Syneos Health (SYNH) Downgraded by Zacks Investment Research to Hold
Syneos Health (NASDAQ:SYNH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “INC Research Holdings, Inc. is a global contract research organization. It provides the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Its services include clinical trial management services comprising patient recruitment and retention, project management, clinical monitoring, drug safety/pharmacovigilance, medical affairs, quality assurance, regulatory and medical writing, and functional service; and data services consisting of clinical data management, electronic data capture, and biostatistics. INC Research Holdings, Inc. is headquartered in Raleigh, North Carolina. “
SYNH has been the subject of several other reports. Barclays reissued an “equal weight” rating and issued a $43.00 target price (up from $40.00) on shares of Syneos Health in a report on Thursday, March 1st. Credit Suisse Group reduced their target price on Syneos Health from $68.00 to $54.00 and set an “outperform” rating for the company in a report on Tuesday, November 14th. Robert W. Baird set a $46.00 target price on Syneos Health and gave the company a “buy” rating in a report on Thursday, November 16th. BidaskClub raised Syneos Health from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Wells Fargo & Co raised Syneos Health from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.78.
In related news, CAO Christopher L. Gaenzle sold 1,470 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $41.00, for a total value of $60,270.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.
A number of hedge funds have recently modified their holdings of SYNH. Geode Capital Management LLC acquired a new position in Syneos Health during the 4th quarter worth approximately $23,570,000. Municipal Employees Retirement System of Michigan acquired a new position in Syneos Health during the 4th quarter worth approximately $741,000. Finally, Globeflex Capital L P acquired a new position in Syneos Health during the 4th quarter worth approximately $210,000.
Syneos Health Company Profile
Syneos Health, Inc, formerly INC Research Holdings, Inc, is a global contract research organization (CRO). The Company focuses on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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