Syneos' 2Q Performance Largely Tracks Our Expectations Amid a Minor Guidance Lift
Syneos' performance continues to track our expectations, and we are maintaining our $53 fair value estimate and narrow-moat rating. The company slightly raised its adjusted net income guidance range to $268 million-$297 million, which still encompasses our $287 million forecast. As a result, this moves Syneos' adjusted diluted EPS guidance range slightly, up to $2.55-$2.83 per share, encompassing our $2.77 forecast. The company noted significant wins across small and mid-sized customers, as well...Syneos Health is a holding company. Through its subsidiaries, the company is a biopharmaceutical solutions organization providing a suite of clinical and commercial services to customers in the biopharmaceutical, biotechnology, and medical device industries. The company has two reportable segments: Clinical Solutions, which provides a variety of clinical development services spanning Phase I to Phase IV, including global studies, unbundled service offerings, and Real World Evidence studies; and Commercial Solutions, which provides customers with a range of commercialization services, including field teams and medication adherence services, communications solutions, and consulting services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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