Syneos Health, Inc. (NASDAQ:SYNH) Receives $89.10 Average PT from Brokerages

Syneos Health, Inc. (NASDAQ:SYNH) has received a consensus rating of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $89.10.

Several brokerages have issued reports on SYNH. Truist Securities increased their target price on shares of Syneos Health from $88.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, June 2nd. Credit Suisse Group increased their target price on shares of Syneos Health from $96.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Finally, Barclays raised their price target on shares of Syneos Health from $90.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, July 13th.

In other Syneos Health news, CFO Jason M. Meggs sold 4,668 shares of the firm’s stock in a transaction that occurred on Wednesday, June 30th. The shares were sold at an average price of $90.00, for a total transaction of $420,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alistair Macdonald sold 35,553 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $87.96, for a total transaction of $3,127,241.88. The disclosure for this sale can be found here. Insiders sold a total of 50,522 shares of company stock valued at $4,521,402 over the last ninety days. 0.29% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Liberty Wealth Management LLC grew its stake in Syneos Health by 8,850.0% in the 2nd quarter. Liberty Wealth Management LLC now owns 2,327 shares of the company’s stock valued at $26,000 after acquiring an additional 2,301 shares during the period. Alpha Paradigm Partners LLC acquired a new stake in Syneos Health during the 2nd quarter worth $42,000. Harvest Fund Management Co. Ltd acquired a new stake in Syneos Health during the 1st quarter worth $45,000. Itau Unibanco Holding S.A. acquired a new stake in Syneos Health during the 2nd quarter worth $47,000. Finally, Allred Capital Management LLC purchased a new position in shares of Syneos Health during the 1st quarter worth $56,000. 97.17% of the stock is currently owned by institutional investors and hedge funds.

Syneos Health stock traded up $0.50 during midday trading on Friday, hitting $94.24. 1,290 shares of the company’s stock were exchanged, compared to its average volume of 924,346. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.10 and a current ratio of 1.10. Syneos Health has a 12 month low of $50.26 and a 12 month high of $97.47. The firm has a 50-day moving average of $90.11 and a two-hundred day moving average of $85.15. The company has a market cap of $9.75 billion, a PE ratio of 41.85 and a beta of 1.80.

Syneos Health (NASDAQ:SYNH) last issued its earnings results on Monday, August 9th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.02. Syneos Health had a net margin of 4.99% and a return on equity of 11.35%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the business earned $0.58 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, equities analysts expect that Syneos Health will post 3.87 earnings per share for the current year.

Syneos Health Company Profile

Syneos Health, Inc provides outsourced clinical development and commercialization services to biopharmaceutical companies. It operates through the following business segments: Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers clinical development services spanning Phase I to Phase IV, including 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 their drug development process.

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Analyst Recommendations for Syneos Health (NASDAQ:SYNH)

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