Syneos Health (SYNH) Issues FY18 Earnings Guidance

Syneos Health (NASDAQ:SYNH) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $2.66-2.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.70. The company issued revenue guidance of $4.375-4.435 billion, compared to the consensus revenue estimate of $4.45 billion.Syneos Health also updated its FY 2018 guidance to EPS.

Several research firms have issued reports on SYNH. SunTrust Banks reissued a buy rating and set a $60.00 target price on shares of Syneos Health in a research note on Friday, August 3rd. William Blair raised Syneos Health from a market perform rating to an outperform rating in a research note on Friday, October 19th. ValuEngine raised Syneos Health from a sell rating to a hold rating in a research note on Saturday, September 22nd. Mizuho reissued a hold rating and set a $51.00 target price on shares of Syneos Health in a research note on Monday, August 6th. Finally, Barclays reissued a hold rating and set a $51.00 target price (up previously from $43.00) on shares of Syneos Health in a research note on Friday, August 3rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $53.91.

SYNH stock traded up $3.01 during midday trading on Tuesday, hitting $49.49. 915,232 shares of the company’s stock were exchanged, compared to its average volume of 504,625. Syneos Health has a 1-year low of $31.10 and a 1-year high of $59.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.01. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94.

Syneos Health (NASDAQ:SYNH) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.17. Syneos Health had a positive return on equity of 7.80% and a negative net margin of 4.32%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. The firm’s revenue was up 88.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Syneos Health will post 2.42 EPS for the current year.

In other news, major shareholder H. Lee Equity Fund Vi Thomas sold 6,000,000 shares of Syneos Health stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $49.73, for a total value of $298,380,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

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Syneos Health Company Profile

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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