Analysts expect that Magellan Health, Inc. (NASDAQ:MGLN) will announce $1.49 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Magellan Health’s earnings. The highest sales estimate is $1.51 billion and the lowest is $1.48 billion. Magellan Health reported sales of $1.29 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.5%. The company is expected to report its next earnings results on Wednesday, November 8th.

According to Zacks, analysts expect that Magellan Health will report full-year sales of $1.49 billion for the current fiscal year, with estimates ranging from $5.79 billion to $5.80 billion. For the next year, analysts anticipate that the company will post sales of $7.14 billion per share, with estimates ranging from $6.90 billion to $7.46 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Magellan Health.

Magellan Health (NASDAQ:MGLN) last issued its earnings results on Friday, July 28th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.48). Magellan Health had a net margin of 1.59% and a return on equity of 8.88%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was up 21.9% on a year-over-year basis.

Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Tuesday, July 18th. KeyCorp upgraded shares of Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price target for the company in a report on Thursday, July 13th. Finally, Leerink Swann restated an “outperform” rating and issued a $73.00 price target (up previously from $68.00) on shares of Magellan Health in a report 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 stock. The stock presently has an average rating of “Buy” and an average price target of $82.20.

In related news, General Counsel Daniel N. Gregoire sold 14,114 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $80.11, for a total transaction of $1,130,672.54. Following the completion of the transaction, the general counsel now owns 27,573 shares in the company, valued at approximately $2,208,873.03. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jeffrey N. West sold 28,514 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $80.07, for a total transaction of $2,283,115.98. Following the transaction, the senior vice president now owns 17,085 shares of the company’s stock, valued at approximately $1,367,995.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,170 shares of company stock valued at $10,011,005. 3.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new position in shares of Magellan Health during the 1st quarter worth approximately $136,000. Advisory Services Network LLC bought a new position in shares of Magellan Health during the 2nd quarter worth approximately $165,000. Eqis Capital Management Inc. bought a new position in shares of Magellan Health during the 2nd quarter worth approximately $210,000. HighTower Advisors LLC bought a new position in shares of Magellan Health during the 2nd quarter worth approximately $210,000. Finally, Pacad Investment Ltd. raised its stake in shares of Magellan Health by 34.8% during the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock worth $226,000 after acquiring an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.

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Shares of Magellan Health (NASDAQ:MGLN) opened at 83.75 on Friday. The company has a 50-day moving average price of $78.48 and a 200-day moving average price of $72.69. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 23.85 and a beta of 0.57. Magellan Health has a 12 month low of $49.50 and a 12 month high of $84.71.

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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Earnings History and Estimates for Magellan Health (NASDAQ:MGLN)

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