Magellan Health Inc (MGLN) Receives Consensus Rating of “Hold” from Analysts
Magellan Health Inc (NASDAQ:MGLN) has been given an average rating of “Hold” by the six brokerages that are presently covering the firm. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $78.33.
A number of equities research analysts have recently commented on MGLN shares. Zacks Investment Research lowered Magellan Health from a “hold” rating to a “sell” rating in a research report on Friday, April 7th. Jefferies Group LLC dropped their price target on Magellan Health from $89.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, February 24th.
Magellan Health (NASDAQ:MGLN) traded up 0.92% during trading on Monday, hitting $71.10. The company had a trading volume of 36,395 shares. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 20.76 and a beta of 0.70. Magellan Health has a one year low of $49.50 and a one year high of $84.71. The stock has a 50-day moving average of $68.98 and a 200 day moving average of $70.29.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Wednesday, April 26th. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.33 billion. Magellan Health had a return on equity of 7.96% and a net margin of 1.45%. Magellan Health’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 earnings per share. Equities analysts forecast that Magellan Health will post $5.44 EPS for the current fiscal year.
In related news, Director Eran Broshy sold 4,867 shares of Magellan Health stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $80.00, for a total value of $389,360.00. Following the sale, the director now owns 7,960 shares of the company’s stock, valued at approximately $636,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jeffrey N. West sold 13,512 shares of Magellan Health stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $80.31, for a total value of $1,085,148.72. Following the completion of the sale, the senior vice president now directly owns 24,587 shares in the company, valued at approximately $1,974,581.97. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.
A number of large investors have recently made changes to their positions in MGLN. Elkfork Partners LLC purchased a new stake in shares of Magellan Health during the fourth quarter worth about $111,000. Howe & Rusling Inc. raised its stake in shares of Magellan Health by 27.7% in the first quarter. Howe & Rusling Inc. now owns 1,845 shares of the company’s stock worth $127,000 after buying an additional 400 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Magellan Health during the first quarter worth about $136,000. Credit Agricole S A purchased a new stake in shares of Magellan Health during the fourth quarter worth about $151,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Magellan Health by 4.4% in the first quarter. State of Alaska Department of Revenue now owns 2,620 shares of the company’s stock worth $180,000 after buying an additional 110 shares in the last quarter. 93.10% of the stock is currently owned by institutional investors and hedge funds.
Magellan Health 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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