Equities analysts forecast that Syneos Health Inc (NASDAQ:SYNH) will announce $1.15 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Syneos Health’s earnings. The highest sales estimate is $1.16 billion and the lowest is $1.14 billion. Syneos Health posted sales of $1.07 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, August 6th.
According to Zacks, analysts expect that Syneos Health will report full-year sales of $4.67 billion for the current fiscal year, with estimates ranging from $4.66 billion to $4.70 billion. For the next financial year, analysts anticipate that the company will post sales of $4.97 billion, with estimates ranging from $4.93 billion to $5.05 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Syneos Health.
Syneos Health (NASDAQ:SYNH) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. Syneos Health had a return on equity of 9.55% and a net margin of 0.42%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS.
A number of brokerages recently issued reports on SYNH. Zacks Investment Research downgraded Hammerson from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Barclays set a $24.00 price objective on Tenet Healthcare and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Wolfe Research began coverage on Iqvia in a research report on Tuesday, April 2nd. They set a “market perform” rating for the company. Finally, ValuEngine upgraded Yandex from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $53.33.
Shares of NASDAQ:SYNH traded up $2.92 during midday trading on Thursday, reaching $52.25. 379,988 shares of the company’s stock were exchanged, compared to its average volume of 645,179. The stock has a 50 day moving average price of $49.14. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $5.12 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.76 and a beta of 1.53. Syneos Health has a fifty-two week low of $36.26 and a fifty-two week high of $56.34.
A number of institutional investors have recently made changes to their positions in the stock. Clearbridge Investments LLC boosted its holdings in Syneos Health by 3.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,280,688 shares of the company’s stock valued at $169,808,000 after acquiring an additional 110,268 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Syneos Health by 9.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,458,979 shares of the company’s stock valued at $75,517,000 after buying an additional 124,438 shares during the period. Boston Partners boosted its stake in shares of Syneos Health by 24.8% in the 1st quarter. Boston Partners now owns 1,036,119 shares of the company’s stock valued at $53,629,000 after buying an additional 205,892 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of Syneos Health by 26.8% in the 1st quarter. Pictet Asset Management Ltd. now owns 819,900 shares of the company’s stock valued at $42,438,000 after buying an additional 173,498 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. boosted its stake in shares of Syneos Health by 35.3% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 789,036 shares of the company’s stock valued at $40,312,000 after buying an additional 205,947 shares during the period.
About Syneos Health
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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