Syneos Health Stock Price, News & Analysis

Syneos Health (Nasdaq:SYNH) announces leadership changes as Michelle Keefe succeeds Alistair Macdonald as CEO, following his retirement after 20 years. Keefe, with over 30 years in life sciences, aims to enhance Syneos Health's integrated solutions. Michael Brooks appointed as COO, focusing on customer success and integrated strategies. The company reported first-quarter results and updated full-year guidance, with Keefe emphasizing the unique market position of Syneos Health in delivering value to customers and shareholders. A conference call to discuss results is scheduled for today.

Syneos Health (Nasdaq:SYNH) reported Q1 2022 revenue of $1,336.3 million, a 10.5% increase year-over-year, driven by both Clinical and Commercial Solutions. Clinical Solutions revenues rose 8.4%, while Commercial Solutions surged 18.1%. GAAP net income increased 19.2% to $46.2 million, with diluted EPS at $0.44. The company announced a book-to-bill ratio of 1.20x for the quarter. Full-year guidance remains unchanged, indicating revenue and earnings stability amidst market challenges, including COVID-19 and geopolitical tensions.

Syneos Health (Nasdaq:SYNH) announced the promotions of Baba Shetty to President, Technology and Data Solutions, and Suma Ramadas to Executive Vice President, Medical Affairs, emphasizing their commitment to internal talent and integrated solutions.

Shetty will drive advancements in technology and data capabilities, including AI tools, while overseeing the integration of acquired firms into the Dynamic Assembly® network. Ramadas aims to enhance Medical Affairs services across the product lifecycle, focusing on growth opportunities in this market.

Syneos Health (Nasdaq:SYNH) will announce its first quarter 2022 financial results on April 29, before an earnings call scheduled for 8:00 a.m. ET. A live webcast will be available via the Investor Relations section of their website, with telephone participation requiring prior registration. A replay of the webcast will be accessible after 1:00 p.m. on the same date. As a fully integrated biopharmaceutical solutions organization, Syneos Health focuses on expediting customer success through a product development mindset and a strategic integration of clinical and commercial capabilities.

Syneos Health reported fourth quarter revenue of $1,373.4 million, a 20.5% year-over-year increase. However, net new business awards in Clinical Solutions declined by 72.9% to $357.1 million, with a book-to-bill ratio of 0.34x. Excluding reimbursable expenses, adjusted diluted earnings per share rose 33.3% to $1.48. GAAP net income fell 17.3% to $76.0 million. The company anticipates 2022 revenue between $5,600 million and $5,750 million, reflecting strong fundamentals despite challenges from prior year disruptions.

Syneos Health (Nasdaq:SYNH) is set to announce its fourth quarter and full year 2021 financial results on February 17, 2022, ahead of its earnings call at 8:00 a.m. ET. The live conference call will be accessible via webcast on Syneos Health's Investor Relations webpage, with telephone participation requiring advance registration. Following the call, a replay will be available online. As a fully integrated biopharmaceutical solutions organization, Syneos Health aims to accelerate customer success by combining clinical development and commercial capabilities.

Syneos Health (Nasdaq:SYNH) announced the appointment of two new independent directors to its Board: Barbara W. Bodem and Alfonso G. Zulueta. These appointments enhance the board's composition, bringing financial expertise and extensive industry knowledge. Bodem, former CFO at Hillrom, will serve as a Class I director on the Audit Committee, while Zulueta, with over three decades at Eli Lilly, becomes a Class III director. With this, the board comprises 11 directors, 10 of whom are independent, aimed at strengthening oversight on strategic initiatives.

MORRISVILLE, N.C., Jan. 04, 2022 - Syneos Health (Nasdaq:SYNH) announced that CEO Alistair Macdonald will present at the 40th Annual J.P. Morgan Healthcare Conference on January 12, 2022, at 10:30 a.m. EST. A webcast, presentation materials, and an archived audio replay will be available on the Company’s Investor Relations website.

Syneos Health is a fully integrated biopharmaceutical solutions organization, employing approximately 28,000 people across over 110 countries to expedite the delivery of therapies.