Syneos Health Inc (SYNH) Expected to Post Quarterly Sales of $1.08 Billion

Wall Street analysts predict that Syneos Health Inc (NASDAQ:SYNH) will post $1.08 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Syneos Health’s earnings. The lowest sales estimate is $1.07 billion and the highest is $1.10 billion. Syneos Health posted sales of $258.09 million during the same quarter last year, which suggests a positive year over year growth rate of 318.5%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, August 2nd.

On average, analysts expect that Syneos Health will report full year sales of $4.44 billion for the current year, with estimates ranging from $4.40 billion to $4.50 billion. For the next financial year, analysts expect that the business will post sales of $4.73 billion per share, with estimates ranging from $4.66 billion to $4.80 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Syneos Health.

Syneos Health (NASDAQ:SYNH) last issued its earnings results on Thursday, August 2nd. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Syneos Health had a positive return on equity of 8.79% and a negative net margin of 5.50%. The company’s revenue for the quarter was up 315.5% on a year-over-year basis.

Several brokerages have recently commented on SYNH. Zacks Investment Research raised Syneos Health from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Wednesday, May 16th. ValuEngine raised Syneos Health from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Finally, Mitsubishi UFJ Financial Group began coverage on Syneos Health in a research report on Friday, April 20th. They issued an “overweight” rating and a $50.00 target price for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.40.

Shares of Syneos Health traded up $4.75, hitting $53.55, during midday trading on Friday, Marketbeat Ratings reports. The company’s stock had a trading volume of 1,073,600 shares, compared to its average volume of 875,593. The stock has a market cap of $5.06 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.01. Syneos Health has a 1-year low of $31.10 and a 1-year high of $59.80.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYNH. Lee Thomas H Partners LP acquired a new stake in Syneos Health during the first quarter valued at $893,707,000. BlackRock Inc. acquired a new stake in Syneos Health during the first quarter valued at $251,044,000. Dimensional Fund Advisors LP acquired a new stake in Syneos Health during the first quarter valued at $63,338,000. Redmile Group LLC acquired a new stake in Syneos Health during the first quarter valued at $54,177,000. Finally, Cooke & Bieler LP acquired a new stake in Syneos Health during the first quarter valued at $47,763,000.

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 unbundled service offerings, such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.

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