The Potential Rise in the Price of Syneos Health Inc. (SYNH) following insiders activity

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Syneos Health Inc.’s recently made public that its Chief Operating Officer Brooks Michael Lee unloaded Company’s shares for reported $39000.0 on Jul 28. In the deal valued at $78.00 per share,500 shares were sold. As a result of this transaction, Brooks Michael Lee now holds 9,342 shares worth roughly $ 0.28 million.


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Then, Brooks Michael Lee sold 1,002 shares, generating $78,156 in total proceeds. Upon selling the shares at $78.00, the Chief Operating Officer now owns 47,552 shares.

Before that, Brooks Michael Lee sold 500 shares. Syneos Health Inc. shares valued at $38,000 were divested by the Chief Operating Officer at a price of $76.00 per share. As a result of the transaction, Brooks Michael Lee now holds 9,842 shares, worth roughly $0.3 million.

Evercore ISI downgraded its Syneos Health Inc. [SYNH] rating to an In-line from a an Outperform in a research note published on Monday, November 07, 2022; the price target was decreased to $27 from $55. PT values the company’s stock at a premium of -11.11 to its Monday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in mid October from “an Overweight” to “a Neutral”. Guggenheim also remained covering SYNH and has decreased its forecast on September 14, 2022 with a “Neutral” recommendation from previously “Buy” rating. UBS started covering the stock on September 07, 2022. It rated SYNH as “a Neutral”.

Price Performance Review of SYNH

On Monday, Syneos Health Inc. [NASDAQ:SYNH] saw its stock jump 16.73% to $30.00. On the same session, the stock had its day’s lowest price of $25.45, but rose to a high of $31.2737. Over the last five days, the stock has lost -40.45%. Syneos Health Inc. shares have fallen nearly -70.78% since the year began. Nevertheless, the stocks have fallen -69.97% over the past one year. While a 52-week high of $104.18 was reached on 01/03/22, a 52-week low of $22.89 was recorded on 11/04/22. SMA at 50 days reached $50.50, while 200 days put it at $69.25. A total of 5.25 million shares were traded, compared to the trading of 0.94 million shares in the previous session.

Levels Of Support And Resistance For SYNH Stock

The 24-hour chart illustrates a support level at 26.54, which if violated will result in even more drops to 23.08. On the upside, there is a resistance level at 32.37. A further resistance level may holdings at 34.73. The Relative Strength Index (RSI) on the 14-day chart is 25.81, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -11.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.78%. Stochastics %K at 22.80% indicates the stock is a holding.

How much short interest is there in Syneos Health Inc.?

A steep rise in short interest was recorded in Syneos Health Inc. stocks on Jul 14, 2022, growing by 0.16 million shares to a total of 2.15 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 1.99 million shares. There was a rise of 7.44%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.10% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.61.

Syneos Health Inc. [SYNH] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 9,530,542 shares, or roughly 9.28% of the outstanding SYNH shares. In other words, the investor’s shares have fallen by -63,355 from its previous 13-F filing of 9593897.0. Additionally, BlackRock Fund Advisors increased 1.63% of its stake after which the total value it holdings stand at $441,174,346, while Wellington Management Co. LLP reduced -5.06% of its stake to hold $422.19 million in the firm. Over the last quarter, ClearBridge Investments LLC purchased 219,576 shares of Syneos Health Inc., while Fidelity Management & Research Co bought -158,318 shares. At present, Massachusetts Financial Services is holding 3,131,665 shares valued at $147.66 million. Cooke & Bieler LP owned 2,836,728 shares of the company at the time of its most recent 13F filing, worth $133.75 million.

According to FactSet, Syneos Health Inc.’s share price will average $51.40 in the next year, based on opinions of analysts polled by the firm. This is up nearly 110.12 percent from its previous closing price of $25.70. Analysts expect Syneos Health Inc. stock to reach the higher price of $77.00, while the lowest price estimate is $27.00. However, 13 analysts have rated SYNH stock as a Hold in their predictions for 2022. The most recent change occurred on May 24, 2022 when Guggenheim began covering the stock and recommended ‘”a Buy”‘ rating along with a $81 price target.

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