Syneos Health, Inc. (NASDAQ:SYNH – Get Rating)'s share price reached a new 52-week low during trading on Monday after Robert W. Baird lowered their price target on the stock from $89.00 to $80.00. Robert W. Baird currently has an outperform rating on the stock. Syneos Health traded as low as $50.33 and last traded at $50.64, with a volume of 10772 shares traded. The stock had previously closed at $51.51.
A number of other equities research analysts have also issued reports on SYNH. Barclays lowered their target price on Syneos Health from $80.00 to $70.00 and set an "overweight" rating for the company in a research note on Monday, September 12th. UBS Group began coverage on Syneos Health in a research note on Wednesday, September 7th. They set a "neutral" rating and a $68.00 price objective for the company. William Blair lowered Syneos Health from an "outperform" rating to a "market perform" rating in a research note on Wednesday, August 3rd. Guggenheim lowered Syneos Health from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 14th. Finally, Mizuho lowered their price objective on Syneos Health from $94.00 to $87.00 and set a "buy" rating for the company in a research note on Wednesday, August 3rd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $81.10.
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In related news, COO Michael Lee Brooks sold 1,002 shares of the firm's stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $78.00, for a total value of $78,156.00. Following the sale, the chief operating officer now owns 47,552 shares of the company's stock, valued at approximately $3,709,056. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Michael Lee Brooks sold 1,002 shares of the firm's stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $78.00, for a total value of $78,156.00. Following the sale, the chief operating officer now owns 47,552 shares of the company's stock, valued at approximately $3,709,056. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Jonathan Olefson sold 2,215 shares of the firm's stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $75.00, for a total value of $166,125.00. Following the completion of the sale, the general counsel now directly owns 25,292 shares in the company, valued at approximately $1,896,900. The disclosure for this sale can be found here. Insiders have sold a total of 22,203 shares of company stock valued at $1,631,443 in the last quarter. Insiders own 0.34% of the company's stock.
Institutional Trading of Syneos Health
Several hedge funds have recently added to or reduced their stakes in SYNH. HighTower Advisors LLC increased its position in shares of Syneos Health by 1.1% during the 4th quarter. HighTower Advisors LLC now owns 11,206 shares of the company's stock valued at $1,148,000 after purchasing an additional 119 shares during the period. State of Alaska Department of Revenue increased its position in shares of Syneos Health by 1.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,732 shares of the company's stock valued at $1,055,000 after purchasing an additional 140 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Syneos Health by 2.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 6,702 shares of the company's stock valued at $480,000 after purchasing an additional 152 shares during the period. Arizona State Retirement System increased its position in shares of Syneos Health by 0.6% during the 1st quarter. Arizona State Retirement System now owns 28,030 shares of the company's stock valued at $2,269,000 after purchasing an additional 178 shares during the period. Finally, Harbor Investment Advisory LLC increased its position in shares of Syneos Health by 13.4% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,664 shares of the company's stock valued at $119,000 after purchasing an additional 197 shares during the period. Institutional investors own 94.80% of the company's stock.Syneos Health Trading Down 0.6 %
The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 19.25 and a beta of 1.74. The firm has a 50-day moving average price of $66.48 and a 200-day moving average price of $71.56. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.86.
Syneos Health (NASDAQ:SYNH – Get Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.05. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.39 billion. Syneos Health had a return on equity of 14.04% and a net margin of 5.13%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. As a group, sell-side analysts predict that Syneos Health, Inc. will post 4.54 EPS for the current year.
About Syneos Health
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Syneos Health, Inc provides biopharmaceutical outsourcing 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 services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics in the Phase I to IV of clinical development.
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