Magellan Health Services Inc. (MGLN) Given Average Recommendation of “Hold” by Brokerages
Magellan Health Services Inc. (NASDAQ:MGLN) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the stock. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $68.50.
MGLN has been the topic of several recent analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $76.00 price target (down from $86.00) on shares of Magellan Health Services in a report on Monday, September 26th. Zacks Investment Research raised shares of Magellan Health Services from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Thursday, July 21st. KeyCorp initiated coverage on shares of Magellan Health Services in a report on Thursday, June 30th. They issued an “equal weight” rating on the stock. TheStreet cut shares of Magellan Health Services from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Finally, Leerink Swann reiterated a “hold” rating on shares of Magellan Health Services in a research note on Friday, August 12th.
Magellan Health Services (NASDAQ:MGLN) traded down 0.42% during mid-day trading on Wednesday, hitting $54.17. 73,176 shares of the stock traded hands. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 36.85 and a beta of 0.49. Magellan Health Services has a 1-year low of $45.40 and a 1-year high of $72.31. The stock has a 50-day moving average of $54.66 and a 200 day moving average of $63.41.
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Magellan Health Services (NASDAQ:MGLN) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.04. The company earned $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Magellan Health Services had a net margin of 0.77% and a return on equity of 6.33%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 earnings per share. On average, equities analysts expect that Magellan Health Services will post $2.38 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. PineBridge Investments L.P. raised its position in Magellan Health Services by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,122 shares of the company’s stock valued at $205,000 after buying an additional 116 shares in the last quarter. Oak Associates Ltd. OH raised its position in Magellan Health Services by 2.4% in the second quarter. Oak Associates Ltd. OH now owns 6,885 shares of the company’s stock valued at $453,000 after buying an additional 160 shares in the last quarter. Eqis Capital Management Inc. raised its position in Magellan Health Services by 3.3% in the second quarter. Eqis Capital Management Inc. now owns 5,865 shares of the company’s stock valued at $386,000 after buying an additional 188 shares in the last quarter. Arizona State Retirement System raised its position in Magellan Health Services by 1.6% in the second quarter. Arizona State Retirement System now owns 12,812 shares of the company’s stock valued at $843,000 after buying an additional 200 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Magellan Health Services by 9.4% in the second quarter. Teacher Retirement System of Texas now owns 3,364 shares of the company’s stock valued at $221,000 after buying an additional 288 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.
Magellan Health Services Company Profile
Magellan Health, Inc is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC).
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