Syneos Health, Inc. (NASDAQ:SYNH) Expected to Announce Quarterly Sales of $1.33 Billion

Equities research analysts predict that Syneos Health, Inc. (NASDAQ:SYNHGet Rating) will announce sales of $1.33 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Syneos Health’s earnings. The lowest sales estimate is $1.32 billion and the highest is $1.33 billion. Syneos Health reported sales of $1.21 billion in the same quarter last year, which would suggest a positive year over year growth rate of 9.9%. The firm is expected to report its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Syneos Health will report full year sales of $5.65 billion for the current fiscal year, with estimates ranging from $5.58 billion to $5.68 billion. For the next year, analysts anticipate that the company will report sales of $6.12 billion, with estimates ranging from $6.00 billion to $6.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Syneos Health.

Syneos Health (NASDAQ:SYNHGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.02. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.40 billion. Syneos Health had a net margin of 4.50% and a return on equity of 12.69%. Syneos Health’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS.

A number of research firms recently weighed in on SYNH. Zacks Investment Research raised shares of Syneos Health from a “sell” rating to a “hold” rating and set a $95.00 target price for the company in a report on Monday, January 17th. Mizuho decreased their target price on Syneos Health from $109.00 to $94.00 and set a “buy” rating for the company in a research report on Monday, March 7th. Deutsche Bank Aktiengesellschaft started coverage on Syneos Health in a research report on Monday, April 11th. They set a “buy” rating and a $102.00 target price for the company. StockNews.com initiated coverage on Syneos Health in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barclays dropped their target price on Syneos Health from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, January 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Syneos Health has a consensus rating of “Buy” and a consensus price target of $103.50.

In other news, CAO Donna Hildebrand Kralowetz sold 1,055 shares of the firm’s stock in a transaction on Monday, January 31st. The stock was sold at an average price of $90.00, for a total transaction of $94,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SYNH. People s United Financial Inc. boosted its stake in Syneos Health by 5.6% in the 3rd quarter. People s United Financial Inc. now owns 12,867 shares of the company’s stock valued at $1,126,000 after buying an additional 685 shares in the last quarter. Versor Investments LP bought a new stake in shares of Syneos Health in the third quarter worth about $341,000. AE Wealth Management LLC increased its holdings in shares of Syneos Health by 11.1% in the fourth quarter. AE Wealth Management LLC now owns 14,591 shares of the company’s stock worth $1,498,000 after acquiring an additional 1,460 shares in the last quarter. National Asset Management Inc. boosted its position in shares of Syneos Health by 17.5% during the third quarter. National Asset Management Inc. now owns 3,390 shares of the company’s stock worth $297,000 after buying an additional 504 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Syneos Health by 126.5% during the third quarter. M&T Bank Corp now owns 35,383 shares of the company’s stock worth $3,095,000 after buying an additional 19,759 shares during the period. 94.63% of the stock is currently owned by institutional investors.

NASDAQ SYNH opened at $80.43 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82. Syneos Health has a 12 month low of $72.48 and a 12 month high of $104.18. The company’s 50 day moving average is $80.92 and its two-hundred day moving average is $89.72. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 35.91 and a beta of 1.84.

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

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