$983.88 Million in Sales Expected for Syneos Health Inc (NASDAQ:SYNH) This Quarter

Equities analysts expect Syneos Health Inc (NASDAQ:SYNH) to announce sales of $983.88 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Syneos Health’s earnings. The lowest sales estimate is $876.30 million and the highest is $1.05 billion. Syneos Health posted sales of $1.17 billion in the same quarter last year, which would indicate a negative year over year growth rate of 15.9%. The company is expected to issue its next quarterly earnings report on Tuesday, August 4th.

On average, analysts expect that Syneos Health will report full-year sales of $4.40 billion for the current financial year, with estimates ranging from $4.22 billion to $4.66 billion. For the next year, analysts expect that the company will post sales of $4.94 billion, with estimates ranging from $4.67 billion to $5.29 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Syneos Health.

Syneos Health (NASDAQ:SYNH) last issued its earnings results on Thursday, April 30th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. Syneos Health had a net margin of 4.13% and a return on equity of 10.33%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share.

Several analysts have recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Syneos Health from $80.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Barclays reduced their price objective on shares of Syneos Health from $67.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday, March 26th. BidaskClub upgraded shares of Syneos Health from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Credit Suisse Group reduced their price objective on shares of Syneos Health from $72.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, April 2nd. Finally, Cfra lifted their target price on shares of Syneos Health from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $60.00.

In other news, insider Michelle Keefe sold 2,500 shares of Syneos Health stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now directly owns 51,943 shares in the company, valued at $3,116,580. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason M. Meggs purchased 3,555 shares of the stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $36.74 per share, with a total value of $130,610.70. Following the completion of the acquisition, the chief financial officer now owns 63,784 shares of the company’s stock, valued at $2,343,424.16. The disclosure for this purchase can be found here. Insiders own 0.44% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SYNH. Louisiana State Employees Retirement System grew its holdings in Syneos Health by 1.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the company’s stock valued at $898,000 after purchasing an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Syneos Health by 8.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,921 shares of the company’s stock valued at $233,000 after purchasing an additional 309 shares during the period. Rothschild Investment Corp IL purchased a new stake in Syneos Health in the fourth quarter valued at approximately $383,000. State of Michigan Retirement System grew its holdings in Syneos Health by 1.7% in the fourth quarter. State of Michigan Retirement System now owns 18,300 shares of the company’s stock valued at $1,088,000 after purchasing an additional 300 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Syneos Health by 38.8% in the fourth quarter. New York State Teachers Retirement System now owns 27,200 shares of the company’s stock valued at $1,618,000 after purchasing an additional 7,600 shares during the period.

Shares of NASDAQ:SYNH traded up $0.18 during midday trading on Monday, hitting $59.73. The stock had a trading volume of 253,102 shares, compared to its average volume of 545,726. The company has a market capitalization of $6.20 billion, a PE ratio of 32.29 and a beta of 1.79. The stock has a 50 day moving average price of $50.56 and a two-hundred day moving average price of $55.38. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. Syneos Health has a 1 year low of $30.02 and a 1 year high of $74.25.

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 clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.

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

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