Syneos Health Inc Down 16.29% To $66.25 After Earnings Beat

Syneos Health Inc (SYNH) said before open Tuesday that it earned $1.25 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $1.4 billion, missing estimates by $29.3 million.

In the same quarter a year ago, the company earned $0.97 per share on revenue of $1.3 billion.

The stock is down 16.29% to $66.25 after the report.

Syneos Health Inc's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Syneos Health Inc a Bullish Sentiment Rank from InvestorsObserver.

Syneos Health Inc has performed a little above average during the past few months. Before the report, Syneos Health Inc received a Long-Term Technical Rank by InvestorsObserver of 65, putting it in the top half of stocks. The firm was recently trading at a 52-week low of $62.28 on June 14, 2022 and set a 52-week high on November 12, 2021 at $104.18.

Syneos is a global contract research and outsourced commercialization organization that provides services to pharmaceutical and biotechnology firms. Its clinical solutions segment offers early- to late-stage clinical trial support that ranges from specialized staffing models to strategic partnerships that oversee nearly all aspects of a drug program, while the company's commercialization solutions includes outsourced sales, consulting, public relations, and advertising services.