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Syneos Health Inc. (NASDAQ: SYNH): Are We Watching A Disaster Or Are We Buying A Gold Mine?

In today’s recent session, 1.28 million shares of the Syneos Health Inc. (NASDAQ:SYNH) have been traded, and its beta is 1.60. Most recently the company’s share price was $41.64, and it changed around -$0.05 or -0.12% from the last close, which brings the market valuation of the company to $4.31B. SYNH at last check was trading at a discount to its 52-week high of $79.77, offering almost -91.57% off that amount. The share price’s 52-week low was $22.89, which indicates that the recent value has risen by an impressive 45.03% since then. We note from Syneos Health Inc.’s average daily trading volume that its 10-day average is 7.94 million shares, with the 3-month average coming to 2.47 million.

Syneos Health Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 2.80. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 12 recommended SYNH as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Syneos Health Inc. is expected to report earnings per share of $0.79 for the current quarter.

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Syneos Health Inc. (NASDAQ:SYNH) trade information

Instantly SYNH has been showing red trend so far today with a performance of -0.12% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 41.86 on Tuesday, 05/23/23 increased the stock’s daily price by 0.53%. The company’s shares are currently up 13.52% year-to-date, but still up 0.24% over the last five days. On the other hand, Syneos Health Inc. (NASDAQ:SYNH) is 9.75% up in the 30-day period. We can see from the shorts that 2.87 million shares have been sold at a short interest cover period of 2.53 day(s).

The consensus price target as assigned by Wall Street analysts is $42.67, which translates to bulls needing to increase their stock price by 2.41% from its current value. Analyst projections state that SYNH is forecast to be at a low of $40.00 and a high of $43.00. In order for the stock price to hit the forecast high, the stock would need to plunge -3.27% from its current level, while the stock would need to crash 3.94% from its current level to reach the projected low.

Syneos Health Inc. (SYNH) estimates and forecasts

Syneos Health Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 25.50 percent over the past six months and at a -28.39% annual growth rate that is well below the industry average of 10.70%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -36.80% in revenue this quarter, and will report a decrease of -27.60% in the next quarter. The year-over-year growth rate is expected to be -5.10%, down from the previous year.

Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $1.26 billion in revenue for the current quarter. 8 analysts expect Syneos Health Inc. to make $1.24 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $1.36 billion and $1.34 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -7.10%. Forecasts for the next quarter put sales growth at -7.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 44.90%. Syneos Health Inc. earnings are expected to increase by 15.20% in 2023, but the outlook is positive 0.30% per year for the next five years.

SYNH Dividends

Syneos Health Inc.’s next quarterly earnings report is expected to be released around July 31 and August 04.

Syneos Health Inc. (NASDAQ:SYNH)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.74% of Syneos Health Inc. shares, and 103.27% of them are in the hands of institutional investors. The stock currently has a share float of 104.04%. Syneos Health Inc. stock is held by 453 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2023, it held 10.14% of the shares, which is about 10.51 million shares worth $374.21 million.

Vanguard Group, Inc. (The), with 10.08% or 10.45 million shares worth $372.2 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 3.21 million shares worth $128.95 million, making up 3.11% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.12 million shares worth around $114.45 million, which represents about 3.02% of the total shares outstanding.

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