Wellington Management Group LLP Sells 205,075 Shares of Syneos Health, Inc. (NASDAQ:SYNH)

Wellington Management Group LLP lessened its stake in shares of Syneos Health, Inc. (NASDAQ:SYNHGet Rating) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,430,935 shares of the company’s stock after selling 205,075 shares during the period. Wellington Management Group LLP owned about 9.19% of Syneos Health worth $763,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised its stake in shares of Syneos Health by 2.4% during the first quarter. State Street Corp now owns 2,660,420 shares of the company’s stock valued at $215,361,000 after acquiring an additional 61,351 shares in the last quarter. Ethic Inc. raised its stake in Syneos Health by 50.2% in the first quarter. Ethic Inc. now owns 4,519 shares of the company’s stock worth $366,000 after buying an additional 1,510 shares in the last quarter. Cresset Asset Management LLC raised its stake in Syneos Health by 12.0% in the first quarter. Cresset Asset Management LLC now owns 2,652 shares of the company’s stock worth $214,000 after buying an additional 285 shares in the last quarter. Southeastern Asset Management Inc. TN bought a new position in Syneos Health in the first quarter worth approximately $854,000. Finally, Cardinal Capital Management LLC CT raised its stake in Syneos Health by 1.0% in the first quarter. Cardinal Capital Management LLC CT now owns 934,806 shares of the company’s stock worth $75,673,000 after buying an additional 9,142 shares in the last quarter. Institutional investors own 94.80% of the company’s stock.

Insiders Place Their Bets

In other Syneos Health news, General Counsel Jonathan Olefson sold 2,215 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $75.00, for a total transaction of $166,125.00. Following the completion of the transaction, the general counsel now directly owns 25,292 shares in the company, valued at $1,896,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Syneos Health news, General Counsel Jonathan Olefson sold 2,215 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $75.00, for a total transaction of $166,125.00. Following the completion of the transaction, the general counsel now directly owns 25,292 shares in the company, valued at $1,896,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Lee Brooks sold 1,002 shares of the company’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $74.00, for a total transaction of $74,148.00. Following the sale, the chief operating officer now directly owns 49,556 shares of the company’s stock, valued at approximately $3,667,144. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,203 shares of company stock worth $1,631,443. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Robert W. Baird reduced their price objective on shares of Syneos Health to $89.00 in a research note on Tuesday, August 9th. William Blair lowered Syneos Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 3rd. UBS Group assumed coverage on Syneos Health in a report on Wednesday, September 7th. They issued a “neutral” rating and a $68.00 price target for the company. Citigroup decreased their price objective on shares of Syneos Health from $80.00 to $70.00 in a research report on Wednesday, August 3rd. Finally, Mizuho dropped their target price on shares of Syneos Health from $94.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Syneos Health Stock Performance

SYNH opened at $61.98 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a fifty day moving average price of $68.69 and a 200 day moving average price of $72.63. Syneos Health, Inc. has a 1 year low of $57.93 and a 1 year high of $104.18. The stock has a market cap of $6.36 billion, a P/E ratio of 23.30 and a beta of 1.74.

Syneos Health (NASDAQ:SYNHGet Rating) last posted its earnings results on Tuesday, August 2nd. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. Syneos Health had a net margin of 5.13% and a return on equity of 14.04%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the business posted $0.86 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that Syneos Health, Inc. will post 4.54 earnings per share 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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Institutional Ownership by Quarter for Syneos Health (NASDAQ:SYNH)

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