Wells Fargo & Company MN raised its stake in Syneos Health Inc (NASDAQ:SYNH) by 18.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 258,874 shares of the company’s stock after acquiring an additional 40,366 shares during the period. Wells Fargo & Company MN owned 0.25% of Syneos Health worth $13,345,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Monarch Partners Asset Management LLC bought a new stake in shares of Syneos Health during the third quarter valued at approximately $8,968,000. Chicago Equity Partners LLC bought a new stake in Syneos Health during the third quarter worth approximately $1,644,000. Arizona State Retirement System raised its holdings in Syneos Health by 11.9% during the third quarter. Arizona State Retirement System now owns 43,112 shares of the company’s stock worth $2,222,000 after purchasing an additional 4,578 shares in the last quarter. Mesirow Financial Investment Management Equity Management raised its holdings in Syneos Health by 22.5% during the third quarter. Mesirow Financial Investment Management Equity Management now owns 296,260 shares of the company’s stock worth $15,273,000 after purchasing an additional 54,495 shares in the last quarter. Finally, State Treasurer State of Michigan raised its holdings in Syneos Health by 10.3% during the third quarter. State Treasurer State of Michigan now owns 22,500 shares of the company’s stock worth $1,160,000 after purchasing an additional 2,100 shares in the last quarter.
Shares of NASDAQ:SYNH opened at $47.98 on Friday. Syneos Health Inc has a 12 month low of $31.10 and a 12 month high of $53.95. The company has a market cap of $5.08 billion, a P/E ratio of 20.50, a PEG ratio of 1.14 and a beta of 0.97. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.99.
Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.17. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. Syneos Health had a negative net margin of 0.84% and a positive return on equity of 8.67%. The business’s revenue for the quarter was up 88.3% on a year-over-year basis. As a group, analysts anticipate that Syneos Health Inc will post 2.47 earnings per share for the current fiscal year.
SYNH has been the topic of several recent analyst reports. Evercore ISI initiated coverage on Syneos Health in a report on Thursday, October 4th. They set an “outperform” rating and a $58.00 target price on the stock. Zacks Investment Research cut Syneos Health from a “buy” rating to a “hold” rating in a report on Friday, November 30th. UBS Group initiated coverage on Syneos Health in a report on Tuesday, October 9th. They set a “buy” rating and a $60.00 target price on the stock. William Blair raised Syneos Health from a “market perform” rating to an “outperform” rating in a report on Friday, October 19th. Finally, KeyCorp boosted their target price on Syneos Health from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $54.90.
Syneos Health 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.
Read More: Leveraged Buyout (LBO)
Receive News & Ratings for Syneos Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syneos Health and related companies with MarketBeat.com's FREE daily email newsletter.