Insider Sale: Syneos Health, Inc. (NASDAQ: SYNH) COO Sells 1,002 Shares

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Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) COO Michael Lee Brooks sold 1,002 shares in a trade Thursday, July 21. The stock was sold at an average price of $76.00, for a total value of $76,152.00. Following completion of the transaction, the COO now directly owns 48,554 shares of the company, valued at approximately $3,690,104. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link.

Michael Lee Brooks also recently made the following trade(s):

  • On Tuesday July 19, Michael Lee Brooks sold 1,002 shares of Syneos Health. The shares were sold at an average price of $74.00, for a total value of $74,148.00.

Syneos Health stock down 1.0%

Shares of SYNH were down $0.75 at midday Friday, hitting $75.84. 9,455 shares were traded, against an average volume of 496,818. Syneos Health, Inc. has a 12-month low of $62.28 and a 12-month high of $104.18. The company has a 50-day simple moving average of $70.93 and a 200-day simple moving average of $78.03. The company has a quick ratio of 1.09, a current ratio of 1.09 and a leverage ratio of 0.89. The company has a market capitalization of $7.78 billion, a price-earnings ratio of 33.16 and a beta of 1.70.

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Syneos Health (NASDAQ:SYNH – Get Rating) last released its quarterly results on Friday, April 29. The company reported earnings per share of $0.89 for the quarter, beating analyst consensus estimates of $0.84 by $0.05. Syneos Health had a return on equity of 13.33% and a net margin of 4.54%. The company posted revenue of $1.34 billion in the quarter, versus a consensus estimate of $1.32 billion. During the same period last year, the company achieved EPS of $0.66. The company’s quarterly revenue increased 10.5% year over year. Research analysts expect Syneos Health, Inc. to post EPS of 4.63 for the current year.

Analysts set new price targets

Several research analysts have weighed in on the company recently. Mizuho reaffirmed a “buy” rating and set a target price of $94.00 on Syneos Health shares in a Friday, May 20 research note. Guggenheim assumed coverage for Syneos Health in a Monday, May 23 research note. They set a “buy” rating and a target price of $81.00 for the company. Jefferies Financial Group downgraded Syneos Health from a “buy” rating to a “hold” rating and lowered its target price for the company from $101.00 to $75.00 in a Monday, April 25 research note. TheStreet upgraded Syneos Health from a “b” to a “c+” rating in a Wednesday, May 18 research note. Finally, StockNews.com kicked off coverage on Syneos Health in a Thursday, March 31 report. They set a “hold” rating for the company. Three research analysts gave the stock a hold rating and seven gave the company a buy rating. According to MarketBeat, Syneos Health has an average rating of “Moderate Buy” and a consensus target price of $97.11.

Institutional investors weigh on Syneos Health

Hedge funds and other institutional investors have recently changed their positions in the company. HighTower Advisors LLC increased its equity stake in Syneos Health by 1.1% during the 4th quarter. HighTower Advisors LLC now owns 11,206 shares of the company valued at $1,148,000 after acquiring 119 additional shares in the last quarter. Advisor Group Holdings Inc. increased its equity stake in Syneos Health by 0.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 27,972 shares of the company valued at $2,871,000 after acquiring 133 additional shares in the last quarter. The Alaska State Department of Revenue increased its holdings of Syneos Health stock by 1.0% in Q2. The Alaska State Department of Revenue now owns 14,732 shares of the company valued at $1,055,000 after acquiring 140 additional shares in the last quarter. First Horizon Advisors Inc. increased its equity stake in Syneos Health by 59.6% during the 4th quarter. First Horizon Advisors Inc. now owns 391 shares of the company valued at $39,000 after acquiring 146 additional shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Syneos Health shares by 2.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 6,702 shares of the company valued at $480,000 after acquiring 152 additional shares in the last quarter. 98.38% of the shares are held by hedge funds and other institutional investors.

Company Profile Syneos Health

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Syneos Health, Inc provides a biopharmaceutical outsourcing solutions company 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 Phases I through IV of clinical development.

Further reading

Insider buying and selling by quarter for Syneos Health (NASDAQ:SYNH)

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