Investors Buy High Volume of Call Options on Syneos Health (SYNH)

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Syneos Health Inc (NASDAQ:SYNH) was the recipient of some unusual options trading on Wednesday. Investors bought 887 call options on the stock. This represents an increase of approximately 1,286% compared to the typical daily volume of 64 call options.

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

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

A number of hedge funds have recently modified their holdings of SYNH. Lee Thomas H Partners LP bought a new stake in Syneos Health during the first quarter valued at about $893,707,000. BlackRock Inc. bought a new stake in Syneos Health during the first quarter valued at about $251,044,000. Dimensional Fund Advisors LP bought a new stake in Syneos Health during the first quarter valued at about $63,338,000. Redmile Group LLC bought a new stake in Syneos Health during the first quarter valued at about $54,177,000. Finally, Cooke & Bieler LP bought a new stake in Syneos Health during the first quarter valued at about $47,763,000.

Shares of SYNH stock opened at $48.35 on Thursday. Syneos Health has a 1-year low of $31.10 and a 1-year high of $59.45. The stock has a market cap of $5.13 billion, a P/E ratio of 22.76, a P/E/G ratio of 1.18 and a beta of 0.81. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.04 and a current ratio of 1.04.

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

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.

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