Wells Fargo & Company MN boosted its position in shares of Syneos Health Inc (NASDAQ:SYNH) by 18.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 258,874 shares of the company’s stock after buying an additional 40,366 shares during the quarter. Wells Fargo & Company MN’s holdings in Syneos Health were worth $13,345,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYNH. BlackRock Inc. grew its position in Syneos Health by 3.0% during the 2nd quarter. BlackRock Inc. now owns 7,284,876 shares of the company’s stock worth $341,662,000 after purchasing an additional 213,185 shares in the last quarter. Bank of America Corp DE grew its position in Syneos Health by 76.0% during the 2nd quarter. Bank of America Corp DE now owns 463,962 shares of the company’s stock worth $21,760,000 after purchasing an additional 200,382 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new position in Syneos Health during the 3rd quarter worth approximately $8,968,000. Massachusetts Financial Services Co. MA grew its position in Syneos Health by 18.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,935 shares of the company’s stock worth $30,256,000 after purchasing an additional 89,618 shares in the last quarter. Finally, Natixis purchased a new position in Syneos Health during the 2nd quarter worth approximately $3,493,000.
Syneos Health stock opened at $47.98 on Friday. 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 Inc has a 12 month low of $31.10 and a 12 month high of $53.95. The firm has a market cap of $5.08 billion, a PE ratio of 20.50, a P/E/G ratio of 1.14 and a beta of 0.97.
Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.58 by $0.17. Syneos Health had a negative net margin of 0.84% and a positive return on equity of 8.67%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. The firm’s quarterly revenue was up 88.3% on a year-over-year basis. As a group, equities analysts expect that Syneos Health Inc will post 2.47 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Syneos Health from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. 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 assumed coverage on shares of Syneos Health in a research report on Tuesday, October 9th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, KeyCorp lifted their price objective on shares of Syneos Health from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.90.
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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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