Syneos Health (NASDAQ:SYNH) Downgraded by TheStreet to “C+”

Syneos Health (NASDAQ:SYNHGet Rating) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Wednesday, TheStreetRatingsTable reports.

Several other analysts also recently weighed in on the company. StockNews.com initiated coverage on Syneos Health in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Jefferies Financial Group downgraded Syneos Health from a “buy” rating to a “hold” rating and cut their price target for the stock from $101.00 to $75.00 in a research report on Monday, April 25th. Mizuho reduced their price objective on Syneos Health from $109.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, March 7th. Barclays dropped their target price on Syneos Health from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, January 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Syneos Health in a research report on Monday, April 11th. They set a “buy” rating and a $102.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Syneos Health has a consensus rating of “Buy” and a consensus price target of $100.33.

Syneos Health stock opened at $69.77 on Wednesday. Syneos Health has a twelve month low of $66.73 and a twelve month high of $104.18. The business has a fifty day moving average of $76.85 and a two-hundred day moving average of $87.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.89. The firm has a market cap of $7.16 billion, a P/E ratio of 30.20 and a beta of 1.79.

Syneos Health (NASDAQ:SYNHGet Rating) last released its earnings results on Friday, April 29th. The company reported $1.01 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. Syneos Health’s revenue was up 10.5% compared to the same quarter last year. Equities analysts expect that Syneos Health will post 4.64 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System increased its holdings in shares of Syneos Health by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 28,272 shares of the company’s stock valued at $2,473,000 after acquiring an additional 107 shares during the period. Neuberger Berman Group LLC increased its stake in Syneos Health by 1.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 5,750 shares of the company’s stock valued at $473,000 after buying an additional 107 shares during the period. HighTower Advisors LLC raised its position in Syneos Health by 1.1% during the 4th quarter. HighTower Advisors LLC now owns 11,206 shares of the company’s stock worth $1,148,000 after buying an additional 119 shares during the last quarter. Advisor Group Holdings Inc. raised its position in Syneos Health by 0.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 27,972 shares of the company’s stock worth $2,871,000 after buying an additional 133 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Syneos Health by 59.6% in the 4th quarter. First Horizon Advisors Inc. now owns 391 shares of the company’s stock worth $39,000 after acquiring an additional 146 shares during the period. Institutional investors own 98.38% of the company’s stock.

About Syneos Health (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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