Syneos Health (NASDAQ:SYNH) Price Target Cut to $80.00 by Analysts at Robert W. Baird

Syneos Health (NASDAQ:SYNHGet Rating) had its target price decreased by Robert W. Baird from $89.00 to $80.00 in a report released on Friday morning, The Fly reports. Robert W. Baird currently has an outperform rating on the stock.

SYNH has been the subject of a number of other reports. Evercore ISI cut their price objective on Syneos Health to $73.00 in a research report on Tuesday, August 9th. Guggenheim cut Syneos Health from a buy rating to a neutral rating in a research report on Wednesday. Citigroup cut their price objective on Syneos Health from $80.00 to $70.00 in a research report on Wednesday, August 3rd. UBS Group began coverage on Syneos Health in a research note on Wednesday, September 7th. They issued a neutral rating and a $68.00 price target on the stock. Finally, Mizuho lowered their price target on Syneos Health from $94.00 to $87.00 and set a buy rating on the stock in a research note on Wednesday, August 3rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Syneos Health presently has an average rating of Hold and a consensus price target of $81.10.

Syneos Health Stock Down 1.9 %

Shares of SYNH stock opened at $51.51 on Friday. The stock has a 50 day moving average of $66.90 and a 200 day moving average of $71.88. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.86. The stock has a market cap of $5.29 billion, a P/E ratio of 19.36 and a beta of 1.74. Syneos Health has a twelve month low of $50.74 and a twelve month high of $104.18.

Syneos Health (NASDAQ:SYNHGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $1.36 billion during 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 business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. As a group, sell-side analysts expect that Syneos Health will post 4.54 EPS for the current year.

Insiders Place Their Bets

In other Syneos Health news, General Counsel Jonathan Olefson sold 2,215 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $75.00, for a total transaction of $166,125.00. Following the transaction, the general counsel now owns 25,292 shares of the company’s stock, valued at $1,896,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Syneos Health news, COO Michael Lee Brooks sold 1,002 shares of Syneos Health stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $74.00, for a total value of $74,148.00. Following the sale, the chief operating officer now owns 49,556 shares in the company, valued at $3,667,144. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jonathan Olefson sold 2,215 shares of Syneos Health stock in a transaction on Wednesday, July 20th. The shares were 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 owns 25,292 shares in the company, valued at approximately $1,896,900. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,203 shares of company stock valued at $1,631,443. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Syneos Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYNH. BlackRock Inc. raised its position in Syneos Health by 16.3% in the first quarter. BlackRock Inc. now owns 11,527,780 shares of the company’s stock valued at $933,174,000 after purchasing an additional 1,617,330 shares during the period. Silvercrest Asset Management Group LLC raised its position in Syneos Health by 490.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,427,767 shares of the company’s stock valued at $145,924,000 after purchasing an additional 1,186,001 shares during the period. Alliancebernstein L.P. raised its position in Syneos Health by 576.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,343,624 shares of the company’s stock valued at $137,963,000 after purchasing an additional 1,144,983 shares during the period. Massachusetts Financial Services Co. MA raised its position in Syneos Health by 33.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,868,800 shares of the company’s stock valued at $232,229,000 after purchasing an additional 723,812 shares during the period. Finally, Cooke & Bieler LP raised its position in Syneos Health by 39.1% in the first quarter. Cooke & Bieler LP now owns 2,359,503 shares of the company’s stock valued at $191,002,000 after purchasing an additional 663,152 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Syneos Health Company Profile

(Get Rating)

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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