Magellan Health, Inc. (MGLN) General Counsel Daniel N. Gregoire Sells 4,559 Shares
Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 4,559 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $80.68, for a total value of $367,820.12. Following the transaction, the general counsel now directly owns 18,016 shares in the company, valued at approximately $1,453,530.88. The transaction was disclosed in a filing with the SEC, which is available at this link.
Magellan Health, Inc. (MGLN) traded down 2.58% on Wednesday, hitting $79.15. The stock had a trading volume of 128,908 shares. The firm has a market cap of $1.88 billion, a PE ratio of 23.11 and a beta of 0.59. The company’s 50 day moving average is $73.95 and its 200 day moving average is $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 released its quarterly earnings results 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 return on equity of 9.05% and a net margin of 1.64%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue was up 16.9% compared to the same quarter last year. On average, equities research analysts expect that Magellan Health, Inc. will post $5.44 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. boosted its position in Magellan Health by 0.7% in the first quarter. Suntrust Banks Inc. now owns 3,934 shares of the company’s stock valued at $271,000 after buying an additional 27 shares during the period. Bank of New York Mellon Corp boosted its position in Magellan Health by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 313,877 shares of the company’s stock valued at $21,674,000 after buying an additional 7,889 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Magellan Health by 12.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,844 shares of the company’s stock valued at $1,232,000 after buying an additional 1,974 shares during the period. Great West Life Assurance Co. Can boosted its position in Magellan Health by 8.7% in the first quarter. Great West Life Assurance Co. Can now owns 32,715 shares of the company’s stock valued at $2,256,000 after buying an additional 2,611 shares during the period. Finally, Bowling Portfolio Management LLC acquired a new position in Magellan Health during the first quarter valued at approximately $723,000. Institutional investors and hedge funds own 93.90% of the company’s stock.
Several equities analysts recently issued reports on the company. Zacks Investment Research raised Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Tuesday, July 18th. KeyCorp raised Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 target price on the stock 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. Finally, Leerink Swann reissued an “outperform” rating and set a $73.00 target price (up previously from $68.00) on shares of Magellan Health in a research note on Sunday, June 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $82.20.
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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