Dynamic Technology Lab Private Ltd bought a new stake in shares of Syneos Health Inc (NASDAQ:SYNH) in the first quarter, HoldingsChannel.com reports. The fund bought 20,616 shares of the company’s stock, valued at approximately $732,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lee Thomas H Partners LP bought a new position in shares of Syneos Health during the first quarter valued at approximately $893,707,000. BlackRock Inc. bought a new position in shares of Syneos Health during the first quarter valued at approximately $251,044,000. Dimensional Fund Advisors LP bought a new position in shares of Syneos Health during the first quarter valued at approximately $63,338,000. Redmile Group LLC bought a new position in shares of Syneos Health during the first quarter valued at approximately $54,177,000. Finally, Cooke & Bieler LP bought a new position in shares of Syneos Health during the first quarter valued at approximately $47,763,000.
Shares of SYNH opened at $46.85 on Friday. The company has a market cap of $4.86 billion, a P/E ratio of 24.15, a PEG ratio of 1.15 and a beta of 0.83. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.01. Syneos Health Inc has a twelve month low of $31.10 and a twelve month high of $59.80.
Syneos Health (NASDAQ:SYNH) last announced its quarterly earnings results on Wednesday, May 9th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.04. Syneos Health had a negative net margin of 5.50% and a positive return on equity of 8.79%. The company had revenue of $761.00 million during the quarter, compared to the consensus estimate of $767.24 million. The business’s revenue for the quarter was up 201.9% compared to the same quarter last year. sell-side analysts anticipate that Syneos Health Inc will post 2.36 EPS for the current fiscal year.
A number of equities analysts have weighed in on SYNH shares. Zacks Investment Research downgraded shares of Syneos Health from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. ValuEngine downgraded shares of Syneos Health from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. SunTrust Banks raised their price target on shares of Syneos Health to $55.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. Barclays reissued an “equal weight” rating and set a $43.00 price target (up previously from $40.00) on shares of Syneos Health in a research report on Thursday, March 1st. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of Syneos Health in a research report on Friday, April 20th. They set an “overweight” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $50.40.
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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