Convergence Investment Partners LLC Sells 526 Shares of Syneos Health Inc (NASDAQ:SYNH)

Convergence Investment Partners LLC trimmed its holdings in shares of Syneos Health Inc (NASDAQ:SYNH) by 3.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 16,353 shares of the company’s stock after selling 526 shares during the quarter. Convergence Investment Partners LLC’s holdings in Syneos Health were worth $953,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SYNH. First Republic Investment Management Inc. bought a new position in shares of Syneos Health during the 4th quarter worth approximately $202,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Syneos Health by 11.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 9,025 shares of the company’s stock worth $537,000 after buying an additional 895 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Syneos Health by 123.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,476 shares of the company’s stock worth $89,000 after buying an additional 816 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Syneos Health by 55.1% during the 4th quarter. Alliancebernstein L.P. now owns 247,229 shares of the company’s stock worth $14,704,000 after buying an additional 87,830 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Syneos Health by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 913,161 shares of the company’s stock worth $54,310,000 after buying an additional 23,622 shares in the last quarter.

In other Syneos Health news, Director John M. Dineen bought 8,691 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was purchased at an average cost of $59.11 per share, with a total value of $513,725.01. Following the transaction, the director now directly owns 17,426 shares in the company, valued at approximately $1,030,050.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michelle Keefe sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the sale, the insider now directly owns 51,943 shares of the company’s stock, valued at $3,116,580. The disclosure for this sale can be found here. Insiders sold a total of 9,173 shares of company stock valued at $542,217 over the last three months. 0.44% of the stock is currently owned by insiders.

A number of equities analysts recently issued reports on SYNH shares. UBS Group cut their target price on Syneos Health from $74.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. Cfra increased their target price on Syneos Health from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. SunTrust Banks increased their target price on Syneos Health from $66.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Citigroup cut their target price on Syneos Health from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, BidaskClub upgraded Syneos Health from a “buy” rating to a “strong-buy” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $60.67.

NASDAQ SYNH traded down $0.29 on Friday, reaching $62.39. The company had a trading volume of 466,131 shares, compared to its average volume of 488,466. The stock has a market capitalization of $6.50 billion, a P/E ratio of 21.74 and a beta of 1.84. The company’s fifty day moving average is $57.61 and its 200 day moving average is $56.57. Syneos Health Inc has a 52-week low of $30.02 and a 52-week high of $74.25. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.03.

Syneos Health (NASDAQ:SYNH) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Syneos Health had a return on equity of 10.33% and a net margin of 4.13%. Syneos Health’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. On average, research analysts expect that Syneos Health Inc will post 2.52 EPS for the current year.

Syneos Health Company Profile

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.

Further Reading: Coverage Ratio

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

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