Deutsche Bank AG reduced its holdings in shares of Syneos Health, Inc. (NASDAQ:SYNH) by 95.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,337 shares of the company’s stock after selling 596,975 shares during the quarter. Deutsche Bank AG’s holdings in Syneos Health were worth $2,269,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of SYNH. Harvest Fund Management Co. Ltd purchased a new position in Syneos Health in the first quarter valued at about $45,000. First Mercantile Trust Co. bought a new position in shares of Syneos Health in the 2nd quarter worth $86,000. IFP Advisors Inc boosted its stake in shares of Syneos Health by 1,030.8% in the 2nd quarter. IFP Advisors Inc now owns 1,029 shares of the company’s stock valued at $92,000 after purchasing an additional 938 shares in the last quarter. PNC Managed Account Solutions Inc. purchased a new stake in shares of Syneos Health in the 2nd quarter valued at $103,000. Finally, FORA Capital LLC purchased a new stake in shares of Syneos Health in the 1st quarter valued at $106,000. Hedge funds and other institutional investors own 97.17% of the company’s stock.
NASDAQ:SYNH opened at $86.83 on Thursday. Syneos Health, Inc. has a 1-year low of $51.04 and a 1-year high of $97.47. The company has a 50-day moving average of $90.71 and a 200 day moving average of $87.27. The firm has a market cap of $8.99 billion, a PE ratio of 38.76 and a beta of 1.80. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.10 and a quick ratio of 1.10.
In other Syneos Health news, CFO Jason M. Meggs sold 9,223 shares of Syneos Health stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $95.00, for a total transaction of $876,185.00. Following the transaction, the chief financial officer now owns 51,478 shares of the company’s stock, valued at $4,890,410. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Alistair Macdonald sold 35,553 shares of the business’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $87.96, for a total value of $3,127,241.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,194 shares of company stock worth $4,041,882 in the last quarter. Insiders own 0.29% of the company’s stock.
SYNH has been the subject of several research reports. Barclays upped their price objective on shares of Syneos Health from $90.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 13th. Credit Suisse Group raised their price target on shares of Syneos Health from $96.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, August 5th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $90.67.
Syneos Health Company Profile
Syneos Health, Inc provides outsourced clinical development and commercialization services to biopharmaceutical companies. It operates through the following business segments: Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers clinical development services spanning Phase I to Phase IV, including 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 their drug development process.
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