JustInvest LLC Sells 1,869 Shares of Syneos Health, Inc. (NASDAQ:SYNH)

JustInvest LLC cut its holdings in shares of Syneos Health, Inc. (NASDAQ:SYNH) by 29.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,379 shares of the company’s stock after selling 1,869 shares during the period. JustInvest LLC’s holdings in Syneos Health were worth $383,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Hancock Whitney Corp increased its position in shares of Syneos Health by 4.4% during the third quarter. Hancock Whitney Corp now owns 3,394 shares of the company’s stock worth $297,000 after acquiring an additional 142 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Syneos Health by 71.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 354 shares of the company’s stock worth $31,000 after purchasing an additional 147 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Syneos Health by 10.8% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,556 shares of the company’s stock worth $139,000 after purchasing an additional 152 shares in the last quarter. Neuberger Berman Group LLC grew its position in Syneos Health by 2.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,643 shares of the company’s stock worth $474,000 after purchasing an additional 152 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in Syneos Health by 1.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 15,882 shares of the company’s stock worth $1,389,000 after purchasing an additional 153 shares in the last quarter. 95.03% of the stock is owned by institutional investors.

A number of brokerages have issued reports on SYNH. Barclays raised shares of Syneos Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $98.00 to $115.00 in a research report on Thursday, November 4th. Citigroup downgraded shares of Syneos Health from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $115.00 to $105.00 in a research report on Wednesday, December 15th. KeyCorp upped their price objective on shares of Syneos Health from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 4th. Finally, Robert W. Baird upped their price objective on shares of Syneos Health from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Thursday, November 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $105.86.

SYNH opened at $89.99 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 37.65 and a beta of 1.76. Syneos Health, Inc. has a twelve month low of $69.53 and a twelve month high of $104.18. The company’s 50-day moving average price is $98.88 and its two-hundred day moving average price is $93.35.

Syneos Health (NASDAQ:SYNH) last released its earnings results on Wednesday, November 3rd. The company reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.05. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Syneos Health had a net margin of 5.04% and a return on equity of 11.71%. The company’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, sell-side analysts anticipate that Syneos Health, Inc. will post 3.95 earnings per share for the current year.

In related news, Director Linda S. Harty sold 4,122 shares of the company’s stock in a transaction that occurred on Monday, December 20th. The shares were sold at an average price of $97.02, for a total transaction of $399,916.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jonathan Olefson sold 1,889 shares of the company’s stock in a transaction that occurred on Thursday, December 23rd. The shares were sold at an average price of $100.95, for a total transaction of $190,694.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,104 shares of company stock worth $599,818. Corporate insiders own 0.29% of the company’s stock.

About Syneos Health

Syneos Health, Inc provides outsourced clinical development and commercialization services to biopharmaceutical companies. It operates through the following business segments: Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers clinical development services spanning Phase I to Phase IV, including global studies, as well as unbundled service offerings such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with their drug development process.

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Institutional Ownership by Quarter for Syneos Health (NASDAQ:SYNH)

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