Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 33,574 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $80.11, for a total value of $2,689,613.14. Following the completion of the sale, the general counsel now directly owns 14,633 shares of the company’s stock, valued at $1,172,249.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of Magellan Health, Inc. (NASDAQ MGLN) traded up 1.25% during midday trading on Tuesday, hitting $81.25. The company had a trading volume of 252,180 shares. The company has a market capitalization of $1.93 billion, a PE ratio of 23.72 and a beta of 0.59. The company has a 50-day moving average of $73.95 and a 200-day moving average of $72.04. Magellan Health, Inc. has a 12 month low of $49.50 and a 12 month high of $84.71.

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

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MGLN has been the subject of several analyst reports. KeyCorp raised Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price objective for the company in a research note on Thursday, July 13th. BidaskClub raised Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research lowered Magellan Health from a “hold” rating to a “sell” rating in a research note on Friday, April 7th. Finally, Leerink Swann reissued an “outperform” rating and set a $73.00 price target (up from $68.00) on shares of Magellan Health in a research note on Sunday, June 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Magellan Health presently has an average rating of “Buy” and an average price target of $82.20.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Aviance Capital Partners LLC raised its position in shares of Magellan Health by 2.9% in the second quarter. Aviance Capital Partners LLC now owns 22,662 shares of the company’s stock valued at $1,652,000 after buying an additional 637 shares during the last quarter. First Midwest Bank Trust Division raised its position in shares of Magellan Health by 21.4% in the second quarter. First Midwest Bank Trust Division now owns 9,763 shares of the company’s stock valued at $712,000 after buying an additional 1,720 shares during the last quarter. Peregrine Capital Management LLC raised its position in shares of Magellan Health by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 155,856 shares of the company’s stock valued at $11,362,000 after buying an additional 3,122 shares during the last quarter. Aperio Group LLC raised its position in shares of Magellan Health by 14.4% in the second quarter. Aperio Group LLC now owns 12,901 shares of the company’s stock valued at $940,000 after buying an additional 1,627 shares during the last quarter. Finally, Alpha Windward LLC raised its position in shares of Magellan Health by 7.8% in the second quarter. Alpha Windward LLC now owns 6,600 shares of the company’s stock valued at $481,000 after buying an additional 480 shares during the last quarter. Institutional investors own 93.90% 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).

Insider Buying and Selling by Quarter for Magellan Health (NASDAQ:MGLN)

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