Q4 2016 EPS Estimates for Magellan Health Services Inc. (MGLN) Lifted by Leerink Swann
Magellan Health Services Inc. (NASDAQ:MGLN) – Investment analysts at Leerink Swann lifted their Q4 2016 earnings estimates for Magellan Health Services in a research report issued to clients and investors on Monday. Leerink Swann analyst A. Gupte now expects that the brokerage will post earnings per share of $1.07 for the quarter, up from their prior estimate of $0.94. Leerink Swann currently has a “Hold” rating on the stock.
MGLN has been the topic of several other reports. Zacks Investment Research cut Magellan Health Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Jefferies Group restated a “buy” rating and issued a $76.00 target price (down from $86.00) on shares of Magellan Health Services in a research report on Monday, September 26th. KeyCorp assumed coverage on Magellan Health Services in a research report on Thursday, June 30th. They issued an “equal weight” rating on the stock. Finally, TheStreet cut Magellan Health Services from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $71.33.
Magellan Health Services (NASDAQ:MGLN) traded up 3.13% during trading on Tuesday, reaching $55.69. The company had a trading volume of 119,770 shares. Magellan Health Services has a 12 month low of $45.40 and a 12 month high of $72.31. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 37.88 and a beta of 0.49. The stock has a 50 day moving average price of $54.27 and a 200 day moving average price of $63.02.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/q4-2016-eps-estimates-for-magellan-health-services-inc-mgln-lifted-by-leerink-swann.html
Magellan Health Services (NASDAQ:MGLN) last released its earnings results on Friday, July 29th. The company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.04. Magellan Health Services had a return on equity of 6.33% and a net margin of 0.77%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $0.56 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the stock. AXA boosted its position in shares of Magellan Health Services by 23.4% in the first quarter. AXA now owns 85,043 shares of the company’s stock valued at $5,777,000 after buying an additional 16,106 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Magellan Health Services by 79.7% in the first quarter. Goldman Sachs Group Inc. now owns 119,269 shares of the company’s stock valued at $8,102,000 after buying an additional 52,916 shares during the period. UBS Group AG boosted its position in shares of Magellan Health Services by 35.2% in the first quarter. UBS Group AG now owns 16,709 shares of the company’s stock valued at $1,135,000 after buying an additional 4,348 shares during the period. Oxford Asset Management purchased a new position in shares of Magellan Health Services during the second quarter valued at about $2,114,000. Finally, Alambic Investment Management L.P. boosted its position in shares of Magellan Health Services by 248.5% in the second quarter. Alambic Investment Management L.P. now owns 24,010 shares of the company’s stock valued at $1,579,000 after buying an additional 17,120 shares during the period. Institutional investors own 93.49% of the company’s stock.
About Magellan Health Services
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).
Receive News & Ratings for Magellan Health Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.