Syneos Health (NASDAQ:SYNH) Updates FY 2020 Pre-Market Earnings Guidance


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Syneos Health (NASDAQ:SYNH) updated its FY 2020
Pre-Market earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.33-3.46 for the period, compared to the Thomson Reuters consensus estimate of $3.40. The company issued revenue guidance of $4.37-4.44 billion, compared to the consensus revenue estimate of $4.42 billion.Syneos Health also updated its FY 2021
Pre-Market guidance to 4.09-4.38 EPS.

SYNH stock opened at $75.05 on Thursday. The firm has a market cap of $7.80 billion, a PE ratio of 42.16 and a beta of 1.74. Syneos Health has a 12 month low of $30.02 and a 12 month high of $75.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $67.75 and a 200 day simple moving average of $61.53.

Syneos Health (NASDAQ:SYNH) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.25. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. Syneos Health had a return on equity of 9.63% and a net margin of 4.10%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.87 EPS. As a group, sell-side analysts expect that Syneos Health will post 2.76 earnings per share for the current year.

Several analysts have issued reports on the company. Mizuho boosted their price objective on Syneos Health from $65.00 to $72.00 and gave the stock a buy rating in a report on Wednesday, December 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Syneos Health from $75.00 to $80.00 in a research report on Wednesday, December 9th. ValuEngine upgraded shares of Syneos Health from a sell rating to a hold rating in a research report on Saturday, November 21st. The Goldman Sachs Group upgraded Syneos Health from a neutral rating to a buy rating and increased their target price for the company from $69.00 to $75.00 in a report on Thursday, October 1st. Finally, JPMorgan Chase & Co. lifted their price target on Syneos Health from $80.00 to $85.00 and gave the company an overweight rating in a report on Wednesday, December 9th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $72.07.

In related news, CEO Alistair Macdonald sold 1,200 shares of Syneos Health stock in a transaction on Tuesday, December 22nd. The shares were sold at an average price of $70.02, for a total value of $84,024.00. Following the completion of the sale, the chief executive officer now owns 245,487 shares of the company’s stock, valued at approximately $17,188,999.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jason M. Meggs sold 5,552 shares of the company’s stock in a transaction on Wednesday, January 6th. The stock was sold at an average price of $72.00, for a total transaction of $399,744.00. Following the completion of the sale, the chief financial officer now owns 64,503 shares of the company’s stock, valued at $4,644,216. The disclosure for this sale can be found here. Insiders sold 3,242,420 shares of company stock valued at $198,800,919 over the last quarter. Corporate insiders own 0.44% of the company’s stock.

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: How To Calculate Debt-to-Equity Ratio

Earnings History and Estimates for Syneos Health (NASDAQ:SYNH)

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