Equities Analysts Set Expectations for Syneos Health Inc’s Q4 2018 Earnings (SYNH)

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Syneos Health Inc (NASDAQ:SYNH) – Research analysts at Mitsubishi UFJ Financial Group reduced their Q4 2018 earnings per share (EPS) estimates for Syneos Health in a report released on Tuesday, January 8th. Mitsubishi UFJ Financial Group analyst J. Twizell now forecasts that the company will post earnings per share of $0.74 for the quarter, down from their prior estimate of $0.76. Mitsubishi UFJ Financial Group also issued estimates for Syneos Health’s Q2 2019 earnings at $0.66 EPS and Q4 2019 earnings at $0.80 EPS.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird set a $60.00 price target on shares of Syneos Health and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Syneos Health from a “buy” rating to a “hold” rating in a research report on Saturday, January 5th. Barclays cut their price objective on shares of Syneos Health from $51.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, January 3rd. Finally, SunTrust Banks cut their price objective on shares of Syneos Health to $55.00 and set a “buy” rating for the company in a research report on Wednesday, December 19th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Syneos Health has an average rating of “Buy” and an average price target of $53.44.

Shares of NASDAQ:SYNH opened at $45.34 on Thursday. The firm has a market cap of $4.13 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 1.13 and a beta of 1.28. 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 $31.10 and a 1-year high of $53.95.

Syneos Health (NASDAQ:SYNH) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.17. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Syneos Health had a negative net margin of 0.84% and a positive return on equity of 8.67%. The business’s quarterly revenue was up 88.3% on a year-over-year basis.

In related news, General Counsel Jonathan Olefson purchased 750 shares of the business’s stock in a transaction dated Monday, December 17th. The stock was acquired at an average price of $41.27 per share, for a total transaction of $30,952.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jason M. Meggs purchased 3,650 shares of the business’s stock in a transaction dated Monday, December 17th. The stock was bought at an average price of $41.25 per share, with a total value of $150,562.50. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SYNH. First Manhattan Co. acquired a new stake in shares of Syneos Health during the 3rd quarter worth about $103,000. First Trust Advisors LP acquired a new stake in shares of Syneos Health in the second quarter worth approximately $241,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Syneos Health in the third quarter worth approximately $294,000. Cim Investment Mangement Inc. acquired a new stake in shares of Syneos Health in the third quarter worth approximately $297,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Syneos Health in the third quarter worth approximately $327,000.

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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