Syneos Health Inc Stock Research

Market Summary

USD34.94+0.42

Market Closed

1.22%

SYNH Stock Price

SYNH RSI Chart

SYNH Valuation

Market Cap

3.6B

Price/Earnings (Trailing)

13.33

Price/Sales (Trailing)

0.66

EV/EBITDA

9.61

Price/Free Cashflow

10.65

SYNH Price/Sales (Trailing)

SYNH Profitability

EBT Margin

5.83%

Return on Equity

7.63%

Return on Assets

3.25%

Free Cashflow Yield

9.39%

SYNH Fundamentals

SYNH Revenue

Revenue (TTM)

5.4B

Revenue Y/Y

-0.98%

Revenue Q/Q

1.77%

SYNH Earnings

Earnings (TTM)

266.5M

Earnings Y/Y

-26.9%

Earnings Q/Q

-36.21%

Price Action

52 Week Range

22.8985.45

(Low)(High)

Last 7 days

0.5%

Last 30 days

-7.3%

Last 90 days

-3.5%

Trailing 12 Months

-56.3%

SYNH Financial Health

Current Ratio

1.13

Debt/Equity

0.79

Debt/Cashflow

0.16

SYNH Investor Care

Buy Backs (1Y)

0.82%

Diluted EPS (TTM)

2.58

Peers (Alternatives to Syneos Health)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
A	39.3B	6.8B	-7.12%	-2.94%	31.3	5.73	8.37%	3.64%
IQV	35.5B	14.4B	-10.73%	-16.15%	32.49	2.46	3.86%	12.94%
ILMN	34.4B	4.6B	9.07%	-35.87%	-7.81	7.51	1.28%	-677.95%
CRL	10.1B	4.0B	-11.55%	-31.05%	20.69	2.53	12.31%	24.36%
MID-CAP
MEDP	5.7B	1.5B	-7.14%	13.35%	23.22	3.9	27.80%	34.93%
SYNH	3.6B	5.4B	-7.30%	-56.29%	13.33	0.66	3.46%	13.48%
ARWR	2.6B	278.3M	-26.06%	-48.44%	-16.78	9.32	92.72%	15.56%
NEO	2.2B	509.7M	26.37%	-5.44%	-14.92	4.22	5.24%	-1628.17%
SMALL-CAP
AVXL	664.1M	-	-13.75%	-31.50%	-13.26	291.16	-34.21%	-22.31%
CDXS	252.1M	138.6M	-29.45%	-81.04%	-7.5	1.82	32.30%	-57.86%
PGEN	182.9M	80.7M	-24.99%	-55.14%	6.46	4.15	13.30%	130.72%
SRNE	143.9M	60.3M	-71.28%	-88.95%	-0.29	2.39	17.51%	-38.93%
PSNL	121.4M	65.0M	-18.24%	-68.45%	-1.07	1.87	-23.92%	-73.73%

Financials for Syneos Health

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-0.3%	5,393	5,407	5,419	5,340	5,213
S&GA Expenses	-2.1%	547	559	568	574	571
EBITDA	1.9%	644	632	606	555	-
EBITDA Margin	2.2%	0.12*	0.12*	0.11*	0.10*	-
Earnings Before Taxes	-19.5%	315	391	374	322	315
EBT Margin	-19.3%	0.06*	0.07*	0.07*	0.06*	-
Interest Expenses	13.5%	82.00	73.00	67.00	72.00	79.00
Net Income	-7.1%	266	287	278	242	235
Net Income Margin	-6.9%	0.05*	0.05*	0.05*	0.05*	-
Free Cahsflow	-15.0%	334	392	323	325	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	0.0%	8,199	8,198	8,217	8,304	8,237
Current Assets	-1.0%	1,944	1,963	1,882	1,876	1,766
Cash Equivalents	-34.2%	112	170	106	119	106
Net PPE	3.3%	264	256	255	240	223
Goodwill	1.0%	4,898	4,850	4,898	4,943	4,956
Liabilities	-2.9%	4,704	4,844	4,888	5,002	4,825
Current Liabilities	0.1%	1,725	1,723	1,707	1,722	1,654
Long Term Debt	-2.1%	2,752	2,812	2,906	2,776	-
LT Debt, Non Current	-5.1%	2,611	2,752	2,812	2,906	2,776
Shareholder's Equity	4.2%	3,495	3,354	3,329	3,302	3,413
Retained Earnings	49.5%	168	112	25.00	-52.63	-12.95
Additional Paid-In Capital	0.3%	3,460	3,449	3,426	3,411	3,474
Accumulated Depreciation	9.8%	332	302	-	-	-
Shares Outstanding	0.0%	103	103	103	103	104

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-12.7%	427	489	405	394	450
Share Based Compensation	-8.8%	57.00	63.00	65.00	65.00	65.00
Cashflow From Investing	33.9%	-105	-159	-360	-346	-340
Cashflow From Financing	-8.9%	-339	-311	-221	-202	-277
Buy Backs	0%	150	150	150	223	118

Risks for SYNH

What is the probability of a big loss on SYNH?

81.2%

Probability that Syneos Health stock will be more than 20% underwater in next one year

48.1%

Probability that Syneos Health stock will be more than 30% underwater in next one year.

41.5%

Probability that Syneos Health stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SYNH drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Syneos Health was unfortunately bought at previous high price.

Drawdowns

Returns for SYNH

Cumulative Returns on SYNH

-2.2%

7-Year Cumulative Returns

-1.1%

5-Year Cumulative Returns

-4.4%

3-Year Cumulative Returns

What are the long-term rolling returns for SYNH?

FIve years rolling returns for Syneos Health.

Annualized Returns

Which funds bought or sold SYNH recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-24	PALISADE CAPITAL MANAGEMENT, LP	reduced	-4.64	-8,854,980	25,446,000	0.68%
2023-03-23	ETF MANAGERS GROUP, LLC	new	-	757,332	757,332	0.04%
2023-03-23	MetLife Investment Management, LLC	reduced	-1.76	-740,913	2,402,250	0.02%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-18.78	-565,364	969,636	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-9.25	-13,000	29,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-18.7	-780,338	1,343,660	-%
2023-02-24	SRS Capital Advisors, Inc.	reduced	-52.94	-707	293	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	reduced	-19.81	-1,131,000	1,875,000	0.02%
2023-02-21	NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC	reduced	-35.77	-349,696	349,304	0.01%
2023-02-21	MACQUARIE GROUP LTD	reduced	-99.76	-54,249,000	102,000	-%

Latest Funds Activity

Are funds buying SYNH calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SYNH

No. of Funds

Syneos Health News

Schedule 13G FIlings of Syneos Health

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 06, 2023	wellington management group llp	9.60%	9,880,341	SC 13G/A
Jan 23, 2023	blackrock inc.	10.7%	11,030,086	SC 13G/A
Jan 10, 2023	vanguard group inc	10.05%	10,346,287	SC 13G/A
Apr 08, 2022	blackrock inc.	11.1%	11,527,780	SC 13G/A
Feb 04, 2022	wellington management group llp	9.28%	9,622,180	SC 13G/A
Feb 03, 2022	blackrock inc.	9.6%	9,910,450	SC 13G/A
Jun 09, 2021	wellington management group llp	10.28%	10,670,655	SC 13G
Jun 09, 2021	thomas h. lee advisors, llc	0%	0	SC 13D/A
Jun 09, 2021	advent international corp/ma	0%	0	SC 13D/A
May 11, 2021	thomas h. lee advisors, llc	5.40%	5,602,698	SC 13D/A

SYNH Fair Value

Syneos Health fair value in different scenarios

The table shows the Fair Value estimates for Syneos Health for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	32.83 -6.04%	42.82 22.55%	70.45 101.63%	168.18 381.34%	260.42 645.33%
Current Inflation	30.82 -11.79%	39.44 12.88%	63.11 80.62%	146.35 318.86%	224.15 541.53%
Very High Inflation	28.31 -18.98%	35.33 1.12%	54.42 55.75%	121.06 246.48%	182.49 422.30%

Historical Syneos Health Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Syneos Health

View All Filings

Date Filed	Form Type	Document
Mar 17, 2023	4	Insider Trading
Feb 24, 2023	4	Insider Trading
Feb 24, 2023	4	Insider Trading
Feb 24, 2023	4	Insider Trading
Feb 24, 2023	4	Insider Trading
Feb 24, 2023	4	Insider Trading
Feb 17, 2023	4	Insider Trading
Feb 16, 2023	10-K	Annual Report
Feb 16, 2023	8-K	Current Report
Feb 06, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for SYNH

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-15	Kralowetz Donna Hildebrand	sold (taxes)	-4,931	33.78	-146	evp, chief accounting officer
2023-02-23	Meggs Jason M.	acquired	-	-	7,658	chief financial officer
2023-02-23	Olefson Jonathan	acquired	-	-	4,102	general counsel & corp secty
2023-02-23	Meggs Jason M.	sold (taxes)	-99,717	38.25	-2,607	chief financial officer
2023-02-23	KEEFE MICHELLE	acquired	-	-	9,201	chief executive officer
2023-02-23	Brooks Michael Lee	acquired	-	-	2,821	chief operating officer
2023-02-23	Tucat Christian	acquired	-	-	2,457	chief business officer
2023-02-23	Olefson Jonathan	sold (taxes)	-76,538	38.25	-2,001	general counsel & corp secty
2023-02-23	KEEFE MICHELLE	sold (taxes)	-127,678	38.25	-3,338	chief executive officer
2023-02-23	Tucat Christian	sold (taxes)	-40,200	38.25	-1,051	chief business officer

About Syneos Health

Michelle Keefe

http://www.syneoshealth.com

27500

Syneos Health, Inc. provides biopharmaceutical outsourcing 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 services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics in the Phase I to IV of clinical development. This segment also provides individual services, including product development and regulatory consulting, project management, protocol development, investigational site recruitment, clinical monitoring, technology-enabled patient recruitment and engagement, clinical home health, clinical trial diversity, biometric, and regulatory affair services. The Commercial Solutions segment provides commercialization services, including deployment solutions, communications solutions, such as public relations, advertising, and medical communication services; and consulting services to the pharmaceutical, biotechnology, and healthcare industries. The company was formerly known as INC Research Holdings, Inc. and changed its name to Syneos Health, Inc. in January 2018. Syneos Health, Inc. was incorporated in 2010 and is headquartered in Morrisville, North Carolina.

SYNH Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 5,393,082	$ 5,212,970	$ 4,415,777
Costs and operating expenses:
Direct costs (exclusive of depreciation and amortization)	4,138,816	3,994,484	3,398,142
Selling, general, and administrative expenses	547,254	570,765	472,726
Restructuring and other costs	56,641	22,816	29,414
Depreciation	86,053	73,832	70,185
Amortization	161,126	161,793	152,167
Total operating expenses	4,989,890	4,823,690	4,122,634
Income from operations	403,192	389,280	293,143
Total other expense, net:
Interest income	(1,609)	(111)	(265)
Interest expense	82,397	79,252	91,145
Loss on extinguishment of debt	817	3,612	1,581
Other expense (income), net	7,022	(8,633)	(2,976)
Total other expense, net	88,627	74,120	89,485
Income before provision for income taxes	314,565	315,160	203,658
Income tax expense (benefit)	48,068	80,329	10,871
Net income	$ 266,497	$ 234,831	$ 192,787
Earnings per share:
Basic (USD per share)	$ 2.59	$ 2.26	$ 1.85
Diluted (USD per share)	$ 2.58	$ 2.24	$ 1.83
Weighted average common shares outstanding:
Basic (in shares)	102,974	103,872	104,168
Diluted (in shares)	103,477	105,065	105,465

SYNH Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash, cash equivalents, and restricted cash	$ 112,004	$ 106,475
Accounts receivable and unbilled services, net	1,645,162	1,524,890
Prepaid expenses and other current assets	186,770	135,091
Total current assets	1,943,936	1,766,456
Property and equipment, net	264,295	222,657
Operating lease right-of-use assets	172,794	209,408
Goodwill	4,897,518	4,956,015
Intangible assets, net	680,863	854,067
Deferred income tax assets	50,677	35,387
Other long-term assets	189,135	193,103
Total assets	8,199,218	8,237,093
Current liabilities:
Accounts payable	118,621	107,535
Accrued expenses	614,200	614,441
Deferred revenue	923,875	868,455
Current portion of operating lease obligations	43,984	43,058
Current portion of finance lease obligations	24,011	20,627
Total current liabilities	1,724,691	1,654,116
Long-term debt	2,611,166	2,775,721
Operating lease long-term obligations	175,568	205,798
Finance lease long-term obligations	44,124	34,181
Deferred income tax liabilities	92,155	78,062
Other long-term liabilities	56,513	76,660
Total liabilities	4,704,217	4,824,538
Commitments and contingencies (Note 16)
Shareholders’ equity:
Preferred stock, $0.01 par value; 30,000 shares authorized, 0 shares issued and outstanding as of December 31, 2021 and 2020	0	0
Common stock, $0.01 par value; 600,000 shares authorized, 102,911 and 103,764 shares issued and outstanding as of December 31, 2022 and 2021, respectively	1,029	1,038
Additional paid-in capital	3,460,152	3,474,088
Accumulated other comprehensive loss, net of taxes	(133,874)	(49,618)
Retained earnings (accumulated deficit)	167,694	(12,953)
Total shareholders’ equity	3,495,001	3,412,555
Total liabilities and shareholders’ equity	$ 8,199,218	$ 8,237,093