Syneos Health (NASDAQ:SYNH) Issues FY 2022 Earnings Guidance

Syneos Health (NASDAQ:SYNHGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.97-$5.11 for the period, compared to the consensus earnings per share estimate of $5.11. The company issued revenue guidance of $5.44 billion-$5.54 billion, compared to the consensus revenue estimate of $5.66 billion. Syneos Health also updated its FY22 guidance to $4.97-5.11 EPS.

Syneos Health Price Performance

SYNH traded down $0.49 on Friday, hitting $67.96. 782,741 shares of the company’s stock were exchanged, compared to its average volume of 677,639. Syneos Health has a fifty-two week low of $62.28 and a fifty-two week high of $104.18. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $71.69 and a 200-day moving average price of $76.74. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 25.73 and a beta of 1.68.

Syneos Health (NASDAQ:SYNHGet Rating) last announced its earnings results on Tuesday, August 2nd. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.17. Syneos Health had a net margin of 5.13% and a return on equity of 14.04%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts anticipate that Syneos Health will post 4.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SYNH shares. Barclays lowered their target price on shares of Syneos Health from $90.00 to $80.00 in a research note on Wednesday. William Blair cut shares of Syneos Health from an outperform rating to a market perform rating in a research report on Wednesday. Mizuho lowered their price target on shares of Syneos Health from $94.00 to $87.00 and set a buy rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Syneos Health in a research report on Monday, April 11th. They set a buy rating and a $102.00 price target on the stock. Finally, Robert W. Baird lowered their price target on shares of Syneos Health from $99.00 to $89.00 in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $87.67.

Insider Buying and Selling at Syneos Health

In other Syneos Health news, COO Michael Lee Brooks sold 1,002 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $78.00, for a total value of $78,156.00. Following the transaction, the chief operating officer now owns 47,552 shares of the company’s stock, valued at $3,709,056. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Syneos Health news, COO Michael Lee Brooks sold 1,002 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $78.00, for a total transaction of $78,156.00. Following the sale, the chief operating officer now directly owns 47,552 shares in the company, valued at $3,709,056. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jonathan Olefson sold 2,215 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $75.00, for a total transaction of $166,125.00. Following the sale, the general counsel now owns 25,292 shares in the company, valued at $1,896,900. The disclosure for this sale can be found here. Insiders have sold 22,403 shares of company stock valued at $1,646,313 over the last 90 days. 0.34% of the stock is owned by insiders.

Institutional Trading of Syneos Health

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Syneos Health by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,724,346 shares of the company’s stock worth $787,185,000 after purchasing an additional 30,725 shares during the period. Clearbridge Investments LLC increased its stake in shares of Syneos Health by 3.3% during the first quarter. Clearbridge Investments LLC now owns 3,902,162 shares of the company’s stock worth $315,880,000 after buying an additional 125,011 shares during the period. State Street Corp increased its stake in shares of Syneos Health by 2.4% during the first quarter. State Street Corp now owns 2,660,420 shares of the company’s stock worth $215,361,000 after buying an additional 61,351 shares during the period. Mackenzie Financial Corp increased its stake in shares of Syneos Health by 0.3% during the first quarter. Mackenzie Financial Corp now owns 2,292,400 shares of the company’s stock worth $185,570,000 after buying an additional 5,889 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Syneos Health by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,042,500 shares of the company’s stock worth $84,394,000 after buying an additional 5,999 shares during the period. 98.38% of the stock is currently owned by hedge funds and other institutional investors.

Syneos Health Company Profile

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Syneos Health, Inc provides biopharmaceutical outsourcing 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 services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics in the Phase I to IV of clinical development.

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

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