ValuEngine Upgrades Syneos Health (NASDAQ:SYNH) to “Hold”

Syneos Health (NASDAQ:SYNH) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

SYNH has been the topic of several other research reports. Jefferies Financial Group lifted their target price on shares of Syneos Health from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Citigroup initiated coverage on shares of Syneos Health in a research report on Monday, January 6th. They set a “buy” rating and a $75.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Syneos Health currently has a consensus rating of “Buy” and an average target price of $63.44.

Shares of Syneos Health stock traded down $1.02 during mid-day trading on Tuesday, hitting $62.96. 11,260 shares of the stock were exchanged, compared to its average volume of 407,380. Syneos Health has a 12 month low of $36.72 and a 12 month high of $64.72. The company has a 50-day simple moving average of $57.68 and a 200 day simple moving average of $53.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $6.61 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.79 and a beta of 1.52.

Syneos Health (NASDAQ:SYNH) last posted its earnings results on Thursday, October 31st. The company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Syneos Health had a net margin of 1.86% and a return on equity of 10.13%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the firm earned $0.75 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts predict that Syneos Health will post 2.81 EPS for the current year.

Several institutional investors have recently bought and sold shares of SYNH. Smith Asset Management Group LP lifted its position in shares of Syneos Health by 1,039.3% during the 2nd quarter. Smith Asset Management Group LP now owns 5,560 shares of the company’s stock worth $284,000 after buying an additional 5,072 shares in the last quarter. Penn Capital Management Co. Inc. purchased a new stake in shares of Syneos Health during the 2nd quarter worth approximately $7,121,000. Schroder Investment Management Group increased its stake in shares of Syneos Health by 3.0% during the 2nd quarter. Schroder Investment Management Group now owns 540,916 shares of the company’s stock worth $27,635,000 after purchasing an additional 15,675 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Syneos Health by 389.8% during the 2nd quarter. Bank of Montreal Can now owns 7,764 shares of the company’s stock worth $397,000 after purchasing an additional 6,179 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of Syneos Health by 7.6% during the 2nd quarter. LPL Financial LLC now owns 12,439 shares of the company’s stock worth $636,000 after purchasing an additional 882 shares during the last quarter.

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.

Further Reading: What does a neutral rating on stocks mean?

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Analyst Recommendations for Syneos Health (NASDAQ:SYNH)

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