Nuveen Asset Management LLC trimmed its position in Syneos Health, Inc. (NASDAQ:SYNH) by 16.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 296,588 shares of the company’s stock after selling 58,753 shares during the quarter. Nuveen Asset Management LLC’s holdings in Syneos Health were worth $20,207,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Syneos Health by 5.5% during the fourth quarter. BlackRock Inc. now owns 7,472,701 shares of the company’s stock worth $509,116,000 after purchasing an additional 387,785 shares in the last quarter. Clearbridge Investments LLC grew its stake in Syneos Health by 3.9% during the 4th quarter. Clearbridge Investments LLC now owns 3,565,709 shares of the company’s stock worth $242,932,000 after buying an additional 132,484 shares during the last quarter. Mackenzie Financial Corp increased its position in Syneos Health by 8.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,201,818 shares of the company’s stock valued at $218,140,000 after buying an additional 247,896 shares in the last quarter. Bank of New York Mellon Corp increased its position in Syneos Health by 20.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,768,756 shares of the company’s stock valued at $120,505,000 after buying an additional 300,770 shares in the last quarter. Finally, GW&K Investment Management LLC raised its stake in Syneos Health by 2.6% in the fourth quarter. GW&K Investment Management LLC now owns 1,558,428 shares of the company’s stock valued at $106,176,000 after buying an additional 39,124 shares during the last quarter. Institutional investors own 99.90% of the company’s stock.
Shares of NASDAQ:SYNH opened at $76.45 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. Syneos Health, Inc. has a 12-month low of $40.42 and a 12-month high of $81.35. The business has a 50 day moving average of $75.60 and a two-hundred day moving average of $68.20. The company has a market capitalization of $7.97 billion, a PE ratio of 42.01 and a beta of 1.85.
Several equities analysts have recently issued reports on SYNH shares. Citigroup increased their price objective on shares of Syneos Health from $80.00 to $85.00 in a research report on Friday, February 19th. Mizuho upped their price target on shares of Syneos Health from $72.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, February 22nd. KeyCorp lifted their price objective on shares of Syneos Health from $76.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, March 15th. Barclays assumed coverage on Syneos Health in a research report on Monday, March 8th. They issued an “equal weight” rating and a $84.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Syneos Health from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 9th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $78.00.
In other news, CEO Alistair Macdonald sold 64,497 shares of the business’s stock in a transaction that occurred on Tuesday, February 2nd. The stock was sold at an average price of $75.71, for a total value of $4,883,067.87. Also, Director John L. Maldonado sold 4,654,046 shares of the business’s stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $74.17, for a total value of $345,190,591.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,758,587 shares of company stock valued at $353,153,609. Insiders own 0.44% of the company’s stock.
Syneos Health Company Profile
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 various services spanning Phases I to IV of clinical development, including full service global studies, as well as individual service offerings, such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with their drug development process.
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