Syneos Health Inc (NASDAQ:SYNH) – Analysts at William Blair cut their FY2019 earnings per share (EPS) estimates for Syneos Health in a note issued to investors on Monday, May 13th. William Blair analyst J. Kreger now expects that the company will post earnings per share of $2.71 for the year, down from their prior forecast of $2.72. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Syneos Health’s FY2021 earnings at $3.41 EPS.
A number of other analysts have also commented on SYNH. Barclays reiterated a “hold” rating and issued a $48.00 price objective on shares of Syneos Health in a research report on Wednesday, April 17th. ValuEngine lowered Syneos Health from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. UBS Group lowered Syneos Health from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Tuesday, March 19th. Credit Suisse Group lifted their price objective on Syneos Health from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, Wolfe Research initiated coverage on Syneos Health in a research report on Tuesday, April 2nd. They issued a “market perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $53.33.
Syneos Health stock opened at $41.43 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.02 and a quick ratio of 1.02. Syneos Health has a 12-month low of $36.26 and a 12-month high of $56.34. The stock has a market capitalization of $4.30 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.36.
Syneos Health (NASDAQ:SYNH) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.08. Syneos Health had a return on equity of 9.55% and a net margin of 0.42%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year.
A number of hedge funds have recently made changes to their positions in SYNH. JPMorgan Chase & Co. increased its position 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 worth $68,040,000 after purchasing an additional 1,241,754 shares during the period. Norges Bank acquired a new stake in Syneos Health in the fourth quarter worth about $24,850,000. Viking Global Investors LP grew its position in shares of Syneos Health by 26.3% during the 1st quarter. Viking Global Investors LP now owns 2,219,074 shares of the company’s stock worth $114,859,000 after buying an additional 462,724 shares during the period. Rubric Capital Management LP acquired a new position in shares of Syneos Health during the 1st quarter worth about $23,121,000. Finally, BlackRock Inc. grew its position in shares of Syneos Health by 5.3% during the 4th quarter. BlackRock Inc. now owns 8,461,264 shares of the company’s stock worth $332,951,000 after buying an additional 425,338 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 clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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