Magellan Health Services Price Target Cut to $65.00 (MGLN)
Investment analysts at Deutsche Bank decreased their price target on shares of Magellan Health Services (NASDAQ:MGLN) from $68.00 to $65.00 in a note issued to investors on Friday, ARN reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective would suggest a potential upside of 8.46% from the company’s current price.
Shares of Magellan Health Services (NASDAQ:MGLN) opened at 59.93 on Friday. Magellan Health Services has a 1-year low of $46.00 and a 1-year high of $60.54. The stock has a 50-day moving average of $57.60 and a 200-day moving average of $54.32. The company has a market cap of $1.609 billion and a P/E ratio of 9.94.
Magellan Health Services (NASDAQ:MGLN) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.69. The company had revenue of $873.60 million for the quarter, compared to the consensus estimate of $875.26 million. During the same quarter last year, the company posted $1.12 earnings per share. Magellan Health Services’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that Magellan Health Services will post $4.18 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MGLN. Analysts at Barclays cut their price target on shares of Magellan Health Services from $70.00 to $66.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Analysts at Citigroup Inc. downgraded shares of Magellan Health Services from a “neutral” rating to a “sell” rating in a research note to investors on Tuesday, July 30th. They now have a $52.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $60.25.
Magellan Health Services Inc, is engaged in the specialty managed healthcare business. The Company provides services to health plans, insurance companies, employers, labor unions and various governmental agencies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.