Syneos Health Inc (NASDAQ:SYNH) – Analysts at Mitsubishi UFJ Financial Group reduced their Q4 2018 earnings estimates for shares of Syneos Health in a research report issued to clients and investors on Tuesday, January 8th. Mitsubishi UFJ Financial Group analyst J. Twizell now forecasts that the company will post earnings of $0.74 per share for the quarter, down from their previous estimate of $0.76. Mitsubishi UFJ Financial Group also issued estimates for Syneos Health’s Q2 2019 earnings at $0.66 EPS and Q4 2019 earnings at $0.80 EPS.
Several other equities analysts also recently issued reports on SYNH. Zacks Investment Research downgraded shares of Syneos Health from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Barclays reduced their price objective on shares of Syneos Health from $51.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 3rd. Finally, Robert W. Baird set a $60.00 price objective on shares of Syneos Health and gave the company a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $53.44.
Syneos Health (NASDAQ:SYNH) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.17. Syneos Health had a negative net margin of 0.84% and a positive return on equity of 8.67%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. The company’s revenue for the quarter was up 88.3% compared to the same quarter last year.
In other news, CFO Jason M. Meggs acquired 3,650 shares of Syneos Health stock in a transaction that occurred on Monday, December 17th. The shares were acquired at an average price of $41.25 per share, with a total value of $150,562.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jonathan Olefson purchased 750 shares of the business’s stock in a transaction on Monday, December 17th. The shares were bought at an average cost of $41.27 per share, for a total transaction of $30,952.50. The disclosure for this purchase can be found here. Corporate insiders own 0.57% of the company’s stock.
A number of large investors have recently bought and sold shares of SYNH. JPMorgan Chase & Co. raised its stake in Syneos Health by 1,589.5% during the third quarter. JPMorgan Chase & Co. now owns 1,319,875 shares of the company’s stock worth $68,040,000 after purchasing an additional 1,241,754 shares during the period. BlackRock Inc. raised its stake in Syneos Health by 10.3% during the third quarter. BlackRock Inc. now owns 8,035,926 shares of the company’s stock worth $414,252,000 after purchasing an additional 751,050 shares during the period. Vanguard Group Inc raised its stake in Syneos Health by 9.9% during the third quarter. Vanguard Group Inc now owns 6,914,223 shares of the company’s stock worth $356,429,000 after purchasing an additional 624,991 shares during the period. Vanguard Group Inc. raised its stake in Syneos Health by 9.9% during the third quarter. Vanguard Group Inc. now owns 6,914,223 shares of the company’s stock worth $356,429,000 after purchasing an additional 624,991 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Syneos Health by 3,641.8% during the third quarter. Thrivent Financial for Lutherans now owns 473,191 shares of the company’s stock worth $24,393,000 after purchasing an additional 460,545 shares during the period.
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 unbundled service offerings, such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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