Yahoo Finance Synchrony (SYF) & AGD Extend Partnership With 20-Year Deal
Synchrony Financial SYF and The Academy of General Dentistry (“AGD”) announced the extension of their 20-year agreement, making CareCredit, an exclusive patient financing solution offered in AGD’s benefits program.
With SYF collaborating with AGD, it is evident that the company is focused on expanding the business with attention paid to health systems. Health and Wellness accounted for 16% of the total revenue of SYF in 2022. This collaboration will 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 AGD highlights special financing options like value-added resources and digital payment features that CareCredit will provide to AGD’s members, comprising 35000 dentists.
Synchrony aims to provide dental patients access to treatments in a hassle-free way and provide dentists with educational resources, enabling them to deliver the best clinical care available. 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.
However, dental patients can check if they prequalify for the credit card and fill up the application. Once approved, patients are expected to utilize the credit card to pay dentists. There are short- and long-term financing options, providing flexibility to the user.
Synchrony provides financing solutions to its customers. It works with a diverse group of retailers, manufacturers, buying groups, merchants, industry associations and healthcare service providers, referred to as “partners”. Synchrony connects to its partners and customers through a dynamic financial ecosystem.
Price Performance
Shares of Synchrony have gained 5.4% year to date compared with the industry’s growth of 11.5%.
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Zacks Rank & Key Picks
Synchrony currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are Euronet Worldwide EEFT, Axos Financial AX and StoneX Group SNEX. All these companies carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The Zacks Consensus Estimate for SNEX’s 2023 earnings indicates a 5.7% rise from the prior-year reported figure, while the same for revenues suggests 32.7% growth.
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Euronet Worldwide, Inc. (EEFT) : Free Stock Analysis Report
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