1492 Capital Management LLC cut its stake in shares of Syneos Health Inc (NASDAQ:SYNH) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,579 shares of the company’s stock after selling 2,141 shares during the period. 1492 Capital Management LLC’s holdings in Syneos Health were worth $1,117,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of SYNH. Norges Bank acquired a new position in Syneos Health during the fourth quarter valued at approximately $24,850,000. Rubric Capital Management LP acquired a new stake in shares of Syneos Health in the first quarter valued at approximately $23,121,000. BlackRock Inc. lifted its position in shares of Syneos Health by 5.3% in the fourth quarter. BlackRock Inc. now owns 8,461,264 shares of the company’s stock valued at $332,951,000 after buying an additional 425,338 shares during the last quarter. Rothschild & Co. Asset Management US Inc. lifted its position in shares of Syneos Health by 196.3% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 583,089 shares of the company’s stock valued at $30,181,000 after buying an additional 386,294 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Syneos Health by 13.1% in the fourth quarter. Mackenzie Financial Corp now owns 3,202,804 shares of the company’s stock valued at $126,030,000 after buying an additional 370,552 shares during the last quarter.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised Syneos Health from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Barclays reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Syneos Health in a research report on Wednesday, April 17th. ValuEngine cut Syneos Health from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Wolfe Research assumed coverage on Syneos Health in a research report on Tuesday, April 2nd. They issued a “market perform” rating for the company. Finally, UBS Group cut Syneos Health from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Tuesday, March 19th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Syneos Health has a consensus rating of “Buy” and an average price target of $53.33.
Shares of NASDAQ SYNH opened at $47.36 on Thursday. The company has a market cap of $4.77 billion, a PE ratio of 18.08, a PEG ratio of 1.64 and a beta of 1.41. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.02 and a current ratio of 1.02. Syneos Health Inc has a 1-year low of $36.26 and a 1-year high of $56.34.
Syneos Health (NASDAQ:SYNH) last announced its earnings results on Thursday, May 9th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Syneos Health had a return on equity of 9.55% and a net margin of 0.42%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. Equities research analysts predict that Syneos Health Inc will post 2.67 earnings per share for the current year.
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About Syneos Health
Syneos Health, Inc operates as an integrated biopharmaceutical 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 various clinical development services spanning Phase I to Phase IV, including full-service global studies, as well as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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