Commonwealth Equity Services LLC reduced its holdings in Syneos Health Inc (NASDAQ:SYNH) by 13.1% during the third quarter, Holdings Channel reports. The institutional investor owned 12,883 shares of the company’s stock after selling 1,943 shares during the period. Commonwealth Equity Services LLC’s holdings in Syneos Health were worth $664,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of SYNH. UBS Group AG bought a new position in shares of Syneos Health in the 1st quarter worth about $260,000. Janney Montgomery Scott LLC bought a new position in shares of Syneos Health in the 2nd quarter worth about $252,000. Massachusetts Financial Services Co. MA lifted its position in shares of Syneos Health by 1.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 497,317 shares of the company’s stock worth $23,324,000 after buying an additional 8,384 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Syneos Health in the 2nd quarter worth about $246,000. Finally, First Trust Advisors LP bought a new position in shares of Syneos Health in the 2nd quarter worth about $241,000.
A number of research firms have recently issued reports on SYNH. Zacks Investment Research upgraded shares of Syneos Health from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday. ValuEngine upgraded shares of Syneos Health from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. William Blair upgraded shares of Syneos Health from a “market perform” rating to an “outperform” rating in a research report on Friday, October 19th. UBS Group began coverage on shares of Syneos Health in a research report on Tuesday, October 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Evercore ISI began coverage on shares of Syneos Health in a research report on Thursday, October 4th. They issued an “outperform” rating and a $58.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $54.90.
Shares of NASDAQ:SYNH opened at $50.48 on Thursday. The stock has a market capitalization of $5.34 billion, a P/E ratio of 26.02, a PEG ratio of 1.20 and a beta of 0.97. Syneos Health Inc has a fifty-two week low of $31.10 and a fifty-two week high of $53.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.97 and a current ratio of 0.97.
Syneos Health (NASDAQ:SYNH) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.17. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. Syneos Health had a negative net margin of 0.84% and a positive return on equity of 8.67%. The firm’s quarterly revenue was up 88.3% on a year-over-year basis. On average, research analysts expect that Syneos Health Inc will post 2.47 earnings per share for the current fiscal 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 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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