Syneos Health (NASDAQ:SYNH) released its earnings results on Tuesday. The company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.17, MarketWatch Earnings reports. Syneos Health had a positive return on equity of 7.80% and a negative net margin of 4.32%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Syneos Health’s revenue was up 88.3% compared to the same quarter last year. Syneos Health updated its FY 2018 guidance to EPS and its FY18 guidance to $2.66-2.80 EPS.
NASDAQ SYNH traded up $0.98 during trading on Wednesday, reaching $50.86. 46,459 shares of the company’s stock were exchanged, compared to its average volume of 504,625. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.04 and a quick ratio of 1.04. Syneos Health has a 1 year low of $31.10 and a 1 year high of $59.45.
SYNH has been the subject of several analyst reports. UBS Group initiated coverage on Syneos Health in a research note on Tuesday, October 9th. They set a “buy” rating and a $60.00 target price for the company. 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. 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. Barclays reaffirmed a “hold” rating and set a $51.00 price target (up from $43.00) on shares of Syneos Health in a report on Friday, August 3rd. Finally, ValuEngine raised Syneos Health from a “sell” rating to a “hold” rating in a report on Saturday, September 22nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Syneos Health has a consensus rating of “Buy” and a consensus price target of $53.91.
In other Syneos Health news, major shareholder H. Lee Equity Fund Vi Thomas sold 6,000,000 shares of Syneos Health stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $49.73, for a total transaction of $298,380,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Natixis purchased a new stake in shares of Syneos Health in the 2nd quarter valued at about $3,493,000. Rhumbline Advisers lifted its holdings in shares of Syneos Health by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 102,793 shares of the company’s stock valued at $4,821,000 after purchasing an additional 5,950 shares during the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Syneos Health in the 1st quarter valued at about $3,560,000. Bbva Compass Bancshares Inc. lifted its holdings in shares of Syneos Health by 207.7% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 17,873 shares of the company’s stock valued at $838,000 after purchasing an additional 12,065 shares during the last quarter. Finally, BB&T Corp purchased a new stake in shares of Syneos Health in the 2nd quarter valued at about $244,000.
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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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