Peregrine Capital Management LLC Trims Stock Holdings in Syneos Health Inc (NASDAQ:SYNH)
Peregrine Capital Management LLC trimmed its position in Syneos Health Inc (NASDAQ:SYNH) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 643,165 shares of the company’s stock after selling 1,497 shares during the period. Syneos Health comprises 0.8% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Peregrine Capital Management LLC’s holdings in Syneos Health were worth $32,859,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. ClariVest Asset Management LLC grew its stake in shares of Syneos Health by 267.9% in the first quarter. ClariVest Asset Management LLC now owns 174,541 shares of the company’s stock worth $9,035,000 after acquiring an additional 127,098 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Syneos Health by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 738,567 shares of the company’s stock worth $29,061,000 after acquiring an additional 50,175 shares during the last quarter. Dupont Capital Management Corp grew its stake in shares of Syneos Health by 152.0% in the first quarter. Dupont Capital Management Corp now owns 39,606 shares of the company’s stock worth $2,050,000 after acquiring an additional 23,889 shares during the last quarter. Strs Ohio grew its stake in shares of Syneos Health by 1.4% in the first quarter. Strs Ohio now owns 29,300 shares of the company’s stock worth $1,516,000 after acquiring an additional 400 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Syneos Health in the fourth quarter worth $574,000.
A number of brokerages have recently issued reports on SYNH. Zacks Investment Research downgraded Hammerson from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Wolfe Research began coverage on Iqvia in a report on Tuesday, April 2nd. They set a “market perform” rating on the stock. ValuEngine raised Yandex from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Finally, Barclays set a $24.00 price target on Tenet Healthcare and gave the company a “hold” rating in a report on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $53.33.
Syneos Health (NASDAQ:SYNH) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. Syneos Health had a return on equity of 9.55% and a net margin of 0.42%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, sell-side analysts expect that Syneos Health Inc will post 2.67 EPS for the current year.
Syneos Health Profile
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 clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
Further Reading: What is Net Asset Value (NAV)?
Want to see what other hedge funds are holding SYNH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Syneos Health Inc (NASDAQ:SYNH).
Receive News & Ratings for Syneos Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syneos Health and related companies with MarketBeat.com's FREE daily email newsletter.