Syneos Health, Inc. (NASDAQ:SYNH) Shares Sold by Russell Investments Group Ltd.

Syneos Health logoRussell Investments Group Ltd. trimmed its position in Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) by 47.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,163 shares of the company’s stock after selling 119.510 shares during the period. Russell Investments Group Ltd.’s holdings in Syneos Health were worth $10,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. acquired a new stake in Syneos Health in the first quarter valued at approximately $26,000. Independence Bank of Kentucky acquired a new position in shares of Syneos Health in the 1st quarter valued at $28,000. First Horizon Advisors Inc. increased its position in shares of Syneos Health by 59.6% in the 4th quarter. First Horizon Advisors Inc. now owns 391 shares of the company’s stock valued at $39,000 after acquiring an additional 146 shares during the period. CENTRAL TRUST Co acquired a new position in shares of Syneos Health in the 1st quarter valued at $44,000. Finally, Maverick Capital Ltd. acquired a new position in shares of Syneos Health in the 4th quarter valued at $81,000. 98.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equity analysts recently issued reports on SYNH shares. Barclays cut their target price on Syneos Health from $90.00 to $80.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Syneos Health in a research report on Monday, April 11th. They issued a “buy” rating and a $102.00 target price on the stock. Guggenheim initiated coverage on Syneos Health in a research report on Monday, May 23rd. They issued a “buy” rating and a $81.00 target price on the stock. Citigroup cut their price target on Syneos Health from $80.00 to $70.00 in a research report on Wednesday. Finally, William Blair downgraded Syneos Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.13.

Insider Transactions at Syneos Health

In other news, COO Michael Lee Brooks sold 1,002 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $78.00, for a total transaction of $78,156.00. Following the sale, the chief operating officer now directly owns 47,552 shares of the company’s stock, valued at approximately $3,709,056. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Donna Hildebrand Kralowetz sold 1,149 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $73.16, for a total value of $84,060.84. Following the transaction, 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 is available at this link. Also, COO Michael Lee Brooks sold 1,002 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $78.00, for a total transaction of $78,156.00. Following the completion of the transaction, the chief operating officer now directly owns 47,552 shares in the company, valued at $3,709,056. The disclosure for this sale can be found here. Insiders have sold a total of 22,403 shares of company stock valued at $1,646,313 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Syneos Health Trading Down 0.7%

SYNH stock opened at $67.96 on Friday. The company’s 50-day simple moving average is $71.55 and its 200-day simple moving average is $76.54. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.86. Syneos Health, Inc. has a 52-week low of $62.28 and a 52-week high of $104.18. The firm has a market cap of $6.98 billion, a P/E ratio of 25.55 and a beta of 1.68.

Syneos Health (NASDAQ:SYNH – Get Rating) last posted its earnings results on Tuesday, August 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.17. Syneos Health had a net margin of 5.13% and a return on equity of 14.04%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equity analysts forecast that Syneos Health, Inc. will post 4.57 EPS for the current fiscal year.

About Syneos Health

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

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