Magellan Health Services CFO Sells $1,166,778 in Stock (MGLN)
Magellan Health Services (NASDAQ:MGLN) CFO Jonathan N. Rubin sold 18,600 shares of the company’s stock in a transaction dated Thursday, June 19th. The stock was sold at an average price of $62.73, for a total transaction of $1,166,778.00. Following the transaction, the chief financial officer now directly owns 16,382 shares of the company’s stock, valued at approximately $1,027,643. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Magellan Health Services from a “hold” rating to a “buy” rating in a research note on Monday, June 16th. Separately, analysts at Jefferies Group raised their price target on shares of Magellan Health Services from $56.00 to $58.00 in a research note on Wednesday, April 30th. They now have a “hold” rating on the stock. Finally, analysts at Ned Davis Research upgraded shares of Magellan Health Services from a “neutral” rating to a “buy” rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Magellan Health Services currently has a consensus rating of “Hold” and a consensus price target of $60.82.
Magellan Health Services (NASDAQ:MGLN) traded down 0.05% during mid-day trading on Tuesday, hitting $62.81. 41,298 shares of the company’s stock traded hands. Magellan Health Services has a one year low of $53.51 and a one year high of $63.36. The stock’s 50-day moving average is $59.88 and its 200-day moving average is $58.99. The company has a market cap of $1.731 billion and a P/E ratio of 14.16.
Magellan Health Services (NASDAQ:MGLN) last announced its earnings results on Tuesday, April 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.17. The company had revenue of $966.50 million for the quarter, compared to the consensus estimate of $1,000.00 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. Analysts expect that Magellan Health Services will post $2.40 EPS for the current fiscal year.
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.
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