Syneos Health Inc. [SYNH] stock for 39,000 USD was sold by Brooks Michael Lee

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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Syneos Health Inc. shares valued at $39,000 were sold by Brooks Michael Lee on Jul 28. At $78.00 per share, Brooks Michael Lee sold 500 shares. The insider’s holdings dropped to 9,342 shares worth approximately $0.45 million following the completion of this transaction.


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Also, Brooks Michael Lee sold 1,002 shares, netting a total of over 78,156 in proceeds. Following the sale of shares at $78.00 each, the insider now holds 47,552 shares.

Before that, Brooks Michael Lee had sold 500 shares from its account. In a trade valued at $38,000, the Chief Operating Officer traded Syneos Health Inc. shares for $76.00 each. Upon closing the transaction, the insider’s holdings decreased to 500 shares, worth approximately $0.47 million.

As published in a research note from JP Morgan on October 18, 2022, Syneos Health Inc. [SYNH] has been rated down from an Overweight to a Neutral and the price target has been revised to $53 from $85. This represents a 9.79% premium over Thursday’s closing price. Analysts at Guggenheim downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid September. As of September 07, 2022, UBS has initiated its “Neutral” rating for SYNH. Earlier on May 24, 2022, Guggenheim initiated its rating. Their recommendation was “a Buy” for SYNH stock.

Analyzing SYNH Stock Performance

On Thursday, Syneos Health Inc. [NASDAQ: SYNH] plunged -2.47% to $47.81. The stock’s lowest price that day was $47.02, but it reached a high of $48.33 in the same session. During the last five days, there has been a drop of approximately -3.47%. Over the course of the year, Syneos Health Inc. shares have dropped approximately -53.44%. Shares of the company reached a 52-week high of $102.67 on 01/03/22 and a 52-week low of $44.22 on 10/13/22. A 50-day SMA is recorded $51.93, while a 200-day SMA reached $69.84. Nevertheless, trading volume fell to 1.77 million shares from 0.96 million shares the previous day.

Support And Resistance Levels for Syneos Health Inc. (SYNH)

According to the 24-hour chart, there is a support level at 47.11, which, if violated, would cause prices to drop to 46.41. In the upper region, resistance lies at 48.42. The next price resistance is at 49.03. RSI (Relative Strength Index) is 42.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.33, which suggests the price will decrease in the coming days. Percent R is at 65.38%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Syneos Health Inc. subject to short interest?

Stocks of Syneos Health Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.16 million shares to 2.15 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.99 million shares. A jump of 7.44% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.61 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.61.

Which companies own the most shares of Syneos Health Inc. (SYNH)?

According to The Vanguard Group, Inc. filings, the company currently owns 9,530,542 shares, which is about 9.28% of the total SYNH shares outstanding. The investor’s shares have plunged by -63,355 from its previous 13-F filing of 9593897.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $441,174,346. Wellington Management Co. LLP reduced a -5.06% interest valued at $422.19 million while ClearBridge Investments LLC purchased a 219,576 stake. A total of -158,318 shares of Syneos Health Inc. were bought by Fidelity Management & Research Co during the quarter, and 262,865 were bought by Massachusetts Financial Services. In its current portfolio, Cooke & Bieler LP holds 2,836,728 shares valued at $133.75 million.

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