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Top related persons:
Elliott - 2 Ken Squire - 2 Covance - 1 Fortrea - 1 Tom Pike - 1 Pike - 1 Catalent - 1 there's - 1
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Covance Labcorp Fortrea COOs North America
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Square - 2 Veritas Capital - 2 13D - 2 Fortrea - 1 Labcorp - 1 Development - 1 Elliott Management - 1 Inc - 1

Search resuls for: "Syneos Health"


10 mentions found


☆ Starboard may be poised to build value amicably at contract research firm Fortrea
  + stars: | 2023-10-21 | by ( Kenneth Squire | ) www.cnbc.com   time to read: +5 min
CROs work with drug companies through all stages of the drug development process, from drug discovery and preclinical development to Phase I through IV post-approval work. With a material portion of that outsourced, the CRO industry has grown accordingly. So, there are strong secular tailwinds driving growth for the CRO industry, but to be a successful contract research organization, it helps to have global scale. With peer margins and peer multiples, Starboard sees this as a $47 to $72 stock. Elliott Management recently partnered with Patient Square Capital and Veritas Capital to acquire Fortrea peer Syneos Health Inc (SYNH) for $7.1 billion.
Persons: Covance, Fortrea, Tom Pike, Pike, Elliott, Ken Squire Organizations: Fortrea, Labcorp, Development, Elliott Management, Square, Veritas Capital, Inc, pharma, 13D, Fortrea Holdings Locations: Covance, Labcorp, Fortrea
☆ Activist Elliott makes inroads at Catalent to build value. Here’s what could happen next
  + stars: | 2023-09-16 | by ( Kenneth Squire | ) www.cnbc.com   time to read: +7 min
This segment also handles the formulation, development and manufacturing for parenteral dose forms, including vials and prefilled syringes. Activist Commentary: Elliott is a very successful and astute activist investor, particularly in the technology sector. While as an activist Elliott will do whatever it feels is necessary to enhance shareholder value, in the past the firm has made significant use of the strategy of offering to acquire its portfolio companies as the best catalyst to enhance shareholder value. Like Catalent, Syneos is an outsourced pharma solutions company: It outsources R&D for pharmaceutical companies, whereas Catalent outsources manufacturing. If this does turn from a strategic review to an operational review, there is no guarantee that he keeps his job.
Persons: Catalent, there's, Elliott, Steven Barg, Frank D'Amelio, Stephanie Okey, Michelle Ryan, Johnson, Barg, Ryan, John Greisch, There's, Danaher, Alessandro Maselli, Ken Squire Organizations: Oral Technologies, Clinical, Pfizer, Rom Holdings, Bloomberg, Merck, Citrix Systems, Nielsen Holdings, Square, Veritas Capital, Syneos Health, 13D Locations: COOs, North America
☆ Hedge funds piled into these stocks in the first quarter
  + stars: | 2023-05-22 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
The Wall Street firm analyzed hundreds of 13F filings last week to find the most popular stocks hedge funds picked up over the volatile quarter. Hedge funds piled into Victoria's Secret in the first quarter, buying the dip in the lingerie retailer, which has seen its shares fall 29% this year. Hedge funds also increased their ownership in financial names Western Alliance and Western Union last quarter. To be sure, it's possible that some of the hedge funds were covering their short bets in this position. A number of biotech names were also high-conviction bets for hedge funds, including Syneos Health , Horizon Therapeutics and Ginkgo Bioworks.
☆ Investment consortium to buy Syneos Health in $7.1 bln deal
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +1 min
May 10 (Reuters) - An investment consortium, comprising of Elliott Investment Management, Patient Square Capital and Veritas Capital, has agreed to buy Syneos Health Inc (SYNH.O), in a deal valued at $7.1 billion, including debt, the contract research firm said on Wednesday. Syneos said the consortium will pay about $43 per share in cash, which represents a premium of about 12% to the company's last close of $38.45. The deal comes at a time when Syneos faces challenges in winning new business, as many of its clients, which includes medium-sized biotechs, have cut spending as they have found it difficult to raise funding in a post-COVID-19 market downturn. Deal comes days after a private-equity groups including Warburg Pincus and Advent International agreed to buy Baxter International (BAX.N) biopharma solutions unit for $4.25 billion. Reporting by Bhanvi Satija and Khushi Mandowara in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
☆ Investment consortium to take Syneos private for $4.46 billion
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +2 min
May 10 (Reuters) - An investment consortium, comprising of Elliott Investment Management, Patient Square Capital and Veritas Capital, has agreed to take Syneos Health Inc (SYNH.O) private for $4.46 billion, the contract research firm said on Wednesday. Syneos said the consortium will pay about $43 per share in cash, which represents a premium of about 12% to the company's last close of $38.45. The acquisition is valued at $7.1 billion including debt. Syneos, which helps pharmaceutical companies with clinical trials and marketing their drugs, currently carries a debt of nearly $3 billion. The company reported a total backlog of contracts of $9.83 billion, as of March 31, 2023, down from $11.63 billion at the end of the first quarter of 2022.
☆ Stocks making the biggest moves midday: Roblox, Icahn Enterprises, Rivian, Airbnb and more
  + stars: | 2023-05-10 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
On Tuesday, the company reported a smaller-than-expected quarterly loss and said it expects to still meet forward guidance targets. Its revenue of $661 million topped the $652 million expected from analysts polled by Refinitiv. Twilio anticipates between $980 million and $990 million in revenue, while analysts polled by Refinitiv were expecting $1.05 billion in revenue. On Tuesday, the company reported same-store sales and revenue for the first quarter missed analysts' expectations, according to FactSet. On Tuesday, Occidental posted first-quarter adjusted earnings per share of $1.09, which is less than the $1.24 estimate from analysts polled by FactSet.
☆ As earnings season winds down, investors turn to Tuesday's debt ceiling meeting
  + stars: | 2023-05-06 | by ( Zev Fima | ) www.cnbc.com   time to read: +12 min
With only a small fraction of the S & P 500 left to report quarterly earnings, investors are now turning their focus to another major hurdle for the markets and economy: the debt ceiling crisis. Earlier this week, we looked back to debt limit crisis of 2011 for potential lessons. The protracted fight ultimately ended in an agreement in early August of that year, but it was a choppy summertime ride for investors. Within the portfolio, Wynn Resorts will report Tuesday, after the closing bell, and Disney will report on Wednesday, after the closing bell. Estee Lauder (EL) and Emerson Electric (EMR) reported earnings before the opening bell.
☆ These stocks crushed it this week, including one name analysts expect to rally 95% from here
  + stars: | 2023-04-14 | by ( Alex Harring | ) www.cnbc.com   time to read: +3 min
Some individual stocks ran laps around the broader stock market this week. More than three-fourths of analysts covering the stock rate the stock a buy, with the average price target pointing to upside of 95.3% over the next year. Of these three stocks, only Bio-Techne is expected by the average analyst to see share prices rise in the next year. Outside of health, solar stocks Enphase and SunPower were also among the best performers this week. ENPH SPWR 5Y mountain Enphase and SunPower over the last 5 years — CNBC's Fred Imbert and Michael Bloom contributed to this report
☆ Exclusive: Syneos Health eyes sale of company as contract backlog shrinks-sources
  + stars: | 2023-02-27 | by ( David Carnevali Anirban Sen | David Carnevali | Anirban Sen | ) www.reuters.com   time to read: +3 min
Reuters reported in March 2020 that Syneos was working with investment bank Centerview Partners LLC to explore a sale. Syneos, which has a market capitalization of $3.9 billion and carries a $2.9 billion debt pile, was not immediately available for comment. Based in Morrisville, North Carolina, Syneos helps pharmaceutical companies with clinical trials and to market their drugs. There has been a wave of consolidation among contract research organizations in a bid to lower costs, amass more clinical trial data and win customers. Labcorp (LH.N), for example, said earlier this month that it will complete the spinoff of its contract research organization, called Fortrea, by the middle of this year.
☆ Stocks making the biggest moves after hours: Lyft, Take-Two Interactive, Tripadvisor and more
  + stars: | 2022-11-07 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +2 min
Lyft – Lyft stock sank 13% after the ridesharing company reported mixed earnings results. Take-Two Interactive – Shares of software company Take-Two sank 15% after reporting a miss on revenue and lowering their guidance for the rest of the fiscal year. Tripadvisor – Shares of Tripadvisor sank more than 15% in after hours trading following a miss on earnings. The company reported adjusted earnings per share of 28 cents where analysts expected adjusted earnings per share of 38 cents, according to Refinitiv. Groupon – Groupon's stock fell 4.8% after the company reported earnings that disappointed on the top and bottom lines.
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