Louisiana State Employees Retirement System raised its position in Syneos Health Inc (NASDAQ:SYNH) by 10.7% in the third quarter, Holdings Channel reports. The fund owned 16,600 shares of the company’s stock after buying an additional 1,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Syneos Health were worth $856,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. First Manhattan Co. purchased a new position in Syneos Health in the third quarter worth approximately $103,000. PNC Financial Services Group Inc. purchased a new position in Syneos Health in the first quarter worth approximately $111,000. CIBC World Markets Inc. purchased a new position in Syneos Health in the first quarter worth approximately $231,000. LPL Financial LLC purchased a new position in Syneos Health in the first quarter worth approximately $236,000. Finally, First Trust Advisors LP purchased a new position in Syneos Health in the second quarter worth approximately $241,000.
A number of research analysts recently issued reports on SYNH shares. UBS Group started coverage on shares of Syneos Health in a research note on Tuesday, October 9th. They issued a “buy” rating and a $60.00 price target for the company. SunTrust Banks reiterated a “buy” rating and issued a $60.00 price target on shares of Syneos Health in a research note on Friday, August 3rd. Mizuho reiterated a “hold” rating and issued a $51.00 price target on shares of Syneos Health in a research note on Monday, August 6th. Barclays restated a “hold” rating and set a $51.00 price objective (up previously from $43.00) on shares of Syneos Health in a research report on Friday, August 3rd. Finally, ValuEngine upgraded shares of Syneos Health from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $53.91.
In other news, major shareholder H. Lee Equity Fund Vi Thomas sold 6,000,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $49.73, for a total transaction of $298,380,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by insiders.
Shares of NASDAQ:SYNH opened at $45.93 on Friday. The company has a market cap of $5.30 billion, a PE ratio of 23.68, a P/E/G ratio of 1.22 and a beta of 0.81. The company has a quick ratio of 1.04, a current ratio of 1.04 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 $59.45.
Syneos Health (NASDAQ:SYNH) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. Syneos Health had a negative net margin of 4.32% and a positive return on equity of 7.80%. The company’s quarterly revenue was up 315.5% compared to the same quarter last year. On average, equities research analysts forecast that Syneos Health Inc will post 2.42 EPS for the current year.
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 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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