Schroder Investment Management Group Sells 130,103 Shares of Syneos Health Inc (SYNH)
Schroder Investment Management Group lessened its position in shares of Syneos Health Inc (NASDAQ:SYNH) by 22.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 456,005 shares of the company’s stock after selling 130,103 shares during the quarter. Schroder Investment Management Group owned approximately 0.44% of Syneos Health worth $21,387,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in shares of Syneos Health by 12.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 17,216 shares of the company’s stock worth $362,000 after purchasing an additional 1,841 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Syneos Health during the 2nd quarter worth approximately $2,732,000. Point72 Asset Management L.P. grew its holdings in shares of Syneos Health by 6.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 530,800 shares of the company’s stock worth $24,895,000 after purchasing an additional 33,200 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Syneos Health by 76.0% during the 2nd quarter. Bank of America Corp DE now owns 463,962 shares of the company’s stock worth $21,760,000 after purchasing an additional 200,382 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Syneos Health during the 2nd quarter worth approximately $3,493,000.
Syneos Health stock opened at $44.82 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.01. The company has a market cap of $5.30 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.22 and a beta of 0.81. Syneos Health Inc has a one year low of $31.10 and a one year high of $59.45.
SYNH has been the topic of several recent research reports. SunTrust Banks reissued a “buy” rating and set a $60.00 price objective on shares of Syneos Health in a report on Friday, August 3rd. KeyCorp lifted their price objective on Syneos Health from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. UBS Group initiated coverage on Syneos Health in a report on Tuesday. They set a “buy” rating and a $60.00 price objective on the stock. Evercore ISI initiated coverage on Syneos Health in a report on Thursday, October 4th. They set an “outperform” rating and a $58.00 price objective on the stock. Finally, Barclays reissued a “hold” rating and set a $51.00 price objective (up previously from $43.00) on shares of Syneos Health in a report on Friday, August 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Syneos Health presently has a consensus rating of “Buy” and an average price target of $53.91.
In related news, major shareholder H. Lee Equity Fund Vi Thomas sold 6,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $49.73, for a total transaction of $298,380,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by company insiders.
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 unbundled service offerings, such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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