Syneos Health (NASDAQ:SYNH) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other research analysts have also commented on SYNH. Goldman Sachs Group raised Syneos Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $69.00 to $75.00 in a report on Thursday, October 1st. Mizuho upgraded Syneos Health from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $63.00 to $65.00 in a research report on Tuesday, October 6th. SunTrust Banks upped their price objective on Syneos Health from $66.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Truist Financial increased their target price on Syneos Health from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Citigroup raised their price objective on Syneos Health from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Syneos Health presently has an average rating of “Buy” and an average price target of $68.00.

SYNH stock opened at $60.75 on Friday. The stock has a 50-day moving average price of $57.64 and a two-hundred day moving average price of $56.46. The stock has a market cap of $6.35 billion, a PE ratio of 34.13 and a beta of 1.69. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.89. Syneos Health has a 1 year low of $30.02 and a 1 year high of $74.25.

Syneos Health (NASDAQ:SYNH) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.20. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Syneos Health had a net margin of 4.10% and a return on equity of 9.63%. The company’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. On average, analysts forecast that Syneos Health will post 2.75 earnings per share for the current fiscal year.

In related news, CEO Alistair Macdonald sold 10,289 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $65.07, for a total transaction of $669,505.23. Also, major shareholder International Corp/Ma Advent sold 3,766,281 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $59.26, for a total transaction of $223,189,812.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,777,302 shares of company stock valued at $223,902,696. 0.44% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. MML Investors Services LLC raised its stake in shares of Syneos Health by 25.8% in the first quarter. MML Investors Services LLC now owns 5,508 shares of the company’s stock worth $217,000 after buying an additional 1,129 shares during the period. Legal & General Group Plc raised its stake in Syneos Health by 1.7% during the 1st quarter. Legal & General Group Plc now owns 87,203 shares of the company’s stock valued at $3,438,000 after purchasing an additional 1,449 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Syneos Health by 33.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,652 shares of the company’s stock valued at $578,000 after buying an additional 3,667 shares in the last quarter. Geode Capital Management LLC grew its holdings in Syneos Health by 6.6% during the 1st quarter. Geode Capital Management LLC now owns 973,746 shares of the company’s stock valued at $38,385,000 after buying an additional 60,585 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new position in Syneos Health during the 1st quarter valued at approximately $325,000.

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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