Syneos Health (SYNH) Upgraded to “Buy” by Zacks Investment Research

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Zacks Investment Research upgraded shares of Syneos Health (NASDAQ:SYNH) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $49.00 price objective on the stock.

According to Zacks, “INC Research Holdings, Inc. is a global contract research organization. It provides the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Its services include clinical trial management services comprising patient recruitment and retention, project management, clinical monitoring, drug safety/pharmacovigilance, medical affairs, quality assurance, regulatory and medical writing, and functional service; and data services consisting of clinical data management, electronic data capture, and biostatistics. INC Research Holdings, Inc. is headquartered in Raleigh, North Carolina. “

Other equities analysts have also recently issued research reports about the company. ValuEngine cut Syneos Health from a hold rating to a sell rating in a report on Thursday, September 6th. William Blair upgraded Syneos Health from a market perform rating to an outperform rating in a report on Friday, October 19th. UBS Group assumed coverage on Syneos Health in a report on Tuesday, October 9th. They issued a buy rating and a $60.00 price target for the company. Finally, Evercore ISI assumed coverage on Syneos Health in a report on Thursday, October 4th. They issued an outperform rating and a $58.00 price target for the company. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Syneos Health has a consensus rating of Buy and an average target price of $54.00.

Shares of NASDAQ:SYNH opened at $41.16 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.97. Syneos Health has a 1 year low of $31.10 and a 1 year high of $53.95. The stock has a market cap of $4.26 billion, a PE ratio of 17.20, a PEG ratio of 0.95 and a beta of 0.97.

Syneos Health (NASDAQ:SYNH) last issued its earnings results on Tuesday, November 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.17. Syneos Health had a positive return on equity of 8.67% and a negative net margin of 0.84%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. The company’s revenue was up 88.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Syneos Health will post 2.48 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYNH. BB&T Corp boosted its stake in shares of Syneos Health by 26.7% during the 3rd quarter. BB&T Corp now owns 6,602 shares of the company’s stock valued at $341,000 after buying an additional 1,393 shares during the last quarter. First Manhattan Co. purchased a new position in shares of Syneos Health during the 3rd quarter valued at approximately $103,000. Mesirow Financial Investment Management Equity Management boosted its stake in shares of Syneos Health by 22.5% during the 3rd quarter. Mesirow Financial Investment Management Equity Management now owns 296,260 shares of the company’s stock valued at $15,273,000 after buying an additional 54,495 shares during the last quarter. Natixis acquired a new stake in shares of Syneos Health during the 2nd quarter valued at approximately $3,493,000. Finally, Louisiana State Employees Retirement System increased its position in Syneos Health by 10.7% in the third quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the company’s stock worth $856,000 after buying an additional 1,600 shares during the period.

Syneos Health Company Profile

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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