Should You Exit Your Position in Syneos Health (SYNH)?

·2 min read

Meridian Funds, managed by ArrowMark Partners, released its “Meridian Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 4.69% (net) compared to a 4.72% return for the Russell 2500 Growth Index. Positive factors during the quarter helped the fund’s performance. An emphasis on quality was beneficial for the fund in the upmarket. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Meridian Growth Fund highlighted stocks like Syneos Health, Inc. (NASDAQ:SYNH) in the Q4 2022 investor letter. Headquartered in Morrisville, North Carolina, Syneos Health, Inc. (NASDAQ:SYNH) is a biopharmaceutical company. On March 16, 2023, Syneos Health, Inc. (NASDAQ:SYNH) stock closed at $34.34 per share. One-month return of Syneos Health, Inc. (NASDAQ:SYNH) was -12.98%, and its shares lost 57.06% of their value over the last 52 weeks. Syneos Health, Inc. (NASDAQ:SYNH) has a market capitalization of $3.545 billion.

Meridian Growth Fund made the following comment about Syneos Health, Inc. (NASDAQ:SYNH) in its Q4 2022 investor letter:

"Syneos Health, Inc. (NASDAQ:SYNH), is a clinical research organization that partners with small and mid-sized biotech firms as well as large pharmaceutical companies to complete clinical trials. It has been one of the leading players in the market, but a CEO change last spring appears to have led to higher-than-usual turnover, which resulted in market share losses. Furthermore, the overall life sciences environment softened amid a drop-off in biotech funding and a reprioritization of pipelines and research and development efforts among large pharmaceutical firms. As its business model relies on a healthy backlog, Syneos’ ongoing issues appear to set it up for a tough 2023 from a fundamental standpoint, so we exited the position."


Syneos Health, Inc. (NASDAQ:SYNH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Syneos Health, Inc. (NASDAQ:SYNH) at the end of the fourth quarter which was 33 in the previous quarter.

We discussed Syneos Health, Inc. (NASDAQ:SYNH) in another article and shared the list of most undervalued pharma stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.