Syneos Health (NASDAQ:SYNH) PT Raised to $63.00

Syneos Health (NASDAQ:SYNH) had its target price upped by research analysts at KeyCorp from $59.00 to $63.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 23.22% from the stock’s current price. KeyCorp also issued estimates for Syneos Health’s Q4 2019 earnings at $0.89 EPS.

Several other research firms also recently commented on SYNH. Barclays reissued a “hold” rating and issued a $48.00 target price on shares of Syneos Health in a report on Wednesday, April 17th. SunTrust Banks boosted their target price on Syneos Health to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research raised Syneos Health from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Finally, ValuEngine downgraded Syneos Health from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.75.

Shares of NASDAQ SYNH traded down $1.04 during mid-day trading on Thursday, hitting $51.13. 328,409 shares of the stock traded hands, compared to its average volume of 426,311. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.02 and a current ratio of 0.89. Syneos Health has a 52 week low of $36.26 and a 52 week high of $56.34. The company has a market capitalization of $5.37 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. The stock has a fifty day moving average of $49.61.

Syneos Health (NASDAQ:SYNH) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Syneos Health had a return on equity of 9.82% and a net margin of 0.36%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Analysts forecast that Syneos Health will post 2.69 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in SYNH. Norges Bank bought a new stake in Syneos Health in the fourth quarter worth $24,850,000. Rubric Capital Management LP purchased a new position in shares of Syneos Health in the first quarter worth $23,121,000. Rothschild & Co. Asset Management US Inc. raised its stake in shares of Syneos Health by 196.3% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 583,089 shares of the company’s stock worth $30,181,000 after purchasing an additional 386,294 shares during the last quarter. Boston Partners raised its stake in shares of Syneos Health by 24.8% in the first quarter. Boston Partners now owns 1,036,119 shares of the company’s stock worth $53,629,000 after purchasing an additional 205,892 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Syneos Health by 13.2% in the second quarter. JPMorgan Chase & Co. now owns 1,495,906 shares of the company’s stock worth $74,242,000 after purchasing an additional 174,481 shares during the last quarter.

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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Analyst Recommendations for Syneos Health (NASDAQ:SYNH)

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