Massachusetts Financial Services Co. MA Raises Stock Holdings in Syneos Health, Inc. (NASDAQ:SYNH)

Massachusetts Financial Services Co. MA boosted its holdings in Syneos Health, Inc. (NASDAQ:SYNH) by 46.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 361,998 shares of the company’s stock after buying an additional 115,025 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Syneos Health were worth $27,458,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Blair William & Co. IL bought a new stake in shares of Syneos Health during the 1st quarter valued at about $324,000. Bank of Montreal Can grew its stake in shares of Syneos Health by 16.9% during the 1st quarter. Bank of Montreal Can now owns 6,559 shares of the company’s stock valued at $515,000 after purchasing an additional 946 shares during the period. Baird Financial Group Inc. bought a new position in shares of Syneos Health during the 1st quarter valued at approximately $1,114,000. Aviva PLC bought a new position in shares of Syneos Health during the 1st quarter valued at approximately $1,432,000. Finally, Platinum Investment Management Ltd. grew its stake in shares of Syneos Health by 28.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 61,213 shares of the company’s stock valued at $4,643,000 after acquiring an additional 13,374 shares during the period. 90.68% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Alistair Macdonald sold 17,398 shares of the stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $77.61, for a total transaction of $1,350,258.78. Following the sale, the chief executive officer now owns 231,907 shares in the company, valued at approximately $17,998,302.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Donna Hildebrand Kralowetz sold 590 shares of the stock in a transaction on Friday, June 18th. The shares were sold at an average price of $85.03, for a total value of $50,167.70. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $600,056.71. The disclosure for this sale can be found here. Insiders have sold a total of 6,811,772 shares of company stock worth $552,928,354 over the last ninety days. Insiders own 0.29% of the company’s stock.

A number of research analysts recently issued reports on the company. KeyCorp boosted their price objective on Syneos Health from $76.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, March 8th. Mizuho boosted their price objective on Syneos Health from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Barclays began coverage on Syneos Health in a research note on Monday, March 8th. They issued an “equal weight” rating and a $84.00 price target for the company. Finally, Truist Securities upped their price target on Syneos Health from $88.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, June 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Syneos Health has an average rating of “Buy” and a consensus price target of $83.50.

Shares of SYNH opened at $86.31 on Friday. The stock has a market cap of $9.00 billion, a PE ratio of 45.91 and a beta of 1.84. Syneos Health, Inc. has a 1 year low of $50.26 and a 1 year high of $90.10. The business’s 50 day moving average price is $85.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.89.

Syneos Health (NASDAQ:SYNH) last issued its quarterly earnings data on Thursday, April 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.17. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Syneos Health had a return on equity of 10.23% and a net margin of 4.44%. As a group, analysts expect that Syneos Health, Inc. will post 3.83 earnings per share for the current year.

About Syneos Health

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

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