Syneos Health (SYNH) – Investment Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Syneos Health (NASDAQ: SYNH) in the last few weeks:

• 8/9/2022 – Syneos Health had its price target lowered by analysts at Evercore ISI to $73.00.
• 8/9/2022 – Syneos Health had its price target lowered by analysts at Robert W. Baird to $89.00.
• 8/3/2022 – Syneos Health was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating.
• 8/3/2022 – Syneos Health had its price target lowered by analysts at Mizuho from $94.00 to $87.00. They now have a “buy” rating on the stock.
• 8/3/2022 – Syneos Health had its price target lowered by analysts at Barclays PLC from $90.00 to $80.00.
• 8/3/2022 – Syneos Health had its price target lowered by analysts at Robert W. Baird from $99.00 to $89.00.
• 8/3/2022 – Syneos Health had its price target lowered by analysts at Citigroup Inc. from $80.00 to $70.00.
• 7/13/2022 – Syneos Health had its price target lowered by analysts at Barclays PLC from $95.00 to $90.00. They now have an “overweight” rating on the stock.

Syneos Health Stock Performance

NASDAQ SYNH opened at $69.46 on Friday. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 26.11 and a beta of 1.68. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $71.14 and a 200-day moving average price of $76.11. Syneos Health, Inc. has a twelve month low of $62.28 and a twelve month high of $104.18.

Syneos Health (NASDAQ:SYNH – Get Rating) last posted its earnings results on Tuesday, August 2nd. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Syneos Health had a return on equity of 14.04% and a net margin of 5.13%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. As a group, equities research analysts predict that Syneos Health, Inc. will post 4.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Michael Lee Brooks sold 1,002 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $78.00, for a total value of $78,156.00. Following the sale, the chief operating officer now directly owns 47,552 shares in the company, valued at $3,709.056. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Syneos Health news, COO Michael Lee Brooks sold 1,002 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $78.00, for a total transaction of $78,156.00. Following the sale, the chief operating officer now directly owns 47,552 shares in the company, valued at $3,709.056. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Jonathan Olfson sold 2,215 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $75.00, for a total value of $166,125.00. Following the sale, the general counsel now owns 25,292 shares in the company, valued at $1,896,900. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,403 shares of company stock worth $1,646,313. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Syneos Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. purchased a new stake in Syneos Health during the first quarter valued at approximately $26,000. Independence Bank of Kentucky purchased a new stake in shares of Syneos Health in the first quarter worth approximately $28,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Syneos Health in the second quarter worth approximately $28,000. First Horizon Advisors Inc. raised its holdings in shares of Syneos Health by 59.6% in the fourth quarter. First Horizon Advisors Inc. now owns 391 shares of the company’s stock worth $39,000 after buying an additional 146 shares during the period. Finally, CWM LLC raised its holdings in shares of Syneos Health by 124.7% in the second quarter. CWM LLC now owns 418 shares of the company’s stock worth $30,000 after buying an additional 232 shares during the period. 98.38% of the stock is currently owned by hedge funds and other institutional investors.

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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