Syneos Health (NASDAQ:SYNH) Earns Hold Rating from Analysts at StockNews.com

Posted by Defense World Staff on Jul 21st, 2023

Analysts at StockNews.com started coverage on shares of Syneos Health (NASDAQ:SYNH – Get Free Report) in a report released on Friday. The firm set a “hold” rating on the stock.

A number of other research analysts also recently issued reports on SYNH. Deutsche Bank Aktiengesellschaft downgraded shares of Syneos Health from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. Robert W. Baird lowered shares of Syneos Health from an “outperform” rating to a “neutral” rating in a report on Thursday, May 11th. Mizuho lifted their price objective on Syneos Health from $38.00 to $43.00 in a research report on Tuesday, May 16th. JPMorgan Chase & Co. upgraded Syneos Health from an “underweight” rating to a “neutral” rating in a research note on Wednesday, May 10th. Finally, Barclays raised Syneos Health from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, May 10th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $47.63.

Syneos Health Price Performance

SYNH stock opened at $42.34 on Friday. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 29.61 and a beta of 1.58. The firm’s 50-day moving average price is $41.87 and its two-hundred day moving average price is $38.74. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.77. Syneos Health has a 12-month low of $22.89 and a 12-month high of $79.77.

Syneos Health (NASDAQ:SYNH – Get Free Report) last posted its earnings results on Wednesday, May 10th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Syneos Health had a return on equity of 12.14% and a net margin of 2.74%. As a group, equities analysts predict that Syneos Health will post 2.86 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC lifted its holdings in shares of Syneos Health by 898.7% in the fourth quarter. Lindbrook Capital LLC now owns 769 shares of the company’s stock worth $28,000 after buying an additional 692 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of Syneos Health during the 4th quarter valued at approximately $31,000. Harbor Capital Advisors Inc. purchased a new position in shares of Syneos Health in the second quarter valued at $36,000. Mesirow Institutional Investment Management Inc. bought a new stake in Syneos Health in the first quarter worth $38,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Syneos Health by 115.1% during the first quarter. Nomura Asset Management Co. Ltd. now owns 1,140 shares of the company’s stock valued at $41,000 after purchasing an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Syneos Health Company Profile

(Get Free Report)

Syneos Health, Inc, operates as an integrated biopharmaceutical solutions company. The company operates through two segments, Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics in Phase I to IV of clinical development.