Reinhart Partners Inc. increased its stake in Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) by 23.3% during the third quarter, according to its latest Form 13F filed with the Securities and Exchange Commission (SEC). The firm owned 404,552 shares of the company after purchasing an additional 76,396 shares during the period. Reinhart Partners Inc. owned 0.39% of Syneos Health worth $19,074,000 at its latest SEC filing.
Several other large investors have also recently increased or decreased their stakes in the stock. Eagle Asset Management Inc. purchased a new position in Syneos Health during the second quarter for approximately $46,487,000. Cooke & Bieler LP increased its holdings in Syneos Health by 20.2% in the second quarter. Cooke & Bieler LP now owns 2,836,728 shares of the company valued at $203,337,000 after purchasing an additional 477,225 shares during the most recent quarter. Assenagon Asset Management SA increased its stake in Syneos Health shares by 522.6% during the third quarter. Assenagon Asset Management SA now owns 497,456 shares of the company valued at $23,455,000 after purchasing an additional 417,559 shares in the recent quarter. AQR Capital Management LLC increased its holdings of shares of Syneos Health by 86.8% during the second quarter. AQR Capital Management LLC now owns 803,538 shares of the company valued at $57,598,000 after purchasing an additional 373,351 shares in the recent quarter. Finally, Macquarie Group Ltd. increased its holdings of shares in Syneos Health by 93.0% during the second quarter. Macquarie Group Ltd. now owns 677,778 shares of the company valued at $48,584,000 after purchasing an additional 326,529 shares in the recent quarter. 93.51% of the stock is owned by institutional investors and hedge funds.
The Wall Street analyst intervenes
Several stock analysts have published reports on SYNH stock. Citigroup cut its price target on Syneos Health from $55.00 to $30.00 and set a “neutral” valuation for the company in a Sunday, Nov. 6 research report. Barclays cut Syneos Health from an “overweight” rating to an “underweight” rating and set a $25.00 price target for the company. in a research note on Friday. JPMorgan Chase & Co. cut Syneos Health from an “overweight” rating to a “neutral” rating and cut its price target for the company from $85.00 to $53.00 in a research note on Tuesday, Oct. 18. Mizuho cut Syneos Health from a “buy” rating to a “neutral” rating and cut the company’s price target from $66.00 to $38.00 in a research note on Wednesday, Dec. 14. They noted the move was a rating call. Finally, Deutsche Bank Aktiengesellschaft reduced its price target on Syneos Health from $77.00 to $51.00 in a research report on Wednesday, Nov. 9. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average valuation of “Hold” and an average target price of $53.60.
Syneos Health stock performance
Shares of Syneos Health traded higher by $0.09 during mid-day trading on Friday to hit $34.56. 26,755 shares of the stock were traded, compared to its average volume of 2,123,213. Syneos Health, Inc. has a 12-month low of $22.89 and a 12-month high of $94.22. The company has a 50-day simple moving average of $34.24 and a 200-day simple moving average of $51.61. The company has a debt-to-equity ratio of 0.84, a fast ratio of 1.14, and a current ratio of 1.14. The company has a market cap of $3.56 billion, a P/E ratio of 12.53, and a beta of 1.63.
Syneos Health (NASDAQ:SYNH – Get Rating) last released its quarterly earnings results on Thursday, Nov. 3. The company reported earnings per share of $1.13 for the quarter, missing analyst consensus estimates of $1.20 by ($0.07). Syneos Health reported a return on equity of 14.01% and a net margin of 5.31%. The company reported revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.37 billion. Sell-side analysts expect Syneos Health, Inc. to post earnings per share of 4.26 for the current fiscal year.
Syneos Health Company Profile
Syneos Health, Inc provides biopharmaceutical outsourcing solutions companies in North America, Europe, Middle East, Africa, 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 therapies in Phase I through IV of clinical development.
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