Magellan Health Services CFO Jonathan N. Rubin Unloads 18,400 Shares (MGLN)
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.
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.