Brokerages Set Syneos Health Inc (SYNH) Target Price at $54.75

Syneos Health Inc (NASDAQ:SYNH) has been given a consensus rating of “Buy” by the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $54.75.

SYNH has been the subject of a number of research analyst reports. UBS Group initiated coverage on Syneos Health in a report on Tuesday, October 9th. They set a “buy” rating and a $60.00 price target for the company. ValuEngine upgraded Syneos Health from a “hold” rating to a “buy” rating in a report on Saturday, November 10th. Zacks Investment Research upgraded Syneos Health from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Tuesday, November 20th. SunTrust Banks lowered their price target on Syneos Health to $55.00 and set a “buy” rating for the company in a report on Wednesday, December 19th. Finally, Robert W. Baird set a $60.00 price target on Syneos Health and gave the stock a “buy” rating in a report on Tuesday, January 8th.

Shares of NASDAQ:SYNH opened at $47.45 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.28 and a beta of 1.28. Syneos Health has a 52-week low of $31.10 and a 52-week high of $53.95.

Syneos Health (NASDAQ:SYNH) last issued its earnings results on Tuesday, November 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.17. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Syneos Health had a positive return on equity of 8.67% and a negative net margin of 0.84%. Syneos Health’s revenue was up 88.3% on a year-over-year basis. As a group, equities analysts expect that Syneos Health will post 2.47 earnings per share for the current fiscal year.

In other news, General Counsel Jonathan Olefson bought 750 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The shares were purchased at an average price of $41.27 per share, with a total value of $30,952.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jason M. Meggs bought 3,650 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The shares were purchased at an average cost of $41.25 per share, for a total transaction of $150,562.50. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in Syneos Health by 1,589.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,319,875 shares of the company’s stock valued at $68,040,000 after purchasing an additional 1,241,754 shares in the last quarter. BlackRock Inc. raised its position in Syneos Health by 10.3% in the 3rd quarter. BlackRock Inc. now owns 8,035,926 shares of the company’s stock valued at $414,252,000 after purchasing an additional 751,050 shares in the last quarter. Vanguard Group Inc raised its position in Syneos Health by 9.9% in the 3rd quarter. Vanguard Group Inc now owns 6,914,223 shares of the company’s stock valued at $356,429,000 after purchasing an additional 624,991 shares in the last quarter. Vanguard Group Inc. raised its position in Syneos Health by 9.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,914,223 shares of the company’s stock valued at $356,429,000 after purchasing an additional 624,991 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Syneos Health by 3,641.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 473,191 shares of the company’s stock valued at $24,393,000 after purchasing an additional 460,545 shares in 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 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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Analyst Recommendations for Syneos Health (NASDAQ:SYNH)

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