Redmile Group LLC reduced its stake in Syneos Health Inc (NASDAQ:SYNH) by 35.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 981,673 shares of the company’s stock after selling 544,431 shares during the period. Syneos Health accounts for approximately 1.6% of Redmile Group LLC’s holdings, making the stock its 23rd biggest position. Redmile Group LLC owned approximately 0.95% of Syneos Health worth $46,040,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SYNH. Lee Thomas H Partners LP acquired a new stake in shares of Syneos Health in the 1st quarter worth approximately $893,707,000. BlackRock Inc. acquired a new stake in shares of Syneos Health in the 1st quarter worth approximately $251,044,000. Dimensional Fund Advisors LP acquired a new stake in shares of Syneos Health in the 1st quarter worth approximately $63,338,000. Cooke & Bieler LP acquired a new stake in shares of Syneos Health in the 1st quarter worth approximately $47,763,000. Finally, Northern Trust Corp acquired a new stake in shares of Syneos Health in the 1st quarter worth approximately $37,074,000.

In other news, major shareholder H. Lee Equity Fund Vi Thomas sold 6,000,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $49.73, for a total transaction of $298,380,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.57% of the stock is owned by insiders.

SYNH stock opened at $47.20 on Tuesday. Syneos Health Inc has a 12 month low of $31.10 and a 12 month high of $59.45. The company has a market cap of $4.79 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.10 and a beta of 0.81. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.01.

Syneos Health (NASDAQ:SYNH) last released its earnings results on Thursday, August 2nd. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Syneos Health had a negative net margin of 4.32% and a positive return on equity of 7.80%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.09 billion. The firm’s quarterly revenue was up 315.5% on a year-over-year basis. equities analysts predict that Syneos Health Inc will post 2.42 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on SYNH shares. Zacks Investment Research raised shares of Syneos Health from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Wednesday, May 16th. ValuEngine raised shares of Syneos Health from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Barclays reissued a “hold” rating and set a $51.00 target price (up from $43.00) on shares of Syneos Health in a research note on Friday, August 3rd. SunTrust Banks reissued a “buy” rating and set a $60.00 target price on shares of Syneos Health in a research note on Friday, August 3rd. Finally, Mizuho reissued a “hold” rating and set a $51.00 target price on shares of Syneos Health in a research note on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $52.78.

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.

Further Reading: Understanding Price to Earnings Ratio (PE)

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

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