Equities analysts forecast that Syneos Health Inc (NASDAQ:SYNH) will report earnings of $0.53 per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Syneos Health’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.50. Syneos Health reported earnings per share of $0.60 during the same quarter last year, which indicates a negative year over year growth rate of 11.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, May 9th.
According to Zacks, analysts expect that Syneos Health will report full year earnings of $2.63 per share for the current year, with EPS estimates ranging from $2.52 to $2.81. For the next fiscal year, analysts forecast that the company will post earnings of $3.13 per share, with EPS estimates ranging from $2.94 to $3.38. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Syneos Health.
Several brokerages have recently issued reports on SYNH. BidaskClub raised Syneos Health from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. SunTrust Banks reduced their target price on Syneos Health to $50.00 and set a “buy” rating on the stock in a report on Friday, December 1st. Barclays reaffirmed an “equal weight” rating and issued a $43.00 target price (up from $40.00) on shares of Syneos Health in a report on Thursday, March 1st. Credit Suisse Group reduced their target price on Syneos Health from $68.00 to $54.00 and set an “outperform” rating on the stock in a report on Tuesday, November 14th. Finally, TheStreet cut Syneos Health from a “b-” rating to a “c” rating in a report on Monday, December 18th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Syneos Health presently has an average rating of “Buy” and an average target price of $49.78.
In other news, CAO Christopher L. Gaenzle sold 1,470 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $41.00, for a total transaction of $60,270.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SYNH. Geode Capital Management LLC bought a new position in shares of Syneos Health during the fourth quarter valued at approximately $23,570,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Syneos Health in the fourth quarter valued at approximately $741,000. Finally, Globeflex Capital L P purchased a new stake in shares of Syneos Health in the fourth quarter valued at approximately $210,000.
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About Syneos Health
Syneos Health, Inc, formerly INC Research Holdings, Inc, is a global contract research organization (CRO). The Company focuses on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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