Brokerages Set Syneos Health, Inc. (NASDAQ:SYNH) Target Price at $98.78

Shares of Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $98.78.

A number of analysts recently commented on the company. TheStreet cut Syneos Health from a “b” rating to a “c+” rating in a research report on Wednesday, May 18th. StockNews.com assumed coverage on Syneos Health in a research report on Thursday, March 31st. They set a “hold” rating for the company. Jefferies Financial Group cut Syneos Health from a “buy” rating to a “hold” rating and lowered their price target for the company from $101.00 to $75.00 in a report on Monday, April 25th. Mizuho restated a “buy” rating and issued a $94.00 price target on shares of Syneos Health in a report on Friday, May 20th. Finally, Guggenheim assumed coverage on Syneos Health in a report on Monday, May 23rd. They issued a “buy” rating and a $81.00 price target for the company.

Syneos Health stock opened at $69.91 on Tuesday. Syneos Health has a one year low of $62.28 and a one year high of $104.18. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.09 and a current ratio of 1.09. The business has a fifty day moving average of $71.41 and a two-hundred day moving average of $81.91. The company has a market cap of $7.17 billion, a P/E ratio of 30.26 and a beta of 1.78.

Syneos Health (NASDAQ:SYNH – Get Rating) last announced its quarterly earnings results on Friday, April 29th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. Syneos Health had a return on equity of 13.33% and a net margin of 4.54%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts predict that Syneos Health will post 4.64 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYNH. BlackRock Inc. lifted its stake in shares of Syneos Health by 16.3% in the 1st quarter. BlackRock Inc. now owns 11,527,780 shares of the company’s stock valued at $933,174,000 after purchasing an additional 1,617,330 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of Syneos Health by 490.6% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,427,767 shares of the company’s stock valued at $145,924,000 after purchasing an additional 1,186,001 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Syneos Health by 576.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,343,624 shares of the company’s stock valued at $137,963,000 after purchasing an additional 1,144,983 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Syneos Health by 33.7% in 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 purchasing an additional 723,812 shares in the last quarter. Finally, Cooke & Bieler LP lifted its position in Syneos Health by 39.1% during the 1st quarter. Cooke & Bieler LP now owns 2,359,503 shares of the company’s stock worth $191,002,000 after acquiring an additional 663,152 shares in the last quarter. 98.38% of the stock is currently owned by institutional investors and hedge funds.

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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