Magellan Health, Inc. (NASDAQ:MGLN) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Several other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Magellan Health from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Jefferies Group LLC decreased their price target on shares of Magellan Health from $89.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, February 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $77.50.

Magellan Health (MGLN) traded down 0.14% during midday trading on Tuesday, reaching $73.05. 66,721 shares of the company’s stock traded hands. Magellan Health has a 52-week low of $49.50 and a 52-week high of $84.71. The company’s 50-day moving average price is $70.16 and its 200-day moving average price is $72.05. The stock has a market cap of $1.73 billion, a P/E ratio of 21.33 and a beta of 0.63.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data on Wednesday, April 26th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Magellan Health had a net margin of 1.64% and a return on equity of 9.05%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, equities analysts predict that Magellan Health will post $5.44 EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Magellan Health during the fourth quarter worth $6,331,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Magellan Health during the fourth quarter worth $332,000. Comerica Bank raised its stake in Magellan Health by 5.5% in the fourth quarter. Comerica Bank now owns 43,611 shares of the company’s stock worth $3,434,000 after buying an additional 2,254 shares in the last quarter. State Street Corp raised its stake in Magellan Health by 0.8% in the fourth quarter. State Street Corp now owns 641,563 shares of the company’s stock worth $48,286,000 after buying an additional 5,053 shares in the last quarter. Finally, Oxford Asset Management raised its stake in Magellan Health by 33.8% in the fourth quarter. Oxford Asset Management now owns 33,243 shares of the company’s stock worth $2,502,000 after buying an additional 8,394 shares in the last quarter. Institutional investors and hedge funds own 94.27% of the company’s stock.

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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