Wall Street brokerages expect that Syneos Health, Inc. (NASDAQ:SYNH) will report sales of $1.19 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Syneos Health’s earnings. The highest sales estimate is $1.23 billion and the lowest is $1.18 billion. Syneos Health reported sales of $1.16 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The firm is expected to report its next earnings report on Thursday, April 29th.
According to Zacks, analysts expect that Syneos Health will report full-year sales of $5.22 billion for the current year, with estimates ranging from $5.19 billion to $5.25 billion. For the next fiscal year, analysts anticipate that the company will post sales of $5.63 billion, with estimates ranging from $5.56 billion to $5.68 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Syneos Health.
Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings results on Thursday, February 18th. The company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.12. Syneos Health had a net margin of 4.28% and a return on equity of 10.02%.
A number of equities research analysts have recently commented on the stock. TheStreet upgraded shares of Syneos Health from a “c+” rating to a “b-” rating in a report on Monday, November 30th. Mizuho raised their target price on shares of Syneos Health from $72.00 to $87.00 and gave the stock a “buy” rating in a report on Monday. Citigroup raised their target price on shares of Syneos Health from $80.00 to $85.00 in a report on Friday. Smith Barney Citigroup raised their target price on shares of Syneos Health from $75.00 to $80.00 in a report on Wednesday, December 9th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Syneos Health from $75.00 to $80.00 in a report on Wednesday, December 9th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Syneos Health has a consensus rating of “Buy” and an average target price of $73.31.
In related news, Director Thomas H. Lee Advisors, Llc sold 627 shares of the firm’s stock in a transaction on Thursday, December 3rd. The shares were sold at an average price of $61.28, for a total transaction of $38,422.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason M. Meggs sold 4,062 shares of the firm’s stock in a transaction on Friday, November 27th. The shares were sold at an average price of $67.00, for a total transaction of $272,154.00. Following the transaction, the chief financial officer now directly owns 66,003 shares of the company’s stock, valued at $4,422,201. The disclosure for this sale can be found here. Insiders have sold a total of 3,313,515 shares of company stock worth $204,210,569 over the last 90 days. Insiders own 0.44% of the company’s stock.
Large investors have recently modified their holdings of the business. Prospera Financial Services Inc purchased a new position in shares of Syneos Health during the 3rd quarter worth about $48,000. Harbor Investment Advisory LLC boosted its stake in shares of Syneos Health by 91.6% during the 3rd quarter. Harbor Investment Advisory LLC now owns 1,004 shares of the company’s stock worth $53,000 after purchasing an additional 480 shares during the period. AJO LP purchased a new position in shares of Syneos Health during the 4th quarter worth about $72,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Syneos Health by 50.6% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,286 shares of the company’s stock worth $88,000 after purchasing an additional 432 shares during the period. Finally, LSV Asset Management purchased a new position in shares of Syneos Health during the 3rd quarter worth about $148,000. 99.90% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:SYNH traded down $0.90 during trading on Tuesday, reaching $73.11. 452,690 shares of the stock traded hands, compared to its average volume of 661,983. The stock has a 50-day moving average of $75.82 and a two-hundred day moving average of $64.86. Syneos Health has a 52-week low of $30.02 and a 52-week high of $81.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $7.63 billion, a P/E ratio of 40.66 and a beta of 1.85.
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 clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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