Syneos Health, Inc. (NASDAQ:SYNH) Receives $89.10 Average Target Price from Analysts

Syneos Health, Inc. (NASDAQ:SYNH) has been assigned an average recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $89.10.

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

Shares of NASDAQ SYNH traded up $0.60 during trading on Friday, hitting $94.34. 808,181 shares of the company were exchanged, compared to its average volume of 923,697. Syneos Health has a 12-month low of $50.26 and a 12-month high of $97.47. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.10 and a current ratio of 1.10. The company has a fifty day moving average price of $90.17 and a 200-day moving average price of $85.34. The firm has a market capitalization of $9.76 billion, a PE ratio of 42.12 and a beta of 1.80.

Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings results on Monday, August 9th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.95 by $0.02. Syneos Health had a return on equity of 11.35% and a net margin of 4.99%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. Research analysts anticipate that Syneos Health will post 3.87 earnings per share for the current fiscal year.

In other Syneos Health news, CEO Alistair Macdonald sold 35,553 shares of Syneos Health stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $87.96, for a total value of $3,127,241.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason M. Meggs sold 9,223 shares of the business’s stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $95.00, for a total value of $876,185.00. Following the transaction, the chief financial officer now directly owns 51,478 shares of the company’s stock, valued at $4,890,410. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,522 shares of company stock valued at $4,521,402. 0.29% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Alpha Paradigm Partners LLC acquired a new position in shares of Syneos Health during the second quarter worth about $42,000. Itau Unibanco Holding S.A. acquired a new position in shares of Syneos Health during the second quarter worth about $47,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Syneos Health during the first quarter worth about $45,000. Allred Capital Management LLC acquired a new position in shares of Syneos Health during the first quarter worth about $56,000. Finally, First Mercantile Trust Co. acquired a new position in shares of Syneos Health during the second quarter worth about $86,000. 97.17% of the stock is owned by institutional investors and hedge funds.

About Syneos Health

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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