Insider Selling: Magellan Health Services CFO Sells 19,200 Shares of Stock (MGLN)
Magellan Health Services (NASDAQ:MGLN) CFO Jonathan N. Rubin unloaded 19,200 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $62.46, for a total transaction of $1,199,232.00. Following the completion of the transaction, the chief financial officer now directly owns 16,382 shares of the company’s stock, valued at approximately $1,023,220. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
MGLN has been the subject of a number of recent research reports. 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. Magellan Health Services presently has a consensus rating of “Hold” and a consensus price target of $60.82.
Shares of Magellan Health Services (NASDAQ:MGLN) traded down 1.39% on Thursday, hitting $61.86. The stock had a trading volume of 162,576 shares. Magellan Health Services has a 52 week low of $53.51 and a 52 week high of $63.36. The stock has a 50-day moving average of $60.2 and a 200-day moving average of $59.02. The company has a market cap of $1.705 billion and a P/E ratio of 14.14.
Magellan Health Services (NASDAQ:MGLN) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.01 earnings per share. Magellan Health Services’s revenue was up 17.6% compared to the same quarter last year. On average, analysts predict that Magellan Health Services will post $2.40 earnings per share 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.
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.