Analysts expect that Syneos Health Inc (NASDAQ:SYNH) will report $1.15 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Syneos Health’s earnings, with the highest sales estimate coming in at $1.17 billion and the lowest estimate coming in at $1.13 billion. Syneos Health posted sales of $750.47 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 53.2%. The company is scheduled to report its next earnings report on Wednesday, February 27th.
On average, analysts expect that Syneos Health will report full-year sales of $4.40 billion for the current financial year, with estimates ranging from $4.39 billion to $4.41 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.69 billion, with estimates ranging from $4.62 billion to $4.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Syneos Health.
Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.17. Syneos Health had a negative net margin of 0.84% and a positive return on equity of 8.67%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. The company’s revenue was up 88.3% compared to the same quarter last year.
SYNH has been the topic of several research reports. UBS Group initiated coverage on shares of Syneos Health in a report on Tuesday, October 9th. They issued a “buy” rating and a $60.00 price target on the stock. Zacks Investment Research lowered shares of Syneos Health from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. ValuEngine upgraded shares of Syneos Health from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Evercore ISI assumed coverage on shares of Syneos Health in a research note on Thursday, October 4th. They set an “outperform” rating and a $58.00 price objective on the stock. Finally, KeyCorp lifted their price objective on shares of Syneos Health from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Syneos Health has a consensus rating of “Buy” and a consensus target price of $54.90.
Several institutional investors and hedge funds have recently bought and sold shares of SYNH. JPMorgan Chase & Co. raised its stake 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 valued at $68,040,000 after purchasing an additional 1,241,754 shares during the period. BlackRock Inc. grew its position 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 buying an additional 751,050 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Syneos Health by 9.9% during the third quarter. Vanguard Group Inc. now owns 6,914,223 shares of the company’s stock worth $356,429,000 after buying an additional 624,991 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Syneos Health by 3,641.8% during the third quarter. Thrivent Financial for Lutherans now owns 473,191 shares of the company’s stock worth $24,393,000 after buying an additional 460,545 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Syneos Health by 13.3% during the third quarter. Clearbridge Investments LLC now owns 3,230,298 shares of the company’s stock worth $166,522,000 after buying an additional 379,235 shares in the last quarter.
NASDAQ SYNH opened at $47.98 on Friday. Syneos Health has a one year low of $31.10 and a one year high of $53.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $5.21 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97.
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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