Syneos Health (NASDAQ:SYNH) Updates FY 2020 Pre-Market Earnings Guidance


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Syneos Health (NASDAQ:SYNH) updated its FY 2020
Pre-Market earnings guidance on Wednesday. The company provided earnings per share guidance of 3.33-3.46 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.40. The company issued revenue guidance of $4.37-4.44 billion, compared to the consensus revenue estimate of $4.42 billion.Syneos Health also updated its FY 2021
Pre-Market guidance to 4.09-4.38 EPS.

Several research analysts recently weighed in on the stock. Credit Suisse Group boosted their price target on shares of Syneos Health from $72.00 to $75.00 and gave the stock an outperform rating in a report on Monday, December 7th. Mizuho lifted their price objective on shares of Syneos Health from $65.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday, December 9th. Smith Barney Citigroup lifted their price objective on shares of Syneos Health from $75.00 to $80.00 in a research report on Wednesday, December 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of Syneos Health from $75.00 to $80.00 in a research report on Wednesday, December 9th. Finally, The Goldman Sachs Group raised shares of Syneos Health from a neutral rating to a buy rating and lifted their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, October 1st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $72.07.

Syneos Health stock opened at $74.61 on Wednesday. The firm’s 50 day simple moving average is $67.58 and its 200 day simple moving average is $61.43. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $7.75 billion, a PE ratio of 41.92 and a beta of 1.74. Syneos Health has a 1-year low of $30.02 and a 1-year high of $75.39.

Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.25. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. Syneos Health had a net margin of 4.10% and a return on equity of 9.63%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS. Research analysts forecast that Syneos Health will post 2.76 earnings per share for the current year.

In related news, CFO Jason M. Meggs sold 1,938 shares of Syneos Health stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $67.00, for a total transaction of $129,846.00. Following the completion of the sale, the chief financial officer now owns 70,065 shares in the company, valued at approximately $4,694,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle Keefe sold 800 shares of the business’s stock in a transaction dated Tuesday, November 17th. The shares were sold at an average price of $62.65, for a total transaction of $50,120.00. Following the completion of the sale, the insider now owns 49,643 shares of the company’s stock, valued at approximately $3,110,133.95. The disclosure for this sale can be found here. Insiders have sold 3,242,420 shares of company stock valued at $198,800,919 over the last 90 days. 0.44% of the stock is currently owned by company insiders.

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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Earnings History and Estimates for Syneos Health (NASDAQ:SYNH)

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