Syneos Health (SYNH) Upgraded to “Buy” at 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 report released on Tuesday. Zacks Investment Research currently has $58.00 price target 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 research analysts have also issued research reports about the stock. Evercore ISI began coverage on shares of Syneos Health in a report on Thursday, October 4th. They issued an outperform rating and a $58.00 price target for the company. UBS Group began coverage on shares of Syneos Health in a report on Tuesday, October 9th. They issued a buy rating and a $60.00 price target for the company. KeyCorp boosted their price target on shares of Syneos Health from $54.00 to $59.00 and gave the company an overweight rating in a report on Friday, August 10th. William Blair upgraded shares of Syneos Health from a market perform rating to an outperform rating in a report on Friday, October 19th. Finally, ValuEngine upgraded shares of Syneos Health from a hold rating to a buy rating in a report on Saturday, November 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $54.90.

Shares of SYNH opened at $47.98 on Tuesday. 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 $5.08 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.14 and a beta of 0.97. 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 (NASDAQ:SYNH) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.12 billion. The business’s revenue was up 88.3% compared to the same quarter last year. Research analysts forecast that Syneos Health will post 2.47 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. BB&T Corp raised 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 worth $341,000 after acquiring an additional 1,393 shares in the last quarter. First Manhattan Co. bought a new position in shares of Syneos Health during the 3rd quarter worth approximately $103,000. Mesirow Financial Investment Management Equity Management raised 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 worth $15,273,000 after acquiring an additional 54,495 shares in the last quarter. Natixis bought a new position in shares of Syneos Health during the 2nd quarter worth approximately $3,493,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of Syneos Health by 10.7% during the 3rd quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the company’s stock worth $856,000 after acquiring an additional 1,600 shares in the last quarter.

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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