Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 14,096 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $83.06, for a total transaction of $1,170,813.76. Following the transaction, the general counsel now owns 27,553 shares in the company, valued at approximately $2,288,552.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Magellan Health, Inc. (NASDAQ MGLN) traded up 0.97% on Thursday, reaching $83.10. 99,612 shares of the company’s stock were exchanged. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 23.66 and a beta of 0.57. Magellan Health, Inc. has a 52 week low of $49.50 and a 52 week high of $84.71. The stock’s 50 day moving average is $78.19 and its 200 day moving average is $72.45.

Magellan Health (NASDAQ:MGLN) last released its earnings results on Friday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.48). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Magellan Health had a net margin of 1.59% and a return on equity of 8.88%. The business’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. On average, equities analysts anticipate that Magellan Health, Inc. will post $5.13 earnings per share for the current year.

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Several brokerages recently issued reports on MGLN. Leerink Swann reiterated an “outperform” rating and set a $73.00 price target (up previously from $68.00) on shares of Magellan Health in a research report on Sunday, June 25th. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded 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 report on Tuesday, July 18th. BidaskClub downgraded shares of Magellan Health from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, KeyCorp upgraded 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 report on Thursday, July 13th. One 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’s stock. The stock presently has an average rating of “Buy” and an average target price of $82.20.

Several large investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. grew its holdings in shares of Magellan Health by 0.7% during the first quarter. Suntrust Banks Inc. now owns 3,934 shares of the company’s stock worth $271,000 after purchasing an additional 27 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Magellan Health by 1.5% during the first quarter. Envestnet Asset Management Inc. now owns 3,733 shares of the company’s stock worth $258,000 after purchasing an additional 54 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Magellan Health by 0.5% during the second quarter. Nisa Investment Advisors LLC now owns 20,210 shares of the company’s stock worth $1,473,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Magellan Health by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the company’s stock worth $707,000 after purchasing an additional 100 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Magellan Health by 0.8% during the second quarter. Arizona State Retirement System now owns 12,412 shares of the company’s stock worth $905,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 93.54% of the company’s stock.

About Magellan Health

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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