Teza Capital Management LLC Makes New Investment in Syneos Health, Inc. (NASDAQ:SYNH)

Posted by Defense World Staff on Mar 13th, 2023

Teza Capital Management LLC acquired a new position in Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,221 shares of the company’s stock, valued at approximately $340,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Syneos Health in the second quarter valued at $28,000. CWM LLC lifted its stake in Syneos Health by 51.7% in the third quarter. CWM LLC now owns 634 shares of the company’s stock valued at $30,000 after buying an additional 216 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in Syneos Health in the third quarter valued at $31,000. Meeder Asset Management Inc. lifted its stake in Syneos Health by 181.8% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $33,000 after buying an additional 300 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Syneos Health by 147.1% in the third quarter. Rockefeller Capital Management L.P. now owns 897 shares of the company’s stock valued at $42,000 after buying an additional 534 shares during the last quarter. 93.51% of the stock is currently owned by institutional investors.

Syneos Health Price Performance

Shares of Syneos Health stock opened at $35.23 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $36.89 and its two-hundred day moving average price is $41.49. Syneos Health, Inc. has a 52 week low of $22.89 and a 52 week high of $85.45. The stock has a market cap of $3.64 billion, a PE ratio of 13.71 and a beta of 1.66.

Syneos Health (NASDAQ:SYNH – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.07 by $0.08. Syneos Health had a net margin of 4.94% and a return on equity of 13.19%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. As a group, sell-side analysts anticipate that Syneos Health, Inc. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SYNH shares. Robert W. Baird raised their target price on Syneos Health from $42.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. JPMorgan Chase & Co. cut shares of Syneos Health from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $30.00 to $28.00 in a research note on Monday, February 13th. Barclays lifted their price objective on shares of Syneos Health from $30.00 to $45.00 and gave the company an “underweight” rating in a research note on Wednesday, March 1st. Finally, Mizuho restated a “neutral” rating and set a $38.00 price objective on shares of Syneos Health in a research note on Friday, February 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $54.00.

Syneos Health Company Profile

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Syneos Health, Inc engages in the provision of biopharmaceutical solutions. It operates through the Clinical Solutions and Commercial Solutions segments. The Clinical Solutions segment offers global services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics that span Phase I to IV of clinical development.