Insider Buying: Syneos Health Inc (NASDAQ:SYNH) CFO Buys $130,610.70 in Stock

Syneos Health Inc (NASDAQ:SYNH) CFO Jason M. Meggs purchased 3,555 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $36.74 per share, for a total transaction of $130,610.70. Following the purchase, the chief financial officer now owns 63,784 shares in the company, valued at $2,343,424.16. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

SYNH stock opened at $42.93 on Thursday. The stock has a 50-day moving average price of $58.95 and a two-hundred day moving average price of $56.54. The stock has a market cap of $3.53 billion, a PE ratio of 34.62 and a beta of 1.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.93. Syneos Health Inc has a 1 year low of $30.02 and a 1 year high of $74.25.

Syneos Health (NASDAQ:SYNH) last released its earnings results on Thursday, February 20th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Syneos Health had a return on equity of 10.12% and a net margin of 2.81%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. On average, analysts forecast that Syneos Health Inc will post 3.03 earnings per share for the current fiscal year.

SYNH has been the topic of several research analyst reports. Barclays reaffirmed a “hold” rating and set a $67.00 price objective on shares of Syneos Health in a research note on Sunday, February 23rd. ValuEngine raised Syneos Health from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Robert W. Baird raised their price objective on Syneos Health from $74.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Credit Suisse Group raised their price objective on Syneos Health from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Finally, Citigroup initiated coverage on Syneos Health in a research note on Monday, January 6th. They set a “buy” rating and a $75.00 price objective on the stock. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $67.30.

A number of hedge funds have recently added to or reduced their stakes in the business. ArrowMark Colorado Holdings LLC increased its holdings in Syneos Health by 5.5% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,311,715 shares of the company’s stock worth $137,489,000 after purchasing an additional 120,024 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Syneos Health by 87.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,572,457 shares of the company’s stock valued at $93,522,000 after acquiring an additional 734,221 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Syneos Health by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 913,161 shares of the company’s stock valued at $54,310,000 after acquiring an additional 23,622 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Syneos Health by 8.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 790,744 shares of the company’s stock valued at $47,029,000 after acquiring an additional 60,769 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Syneos Health in the 4th quarter valued at about $43,458,000.

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.

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