Syneos Health (NASDAQ:SYNH) issued its earnings results on Monday. The company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.16, Morningstar.com reports. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Syneos Health had a return on equity of 9.60% and a net margin of 0.55%. Syneos Health’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 earnings per share. Syneos Health updated its FY 2019 guidance to $3.03-3.23 EPS and its FY19 guidance to $3.03-3.23 EPS.
Shares of NASDAQ:SYNH opened at $51.40 on Wednesday. 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 1 year low of $34.40 and a 1 year high of $56.34. The firm has a market cap of $4.89 billion, a P/E ratio of 19.62, a PEG ratio of 1.32 and a beta of 1.41.
Several analysts have recently commented on SYNH shares. SunTrust Banks decreased their target price on Syneos Health to $55.00 and set a “buy” rating for the company in a research report on Wednesday, December 19th. Zacks Investment Research raised Syneos Health from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Tuesday, December 18th. Robert W. Baird set a $60.00 price objective on Syneos Health and gave the stock a “buy” rating in a report on Tuesday, January 8th. ValuEngine upgraded Syneos Health from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Barclays cut their price objective on Syneos Health from $51.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, January 3rd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $52.70.
In related news, CEO Alistair Macdonald sold 6,697 shares of the stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $53.04, for a total transaction of $355,208.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in SYNH. JPMorgan Chase & Co. raised its holdings in shares of Syneos Health by 1,589.5% during the third quarter. JPMorgan Chase & Co. now owns 1,319,875 shares of the company’s stock worth $68,040,000 after acquiring an additional 1,241,754 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Syneos Health by 10.3% during the third quarter. BlackRock Inc. now owns 8,035,926 shares of the company’s stock worth $414,252,000 after acquiring an additional 751,050 shares in the last quarter. Norges Bank bought a new position in Syneos Health during the fourth quarter valued at about $24,850,000. Vanguard Group Inc raised its holdings in Syneos Health by 9.9% during the third quarter. Vanguard Group Inc now owns 6,914,223 shares of the company’s stock valued at $356,429,000 after buying an additional 624,991 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Syneos Health by 9.9% during the third quarter. Vanguard Group Inc. now owns 6,914,223 shares of the company’s stock valued at $356,429,000 after buying an additional 624,991 shares in the last quarter.
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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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