Syneos Health, Inc. (NASDAQ:SYNH) Receives Average Rating of “Buy” from Brokerages


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Shares of Syneos Health, Inc. (NASDAQ:SYNH) have been given a consensus recommendation of “Buy” by the fourteen research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $78.00.

A number of research analysts have issued reports on the company. KeyCorp upped their price objective on Syneos Health from $76.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, March 15th. Citigroup upped their target price on shares of Syneos Health from $80.00 to $85.00 in a report on Friday, February 19th. Barclays began coverage on Syneos Health in a research note on Monday, March 8th. They set an “equal weight” rating and a $84.00 price objective for the company. Finally, Mizuho raised their price target on Syneos Health from $72.00 to $87.00 and gave the company a “buy” rating in a report on Monday, February 22nd.

Shares of Syneos Health stock traded down $0.26 during trading hours on Thursday, reaching $84.97. The company’s stock had a trading volume of 9,061 shares, compared to its average volume of 924,918. The company has a market capitalization of $8.86 billion, a P/E ratio of 46.71 and a beta of 1.85. The stock’s fifty day simple moving average is $76.88 and its two-hundred day simple moving average is $69.90. Syneos Health has a one year low of $48.01 and a one year high of $86.88. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.06.

Syneos Health (NASDAQ:SYNH) last announced its quarterly earnings results on Thursday, February 18th. The company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.12. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Syneos Health had a net margin of 4.28% and a return on equity of 10.02%. As a group, research analysts forecast that Syneos Health will post 2.95 earnings per share for the current year.

In other news, General Counsel Jonathan Olefson sold 5,336 shares of the firm’s stock in a transaction dated Monday, January 25th. The stock was sold at an average price of $75.68, for a total transaction of $403,828.48. Following the transaction, the general counsel now directly owns 27,214 shares of the company’s stock, valued at $2,059,555.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason M. Meggs sold 6,000 shares of Syneos Health stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $84.00, for a total value of $504,000.00. Following the completion of the transaction, the chief financial officer now owns 60,701 shares in the company, valued at approximately $5,098,884. The disclosure for this sale can be found here. Insiders have sold 4,781,362 shares of company stock worth $355,005,081 over the last three months. Insiders own 0.44% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. AJO LP purchased a new stake in shares of Syneos Health during the fourth quarter valued at approximately $72,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in 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 valued at $88,000 after buying an additional 432 shares during the period. World Asset Management Inc bought a new stake in Syneos Health in the 4th quarter worth $202,000. Private Capital Group LLC increased its position in shares of Syneos Health by 8.5% in the fourth quarter. Private Capital Group LLC now owns 3,165 shares of the company’s stock valued at $216,000 after acquiring an additional 248 shares during the period. Finally, Fulton Bank N.A. bought a new position in shares of Syneos Health during the first quarter valued at about $224,000. 99.90% of the stock is currently owned by institutional investors and hedge funds.

About Syneos Health

Syneos Health, Inc provides biopharmaceutical outsourcing 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 services spanning Phases I to IV of clinical development, including full service global studies, as well as individual service offerings, such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with their drug development process.

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Analyst Recommendations for Syneos Health (NASDAQ:SYNH)

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