Magellan Health Services Given New $64.00 Price Target at Barclays (MGLN)
Research analysts at Barclays lowered their target price on shares of Magellan Health Services (NASDAQ:MGLN) from $66.00 to $64.00 in a report released on Monday. The firm currently has an “equal weight” rating on the stock. Barclays’ price objective suggests a potential upside of 9.85% from the company’s current price.
Several other analysts have also 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. 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.48.
Magellan Health Services (NASDAQ:MGLN) traded up 0.07% on Monday, hitting $58.30. 111,404 shares of the company’s stock traded hands. Magellan Health Services has a 1-year low of $53.51 and a 1-year high of $63.81. The stock has a 50-day moving average of $62.31 and a 200-day moving average of $59.56. The company has a market cap of $1.680 billion and a P/E ratio of 16.85.
Magellan Health Services (NASDAQ:MGLN) last announced its earnings results on Friday, July 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.17. The company had revenue of $888.00 million for the quarter, compared to the consensus estimate of $863.10 million. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. 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.
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