Yahoo Finance Synchrony (SYF) & Nextech Partner for CareCredit's Integration
Synchrony Financial SYF recently announced its collaboration with Nextech to integrate its CareCredit’s health and wellness credit card into Nextech’s software. This new addition to Nextech’s software would enhance the payment experience of patients by providing a multitude of payment options.
This move bodes well for Synchrony Financial, as Nextech’s adoption of CareCredit should boost the top line in the future. With SYF and Nextech’s collaboration, it is evident that Synchrony Financial is focused on expanding the business with attention paid to health systems. Health and Wellness accounted for 16% of the total revenues of SYF in the first quarter of 2023. This collaboration will also lead to increased contributions from this segment and a rise in the loan receivables portfolio, paving the way for higher interest income and fees on loans.
SYF’s collaboration with Nextech highlights the special financing options, like value-added resources and digital payment features, that CareCredit would provide to Nextech customers. Nextech is a healthcare technology company aiming to reduce administrative tensions and deliver impeccable patient care to its customers. With CareCredit’s integration, Nextech will be able to deliver well on its mission to provide a broader range of payment options under its various services.
Patients can benefit from CareCredit when their medical insurance does not cover their full costs or to avail of special financing options that may not be available in other cards. With the help of CareCredit, front office staff can auto-post payments and refunds, thereby improving efficiency. Nextech will benefit from improved patient collections and enhanced user experience, which bode well for the company.
Price Performance
Shares of Synchrony Financial have gained 17.2% in the past three months compared with the industry’s growth of 4.4%.
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Zacks Rank & Key Picks
Synchrony Financial currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Financial – Miscellaneous Space are Virtu Financial, Inc. VIRT, WisdomTree, Inc. WT and Chicago Atlantic Real Estate Finance, Inc. REFI. Each of these companies presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The bottom line of Virtu Financial outpaced estimates in two of the trailing four quarters, while it missed twice, the average surprise being 1.2%.
The Zacks Consensus Estimate for VIRT’s 2023 earnings is pegged at $2.41 per share, while the same for revenues is pegged at $1.29 billion for 2023. The consensus mark for VIRT’s 2023 earnings has moved 0.8% north in the past 60 days.
WisdomTree’s bottom line outpaced estimates in one of the trailing four quarters, met twice and missed once. The average of earnings surprises is 6.9%.
The Zacks Consensus Estimate for WT’s 2023 earnings indicates a 34.6% rise, while the same for revenues suggests 14.7% growth from the respective prior-year reported figures.
The bottom line of Chicago Atlantic Real Estate Finance outpaced the Zacks Consensus Estimate in two of the trailing four quarters, met once and missed once, the average surprise being 4.5%. The consensus mark for REFI’s 2023 earnings has moved 1.6% north in the past 60 days.
The Zacks Consensus Estimate for REFI’s 2023 earnings indicates a 36.3% rise, while the same for revenues suggests 34.2% growth from the respective prior-year reported figures.
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Synchrony Financial (SYF) : Free Stock Analysis Report
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