Syneos Health (NASDAQ:SYNH) Reaches New 1-Year Low on Analyst Downgrade

Syneos Health, Inc. (NASDAQ:SYNHGet Rating)’s stock price hit a new 52-week low on Monday after Robert W. Baird lowered their price target on the stock from $89.00 to $80.00. Robert W. Baird currently has an outperform rating on the stock. Syneos Health traded as low as $50.33 and last traded at $50.64, with a volume of 10772 shares traded. The stock had previously closed at $51.51.

A number of other equities research analysts have also recently commented on the stock. Barclays dropped their price objective on shares of Syneos Health from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, September 12th. Evercore ISI dropped their price objective on shares of Syneos Health to $73.00 in a research note on Tuesday, August 9th. William Blair cut shares of Syneos Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 3rd. UBS Group assumed coverage on shares of Syneos Health in a research note on Wednesday, September 7th. They set a “neutral” rating and a $68.00 price objective on the stock. Finally, Guggenheim lowered Syneos Health from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 14th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $81.10.

Insiders Place Their Bets

In other Syneos Health news, CAO Donna Hildebrand Kralowetz sold 1,149 shares of the firm’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $73.16, for a total value of $84,060.84. Following the completion of the sale, the chief accounting officer now directly owns 6,805 shares of the company’s stock, valued at approximately $497,853.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Syneos Health news, CAO Donna Hildebrand Kralowetz sold 1,149 shares of Syneos Health stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $73.16, for a total value of $84,060.84. Following the completion of the transaction, the chief accounting officer now directly owns 6,805 shares of the company’s stock, valued at approximately $497,853.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michelle Keefe sold 8,333 shares of Syneos Health stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $72.81, for a total value of $606,725.73. Following the completion of the transaction, the chief executive officer now directly owns 71,266 shares of the company’s stock, valued at $5,188,877.46. The disclosure for this sale can be found here. Insiders sold 22,203 shares of company stock valued at $1,631,443 in the last three months. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Syneos Health

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Syneos Health by 16.3% in the 1st quarter. BlackRock Inc. now owns 11,527,780 shares of the company’s stock valued at $933,174,000 after buying an additional 1,617,330 shares during the period. Vanguard Group Inc. boosted 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 buying an additional 30,725 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Syneos Health by 5.6% in the 2nd quarter. Clearbridge Investments LLC now owns 4,121,738 shares of the company’s stock valued at $295,446,000 after buying an additional 219,576 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Syneos Health by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,131,665 shares of the company’s stock valued at $224,478,000 after buying an additional 262,865 shares during the period. Finally, Cooke & Bieler LP boosted its stake in shares of Syneos Health by 20.2% in the 2nd quarter. Cooke & Bieler LP now owns 2,836,728 shares of the company’s stock valued at $203,337,000 after buying an additional 477,225 shares during the period. 94.80% of the stock is owned by institutional investors and hedge funds.

Syneos Health Stock Down 0.6 %

The firm has a 50 day moving average price of $66.48 and a 200-day moving average price of $71.56. 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 firm has a market cap of $5.26 billion, a PE ratio of 19.25 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 for the quarter, topping the consensus estimate of $1.08 by $0.05. The firm 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 firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. Research analysts forecast that Syneos Health, Inc. will post 4.54 EPS for the current fiscal year.

Syneos Health Company Profile

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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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