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Magellan Health Services (NASDAQ:MGLN) CFO Jonathan N. Rubin sold 18,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $62.40, for a total value of $1,148,160.00. Following the completion of the sale, the chief financial officer now directly owns 16,382 shares of the company’s stock, valued at approximately $1,022,237. The transaction was disclosed in a filing with the SEC, which is available at this link.

Magellan Health Services (NASDAQ:MGLN) traded up 0.56% on Friday, hitting $62.40. 270,350 shares of the company’s stock traded hands. Magellan Health Services has a 52-week low of $53.51 and a 52-week high of $63.36. The stock’s 50-day moving average is $60.53 and its 200-day moving average is $59.05. The company has a market cap of $1.720 billion and a P/E ratio of 13.98.

Magellan Health Services (NASDAQ:MGLN) last announced its earnings results on Tuesday, April 29th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.01 earnings per share. The company’s quarterly revenue 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.

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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.82.

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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