Magellan Health, Inc. (MGLN) CEO Sells $177,543.30 in Stock
Magellan Health, Inc. (NASDAQ:MGLN) CEO Mostafa Kamal sold 2,190 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $81.07, for a total transaction of $177,543.30. Following the sale, the chief executive officer now directly owns 157 shares in the company, valued at approximately $12,727.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Magellan Health, Inc. (NASDAQ MGLN) traded up 1.86% during mid-day trading on Friday, hitting $81.95. 131,456 shares of the company traded hands. The stock has a market capitalization of $1.94 billion, a PE ratio of 23.33 and a beta of 0.57. The firm’s 50 day moving average price is $77.98 and its 200-day moving average price is $72.40. Magellan Health, Inc. has a 1-year low of $49.50 and a 1-year high of $84.71.
Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by $0.48. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Magellan Health had a net margin of 1.59% and a return on equity of 8.88%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. On average, equities research analysts forecast that Magellan Health, Inc. will post $5.13 EPS for the current year.
A number of research firms have weighed in on MGLN. ValuEngine raised shares of Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of 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 shares of 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. Finally, Leerink Swann reaffirmed 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Magellan Health presently has a consensus rating of “Buy” and a consensus price target of $82.20.
A number of large investors have recently modified their holdings of MGLN. Ameritas Investment Partners Inc. purchased a new position in Magellan Health in the 1st quarter worth $136,000. Advisory Services Network LLC purchased a new position in Magellan Health in the 2nd quarter worth $165,000. State of Alaska Department of Revenue raised its position in Magellan Health by 4.4% in the 1st quarter. State of Alaska Department of Revenue now owns 2,620 shares of the company’s stock worth $180,000 after purchasing an additional 110 shares during the period. Eqis Capital Management Inc. purchased a new position in Magellan Health in the 2nd quarter worth $210,000. Finally, HighTower Advisors LLC purchased a new position in Magellan Health in the 2nd quarter worth $210,000. Institutional investors own 93.54% 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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