Wall Street analysts expect Syneos Health Inc (NASDAQ:SYNH) to report sales of $1.00 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Syneos Health’s earnings, with estimates ranging from $997.55 million to $1.01 billion. Syneos Health posted sales of $1.17 billion during the same quarter last year, which would indicate a negative year over year growth rate of 14.5%. The company is scheduled to announce its next quarterly earnings report on Tuesday, August 4th.
According to Zacks, analysts expect that Syneos Health will report full-year sales of $4.42 billion for the current year, with estimates ranging from $4.31 billion to $4.65 billion. For the next year, analysts forecast that the firm will report sales of $4.99 billion, with estimates ranging from $4.67 billion to $5.28 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Syneos Health.
Syneos Health (NASDAQ:SYNH) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Syneos Health had a net margin of 4.13% and a return on equity of 10.33%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $0.59 EPS. The business’s revenue was up 4.0% on a year-over-year basis.
A number of equities analysts have recently commented on SYNH shares. UBS Group reduced their price objective on shares of Syneos Health from $74.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. Barclays reduced their price objective on shares of Syneos Health from $67.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday, March 26th. SunTrust Banks raised their price objective on shares of Syneos Health from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Credit Suisse Group reduced their price objective on shares of Syneos Health from $72.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, April 2nd. Finally, Jefferies Financial Group reduced their price objective on shares of Syneos Health from $80.00 to $52.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $60.00.
Shares of Syneos Health stock opened at $57.59 on Wednesday. The firm has a fifty day moving average price of $57.30 and a two-hundred day moving average price of $56.41. The company has a market cap of $5.97 billion, a PE ratio of 31.13 and a beta of 1.79. Syneos Health has a fifty-two week low of $30.02 and a fifty-two week high of $74.25. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.23 and a quick ratio of 1.23.
In other news, CAO Robert Parks sold 3,588 shares of Syneos Health stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $49.65, for a total transaction of $178,144.20. Following the completion of the sale, the chief accounting officer now owns 16,038 shares in the company, valued at approximately $796,286.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michelle Keefe sold 2,500 shares of Syneos Health stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the insider now owns 51,943 shares of the company’s stock, valued at approximately $3,116,580. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
Large investors have recently modified their holdings of the company. ArrowMark Colorado Holdings LLC boosted its stake in Syneos Health by 4.6% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 2,417,266 shares of the company’s stock worth $95,289,000 after acquiring an additional 105,551 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Syneos Health by 5.0% in the first quarter. JPMorgan Chase & Co. now owns 1,862,229 shares of the company’s stock valued at $73,409,000 after buying an additional 89,055 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Syneos Health by 87.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,572,457 shares of the company’s stock valued at $93,522,000 after buying an additional 734,221 shares in the last quarter. Geode Capital Management LLC lifted its stake in Syneos Health by 6.6% in the first quarter. Geode Capital Management LLC now owns 973,746 shares of the company’s stock valued at $38,385,000 after buying an additional 60,585 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Syneos Health by 8.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 790,744 shares of the company’s stock valued at $47,029,000 after buying an additional 60,769 shares in the last quarter.
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 clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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