at $241,000. Bank of New York Mellon Corp grew its holdings in shares of Syneos Health by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 652,958 shares of the company’s stock valued at $30,623,000 after buying an additional 26,267 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Syneos Health by 3.0% during the second quarter. BlackRock Inc. now owns 7,284,876 shares of the company’s stock valued at $341,662,000 after buying an additional 213,185 shares in the last quarter. Federated Investors Inc. PA grew its holdings in shares of Syneos Health by 65.2% during the second quarter. Federated Investors Inc. PA now owns 23,171 shares of the company’s stock valued at $1,087,000 after buying an additional 9,145 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of Syneos Health by 17.2% during the second quarter. OppenheimerFunds Inc. now owns 22,776 shares of the company’s stock valued at $1,068,000 after buying an additional 3,338 shares in the last quarter.
About Syneos Health
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 unbundled service offerings, such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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