Pictet Asset Management Ltd. Increases Holdings in Syneos Health Inc (SYNH)

Pictet Asset Management Ltd. raised its position in Syneos Health Inc (NASDAQ:SYNH) by 12.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 521,784 shares of the company’s stock after acquiring an additional 58,806 shares during the period. Pictet Asset Management Ltd.’s holdings in Syneos Health were worth $26,898,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SYNH. BlackRock Inc. boosted its position in shares of Syneos Health by 10.3% during the third quarter. BlackRock Inc. now owns 8,035,926 shares of the company’s stock valued at $414,252,000 after buying an additional 751,050 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Syneos Health by 1,589.5% during the third quarter. JPMorgan Chase & Co. now owns 1,319,875 shares of the company’s stock valued at $68,040,000 after buying an additional 1,241,754 shares during the last quarter. GW&K Investment Management LLC boosted its position in shares of Syneos Health by 6.2% during the third quarter. GW&K Investment Management LLC now owns 1,013,737 shares of the company’s stock valued at $52,258,000 after buying an additional 58,924 shares during the last quarter. Boston Partners boosted its position in Syneos Health by 4.0% in the second quarter. Boston Partners now owns 733,156 shares of the company’s stock worth $34,385,000 after purchasing an additional 28,205 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Syneos Health by 7.2% in the third quarter. Bank of New York Mellon Corp now owns 700,109 shares of the company’s stock worth $36,091,000 after purchasing an additional 47,151 shares during the last quarter.

NASDAQ:SYNH opened at $51.72 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.99. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 1.20 and a beta of 0.97. Syneos Health Inc has a 52 week low of $31.10 and a 52 week high of $53.95.

Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.17. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Syneos Health had a positive return on equity of 8.67% and a negative net margin of 0.84%. The firm’s quarterly revenue was up 88.3% on a year-over-year basis. As a group, analysts predict that Syneos Health Inc will post 2.47 earnings per share for the current fiscal year.

Several brokerages have issued reports on SYNH. Mizuho restated a “hold” rating and issued a $51.00 target price on shares of Syneos Health in a research note on Monday, August 6th. ValuEngine lowered Syneos Health from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Zacks Investment Research upgraded Syneos Health from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Tuesday, November 20th. KeyCorp boosted their target price on Syneos Health from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Finally, William Blair upgraded Syneos Health from a “market perform” rating to an “outperform” rating in a report on Friday, October 19th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.70.

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About Syneos Health

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.

See Also: Balance Sheet

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Institutional Ownership by Quarter for Syneos Health (NASDAQ:SYNH)

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