Q3 2022 EPS Estimates for Syneos Health, Inc. (NASDAQ:SYNH) Cut by William Blair

Syneos Health, Inc. (NASDAQ:SYNHGet Rating) – Stock analysts at William Blair decreased their Q3 2022 earnings per share estimates for Syneos Health in a note issued to investors on Tuesday, August 2nd. William Blair analyst J. Kreger now expects that the company will earn $1.18 per share for the quarter, down from their previous estimate of $1.23. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Syneos Health’s current full-year earnings is $4.62 per share. William Blair also issued estimates for Syneos Health’s Q4 2022 earnings at $1.28 EPS and FY2023 earnings at $4.85 EPS.

SYNH has been the topic of several other reports. Barclays reduced their price objective on Syneos Health from $90.00 to $80.00 in a research report on Wednesday. Robert W. Baird reduced their target price on Syneos Health from $99.00 to $89.00 in a research report on Wednesday. Mizuho reduced their target price on Syneos Health from $94.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday. Guggenheim initiated coverage on Syneos Health in a research report on Monday, May 23rd. They set a “buy” rating and a $81.00 target price on the stock. Finally, Citigroup reduced their target price on Syneos Health from $80.00 to $70.00 in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.13.

Syneos Health Stock Down 0.7 %

Shares of NASDAQ:SYNH opened at $67.96 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.86. Syneos Health has a 52-week low of $62.28 and a 52-week high of $104.18. The stock’s fifty day simple moving average is $71.55 and its 200-day simple moving average is $76.61. The company has a market capitalization of $6.97 billion, a P/E ratio of 25.55 and a beta of 1.68.

Syneos Health (NASDAQ:SYNHGet Rating) last posted its earnings results on Tuesday, August 2nd. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.17. Syneos Health had a return on equity of 14.04% and a net margin of 5.13%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. Syneos Health’s revenue was up 6.0% compared to the same quarter last year.

Institutional Investors Weigh In On Syneos Health

A number of hedge funds have recently bought and sold shares of SYNH. National Bank of Canada FI acquired a new stake in Syneos Health during the 4th quarter valued at approximately $75,000. Janney Montgomery Scott LLC grew its stake in Syneos Health by 49.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,576 shares of the company’s stock valued at $470,000 after purchasing an additional 1,515 shares in the last quarter. National Asset Management Inc. grew its stake in Syneos Health by 8.9% during the 4th quarter. National Asset Management Inc. now owns 3,692 shares of the company’s stock valued at $380,000 after purchasing an additional 302 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Syneos Health during the 4th quarter valued at approximately $6,742,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in Syneos Health during the 4th quarter worth approximately $226,000. Institutional investors and hedge funds own 98.38% of the company’s stock.

Insider Transactions at Syneos Health

In other news, General Counsel Jonathan Olefson sold 2,215 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $75.00, for a total value of $166,125.00. Following the completion of the sale, the general counsel now owns 25,292 shares in the company, valued at $1,896,900. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Michael Lee Brooks sold 1,002 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $78.00, for a total value of $78,156.00. Following the completion of the sale, the chief operating officer now owns 47,552 shares in the company, valued at $3,709,056. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jonathan Olefson sold 2,215 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $75.00, for a total value of $166,125.00. Following the completion of the sale, the general counsel now owns 25,292 shares of the company’s stock, valued at approximately $1,896,900. The disclosure for this sale can be found here. Insiders have sold a total of 22,403 shares of company stock worth $1,646,313 in the last three months. 0.34% of the stock is currently owned by company insiders.

About Syneos Health

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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.

Further Reading

Earnings History and Estimates for Syneos Health (NASDAQ:SYNH)

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