State of Alaska Department of Revenue Cuts Stock Position in Syneos Health, Inc. (NASDAQ:SYNH)

State of Alaska Department of Revenue lessened its holdings in Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,232 shares of the company’s stock after selling 500 shares during the period. State of Alaska Department of Revenue’s holdings in Syneos Health were worth $671,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Syneos Health by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,724,346 shares of the company’s stock valued at $787,185,000 after acquiring an additional 30,725 shares during the period. Clearbridge Investments LLC increased its stake in Syneos Health by 5.6% during the 2nd quarter. Clearbridge Investments LLC now owns 4,121,738 shares of the company’s stock worth $295,446,000 after buying an additional 219,576 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Syneos Health by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,131,665 shares of the company’s stock worth $224,478,000 after buying an additional 262,865 shares during the period. Cooke & Bieler LP increased its stake in Syneos Health by 20.2% during the 2nd quarter. Cooke & Bieler LP now owns 2,836,728 shares of the company’s stock worth $203,337,000 after buying an additional 477,225 shares during the period. Finally, State Street Corp increased its stake in Syneos Health by 2.4% during the 1st quarter. State Street Corp now owns 2,660,420 shares of the company’s stock worth $215,361,000 after buying an additional 61,351 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Syneos Health Trading Up 1.2 %

NASDAQ SYNH opened at $35.34 on Wednesday. Syneos Health, Inc. has a one year low of $22.89 and a one year high of $94.86. The company has a 50-day simple moving average of $34.79 and a 200-day simple moving average of $51.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $3.64 billion, a PE ratio of 12.85 and a beta of 1.63.

Syneos Health (NASDAQ:SYNH – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.07). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.37 billion. Syneos Health had a net margin of 5.31% and a return on equity of 14.01%. On average, equities analysts forecast that Syneos Health, Inc. will post 4.26 earnings per share for the current year.

Analysts Set New Price Targets

SYNH has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded shares of Syneos Health from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $53.00 in a research note on Tuesday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Syneos Health from $77.00 to $51.00 in a research note on Wednesday, November 9th. Robert W. Baird dropped their price target on shares of Syneos Health from $80.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, November 7th. Barclays decreased their price objective on shares of Syneos Health from $60.00 to $30.00 and set an “overweight” rating for the company in a report on Sunday, November 6th. Finally, Mizuho lowered shares of Syneos Health from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $38.00 in a report on Wednesday, December 14th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.10.

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.