Magellan Health Receives Consensus Recommendation of “Hold” from Brokerages (NASDAQ:MGLN)
Magellan Health (NASDAQ:MGLN) has been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the stock, Analyst Ratings News reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $61.15.
Magellan Health (NASDAQ:MGLN) traded down 0.32% during mid-day trading on Tuesday, hitting $58.36. 74,799 shares of the company’s stock traded hands. Magellan Health has a one year low of $53.51 and a one year high of $63.81. The stock’s 50-day moving average is $62. and its 200-day moving average is $59.54. The company has a market cap of $1.682 billion and a price-to-earnings ratio of 16.93.
Magellan Health (NASDAQ:MGLN) last posted its quarterly 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. Analysts expect that Magellan Health will post $2.23 EPS for the current fiscal year.
MGLN has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Magellan Health in a research note on Monday. They now have a $67.00 price target on the stock, down previously from $71.00. Separately, analysts at Barclays cut their price target on shares of Magellan Health from $66.00 to $64.00 in a research note on Monday. They now have an “equal weight” rating on the stock. Finally, analysts at TheStreet upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a research note on Monday, June 16th.
Magellan Health Inc, formerly Magellan Health Services Inc, is engaged in the specialty managed healthcare business.
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