Syneos Health (NASDAQ:SYNH) Now Covered by Analysts at Guggenheim

Stock analysts at Guggenheim started coverage on shares of Syneos Health (NASDAQ:SYNHGet Rating) in a report released on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.

SYNH has been the topic of several other research reports. TheStreet lowered shares of Syneos Health from a “b” rating to a “c+” rating in a research note on Wednesday, May 18th. StockNews.com initiated coverage on shares of Syneos Health in a research note on Thursday, March 31st. They set a “hold” rating for the company. Barclays cut their target price on shares of Syneos Health from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, January 27th. Mizuho restated a “buy” rating and set a $94.00 price objective on shares of Syneos Health in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Syneos Health in a research note on Monday, April 11th. They issued a “buy” rating and a $102.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Syneos Health presently has an average rating of “Buy” and an average price target of $100.33.

Shares of Syneos Health stock traded up $0.56 during trading on Monday, hitting $71.47. 399,774 shares of the company were exchanged, compared to its average volume of 710,756. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.89. Syneos Health has a fifty-two week low of $66.73 and a fifty-two week high of $104.18. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 30.94 and a beta of 1.79. The firm has a 50 day moving average price of $76.75 and a 200 day moving average price of $86.73.

Syneos Health (NASDAQ:SYNHGet Rating) last announced its quarterly earnings data on Friday, April 29th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. Syneos Health had a net margin of 4.54% and a return on equity of 13.33%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company earned $0.66 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts predict that Syneos Health will post 4.64 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Syneos Health by 16.3% in the first quarter. BlackRock Inc. now owns 11,527,780 shares of the company’s stock worth $933,174,000 after purchasing an additional 1,617,330 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Syneos Health by 490.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,427,767 shares of the company’s stock valued at $145,924,000 after acquiring an additional 1,186,001 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Syneos Health by 576.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,343,624 shares of the company’s stock worth $137,963,000 after buying an additional 1,144,983 shares in the last quarter. Norges Bank bought a new stake in shares of Syneos Health during the 4th quarter valued at about $101,693,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Syneos Health by 33.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,868,800 shares of the company’s stock valued at $232,229,000 after buying an additional 723,812 shares in the last quarter. 98.38% of the stock is currently owned by hedge funds and other institutional investors.

Syneos Health Company Profile (Get Rating)

Syneos Health, Inc provides biopharmaceutical outsourcing 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 services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics in the Phase I to IV of clinical development.

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