Stevens Capital Management LP cut its position in Syneos Health Inc (NASDAQ:SYNH) by 71.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,235 shares of the company’s stock after selling 30,048 shares during the quarter. Stevens Capital Management LP’s holdings in Syneos Health were worth $633,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Texas Permanent School Fund raised its stake in shares of Syneos Health by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 41,352 shares of the company’s stock worth $2,140,000 after buying an additional 1,498 shares in the last quarter. Comerica Bank raised its stake in shares of Syneos Health by 2.1% during the 1st quarter. Comerica Bank now owns 41,128 shares of the company’s stock worth $2,103,000 after buying an additional 841 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Syneos Health by 1.7% during the 1st quarter. Rhumbline Advisers now owns 194,591 shares of the company’s stock worth $10,072,000 after buying an additional 3,170 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in shares of Syneos Health during the 1st quarter worth approximately $308,000. Finally, Signature Estate & Investment Advisors LLC raised its stake in shares of Syneos Health by 3.7% during the 1st quarter. Signature Estate & Investment Advisors LLC now owns 26,985 shares of the company’s stock worth $1,397,000 after buying an additional 956 shares in the last quarter.
A number of brokerages have recently issued reports on SYNH. ValuEngine raised Syneos Health from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. UBS Group downgraded Syneos Health from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Tuesday, March 19th. Wolfe Research began coverage on Syneos Health in a research note on Tuesday, April 2nd. They set a “market perform” rating for the company. Credit Suisse Group increased their target price on Syneos Health from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, Barclays reissued a “hold” rating and set a $48.00 target price on shares of Syneos Health in a research note on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Syneos Health currently has a consensus rating of “Buy” and a consensus target price of $53.33.
NASDAQ SYNH traded down $0.18 during mid-day trading on Friday, hitting $42.24. The stock had a trading volume of 3,231 shares, compared to its average volume of 689,736. Syneos Health Inc has a 52-week low of $36.26 and a 52-week high of $56.34. The company has a market capitalization of $4.40 billion, a P/E ratio of 15.98, a PEG ratio of 1.54 and a beta of 1.36. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.02 and a quick ratio of 1.02.
Syneos Health (NASDAQ:SYNH) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. Syneos Health had a return on equity of 9.55% and a net margin of 0.42%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business posted $0.55 EPS. Syneos Health’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that Syneos Health Inc will post 2.68 earnings per share for the current fiscal year.
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About Syneos Health
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 clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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