StockNews.com Initiates Coverage on Syneos Health (NASDAQ:SYNH)

Investment analysts at StockNews.com assumed coverage on shares of Syneos Health (NASDAQ:SYNH – Get Rating) in a note issued to investors on Thursday. The firm set a “hold” rating on the stock.

A number of other brokerages also recently issued reports on SYNH. Barclays increased their price target on shares of Syneos Health from $30.00 to $45.00 and gave the stock an “underweight” rating in a report on Wednesday, March 1st. JPMorgan Chase & Co. cut shares of Syneos Health from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $30.00 to $28.00 in a research report on Monday, February 13th. Robert W. Baird increased their price target on shares of Syneos Health from $42.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 17th. Finally, Mizuho reiterated a “neutral” rating and set a $38.00 price target on shares of Syneos Health in a research report on Friday, February 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Syneos Health has an average rating of “Hold” and an average price target of $54.00.

Syneos Health Price Performance

Shares of Syneos Health stock traded down $0.93 on Thursday, reaching $33.41. The stock had a trading volume of 1,860,368 shares, compared to its average volume of 1,825,165. Syneos Health has a 1 year low of $22.89 and a 1 year high of $85.45. The company has a market cap of $3.45 billion, a P/E ratio of 13.00 and a beta of 1.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $36.69 and its two-hundred day moving average is $40.79.

Syneos Health (NASDAQ:SYNH – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.08. Syneos Health had a net margin of 4.94% and a return on equity of 13.19%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, research analysts anticipate that Syneos Health will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Syneos Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYNH. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Syneos Health during the second quarter valued at $28,000. Lindbrook Capital LLC raised its position in shares of Syneos Health by 898.7% in the 4th quarter. Lindbrook Capital LLC now owns 769 shares of the company’s stock worth $28,000 after purchasing an additional 692 shares during the last quarter. CWM LLC raised its position in shares of Syneos Health by 51.7% in the 3rd quarter. CWM LLC now owns 634 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of Syneos Health in the 3rd quarter worth about $31,000. Finally, OLD Mission Capital LLC purchased a new position in shares of Syneos Health in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

About Syneos Health

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Syneos Health, Inc engages in the provision of biopharmaceutical solutions. It operates through the Clinical Solutions and Commercial Solutions segments. The Clinical Solutions segment offers global services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics that span Phase I to IV of clinical development.