On Jan. 06, Meggs Jason M. divested U.S. $399,744 in shares of Syneos Health Inc.. The CFO sold 5,552 shares at a price per share of $72.00. The transaction decreased this specific insider’s holdings to 58,951 shares worth around $4.22 million at present.
Mizuho took its Syneos Health Inc. [SYNH] rating to the equivalent of a Buy from a Neutral, and the price target to $65, in a research note dated October 06, 2020. That figure represents around a -10.25% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Mizuho’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in early October. Meanwhile, Goldman had raised its rating on SYNH to “Buy” from the earlier “Neutral”, in a research note produced for clients October 01, 2020. In addition, there was a downgrade from Goldman on March 30, 2020. The rater changed SYNH from “a Buy” to “a Neutral”.
Is Syneos Health Inc. [NASDAQ:SYNH] a Good Buy Right Now?
It should be noted that SYNH technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 72% Buy in the past month. Data from Syneos Health Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.83 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.82 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.79 million shares.
SYNH Price Performance
On Wall Street, Syneos Health Inc. [NASDAQ:SYNH] finished Thursday’s session down -0.40% at $71.66. The stock went up to $72.68 at the same session while its lowest single day price was $69.35. In the last five days, it saw a rise of about 5.91%, Syneos Health Inc. shares gained by almost 5.18% since the beginning of the year. However, the share price has dropped to as low as -3.49% below its one year high. On 01/07/21, the company shares recorded $72.68, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $66.01. The company’s shares have inclined by 19.51% in the past year. The 50-day SMA achieved is $64.28 while the 200-day SMA is $58.37. Volume dropped to 0.63 million from 0.8 million in the previous session.
Syneos Health Inc. [SYNH] Valuation Measures
Notably, Syneos Health Inc. [SYNH] stock cannot be classified as a good candidate in the listing of underestimated low-priced Diagnostics & Research companies to purchase soonest possible with the prevailing 12-month PE ratio of 39.37. The measure means the stock is exchanging at a premium as compared to the 37.47x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.65 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 7.07 which means SYNH serve an unattractive investment opportunity compared to its competitors.
SYNH Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 69.78 level, and in case of violation of this particular level, it will cause more drop to 67.90 level. On the upper level, 74.56 is still the key resistance. The stock may increase to the subsequent resistance at 73.11. The Relative Strength Index (RSI) pinned on the 14-day chart is 67.48, implying a neutral technical stance while the MACD stands at 1.88, meaning price will increase in the next trading period. Percent R indicator moved to 15.09%, implying bullish price movement. Stochastic %K at 79.40% suggest holding the stock.
What is the short interest in Syneos Health Inc.?
Short interest in the Syneos Health Inc. stock has plunged, decreasing by -0.34 million shares to total 6.01 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 5.67 million, data from Yahoo Finance shows. The increase of 5.66% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 9.68% of the overall float for the stock.
Syneos Health Inc.’s Biggest Shareholders: Who Owns Syneos Health Inc. [SYNH]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 8,355,188 shares or roughly 8.03% of the outstanding SYNH shares. This means their shares have increased by 477,313 from the 8,355,188 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, BlackRock Fund Advisors updated stake is worth $418,591,100. Details in the latest 13F filings reveal that ClearBridge Investments LLC acquired their 5.96% stake valued at $226,043,534 while Mackenzie Financial Corp. added theirs at $194,486,224. During the last quarter, ClearBridge Investments LLC raised 193,144 of its shares in Syneos Health Inc. while Mackenzie Financial Corp. bought 303,726 shares. The Fidelity Management & Research Co’s holdings currently number 2,563,413 shares at $183694175.58. According to the firm’s last 13F report, ArrowMark Colorado Holdings LLC shares in the company at filing stood at 2,384,337 shares, roughly $156,984,748.
SYNH Earnings Forecast For The Current Quarter
Syneos Health Inc. [SYNH] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.14B and an earnings per share of $1.1 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.24B at an EPS of $0.9 for Mar 2021. The estimates represent downside of 16.10% and 23.05% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SYNH Earnings Estimates For The Current Year
For the financial year, Syneos Health Inc. [NASDAQ:SYNH] is expected to bring in revenue of $4.42B. The returns are nearly $-260.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 3.4, higher than that of FY19 by $0.17. Estimates put this year’s earnings growth at 5.30%, 22.90% for the next, and at an annual 14.31% over the next 5-year period. As for sales, forecasts are for a decrease of -5.70% in the current fiscal year and a further 16.10% over the following year.
What are analyst thoughts on Syneos Health Inc.?
Looking forward to the Syneos Health Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Syneos Health Inc. stock at $79.00 within the next 12 months, which represents almost 9.29 per cent growth from its previous closing price of $71.66. The highest analysts’ target for Syneos Health Inc. stock projections is $90.00 and the lowest one is $70.00. Still, 14 analysts sharing their consensus rating for SYNH stock in 2021 agree that it is an Overweight.