Syneos Health (SYNH) Updates FY 2019 Earnings Guidance

Syneos Health (NASDAQ:SYNH) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.03-3.23 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.07. The company issued revenue guidance of $4.62-4.73 billion, compared to the consensus revenue estimate of $4.68 billion.

Shares of NASDAQ:SYNH traded up $0.50 on Monday, hitting $47.42. The company had a trading volume of 884,527 shares, compared to its average volume of 781,267. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. Syneos Health has a 52-week low of $34.40 and a 52-week high of $56.34. The company has a market capitalization of $4.29 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.19 and a beta of 1.41.

Several analysts have recently issued reports on SYNH shares. SunTrust Banks reduced their price objective on Syneos Health to $55.00 and set a buy rating on the stock in a research report on Wednesday, December 19th. Zacks Investment Research lowered Syneos Health from a buy rating to a hold rating in a research note on Friday, November 30th. ValuEngine upgraded Syneos Health from a hold rating to a buy rating in a research note on Monday, February 4th. Barclays dropped their target price on Syneos Health from $51.00 to $45.00 and set an equal weight rating for the company in a research note on Thursday, January 3rd. Finally, Robert W. Baird set a $60.00 target price on Syneos Health and gave the company a buy rating in a research note on Tuesday, January 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Syneos Health currently has a consensus rating of Buy and an average price target of $53.44.

In related news, CEO Alistair Macdonald sold 6,697 shares of the company’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $53.04, for a total value of $355,208.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

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About Syneos Health

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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