Syneos Health (SYNH) Upgraded to Buy at ValuEngine

Syneos Health (NASDAQ:SYNH) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Saturday, March 30th, ValuEngine reports.

Several other equities analysts also recently commented on the stock. UBS Group downgraded shares of Syneos Health from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Tuesday, March 19th. Robert W. Baird set a $60.00 price target on shares of Syneos Health and gave the company a “buy” rating in a report on Tuesday, January 8th. Zacks Investment Research cut shares of Syneos Health from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. SunTrust Banks reduced their target price on shares of Syneos Health to $55.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. Finally, Barclays reduced their target price on shares of Syneos Health from $51.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, January 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $53.33.

NASDAQ:SYNH traded down $0.20 during trading hours on Friday, hitting $45.71. 706,481 shares of the stock traded hands, compared to its average volume of 578,259. Syneos Health has a fifty-two week low of $36.26 and a fifty-two week high of $56.34. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The company has a market cap of $4.74 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.45.

Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings results on Monday, March 18th. The company reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.16. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. Syneos Health had a net margin of 0.55% and a return on equity of 9.60%. Syneos Health’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. Equities research analysts anticipate that Syneos Health will post 2.72 earnings per share for the current year.

In other Syneos Health news, CEO Alistair Macdonald sold 8,143 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $53.00, for a total value of $431,579.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.44% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Enlightenment Research LLC bought a new position in shares of Syneos Health during the fourth quarter worth $51,000. NumerixS Investment Technologies Inc acquired a new stake in Syneos Health in the 4th quarter valued at $57,000. Bessemer Group Inc. acquired a new stake in Syneos Health in the 4th quarter valued at $59,000. Oppenheimer Asset Management Inc. acquired a new stake in Syneos Health in the 4th quarter valued at $66,000. Finally, Private Capital Group LLC increased its stake in Syneos Health by 79.7% in the 4th quarter. Private Capital Group LLC now owns 1,824 shares of the company’s stock valued at $72,000 after buying an additional 809 shares during the last quarter.

Syneos Health Company Profile

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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Analyst Recommendations for Syneos Health (NASDAQ:SYNH)

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