Syneos Health (NASDAQ:SYNH) had its price objective cut by Barclays from $51.00 to $45.00 in a research note issued to investors on Thursday, January 3rd. They currently have an equal weight rating on the stock.
A number of other brokerages have also weighed in on SYNH. ValuEngine lowered shares of Syneos Health from a hold rating to a sell rating in a research note on Thursday, September 6th. Evercore ISI started coverage on shares of Syneos Health in a research note on Thursday, October 4th. They issued an outperform rating and a $58.00 price target on the stock. UBS Group started coverage on shares of Syneos Health in a report on Tuesday, October 9th. They issued a buy rating and a $60.00 price objective for the company. William Blair upgraded shares of Syneos Health from a market perform rating to an outperform rating in a report on Friday, October 19th. Finally, Zacks Investment Research downgraded shares of Syneos Health from a buy rating to a hold rating in a report on Saturday, November 17th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $53.44.
Shares of SYNH stock opened at $47.45 on Thursday. The firm has a market cap of $4.68 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.97 and a current ratio of 0.97. Syneos Health has a 12-month low of $31.10 and a 12-month high of $53.95.
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 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 company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. Syneos Health’s revenue was up 88.3% on a year-over-year basis. On average, analysts predict that Syneos Health will post 2.47 earnings per share for the current year.
In other Syneos Health news, CFO Jason M. Meggs purchased 3,650 shares of the firm’s stock in a transaction on 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Jonathan Olefson acquired 750 shares of the firm’s stock in a transaction dated Monday, December 17th. The shares were purchased at an average cost of $41.27 per share, with a total value of $30,952.50. The disclosure for this purchase can be found here. 0.57% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in SYNH. JPMorgan Chase & Co. increased its stake in Syneos Health by 1,589.5% in 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. increased its stake in Syneos Health by 10.3% in the third quarter. BlackRock Inc. now owns 8,035,926 shares of the company’s stock valued at $414,252,000 after purchasing an additional 751,050 shares during the period. Vanguard Group Inc increased its stake in Syneos Health by 9.9% in the third quarter. Vanguard Group Inc now owns 6,914,223 shares of the company’s stock valued at $356,429,000 after purchasing an additional 624,991 shares during the period. Vanguard Group Inc. increased its stake in Syneos Health by 9.9% in the third quarter. Vanguard Group Inc. now owns 6,914,223 shares of the company’s stock valued at $356,429,000 after purchasing an additional 624,991 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Syneos Health by 3,641.8% in the third quarter. Thrivent Financial for Lutherans now owns 473,191 shares of the company’s stock valued at $24,393,000 after purchasing an additional 460,545 shares during the period.
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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