Magellan Health, Inc. (MGLN) SVP Jeffrey N. West Sells 18,511 Shares
Magellan Health, Inc. (NASDAQ:MGLN) SVP Jeffrey N. West sold 18,511 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $86.18, for a total transaction of $1,595,277.98. Following the transaction, the senior vice president now directly owns 29,395 shares of the company’s stock, valued at approximately $2,533,261.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Magellan Health, Inc. (NASDAQ MGLN) traded up 1.56% during trading on Tuesday, reaching $88.00. 270,605 shares of the company traded hands. The company has a market cap of $2.08 billion, a PE ratio of 25.06 and a beta of 0.57. The company’s 50-day moving average is $81.23 and its 200 day moving average is $74.14. Magellan Health, Inc. has a 12 month low of $49.50 and a 12 month high of $88.05.
Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.48). Magellan Health had a net margin of 1.59% and a return on equity of 8.88%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, analysts anticipate that Magellan Health, Inc. will post $5.13 earnings per share for the current year.
WARNING: This report was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/10/03/magellan-health-inc-mgln-svp-jeffrey-n-west-sells-18511-shares.html.
A number of equities research analysts have issued reports on the stock. KeyCorp restated a “buy” rating and set a $89.00 price target on shares of Magellan Health in a report on Friday, September 22nd. Leerink Swann reiterated an “outperform” rating and issued a $73.00 price objective (up from $68.00) on shares of Magellan Health in a research note on Sunday, June 25th. ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Tuesday, July 18th. Finally, BidaskClub cut Magellan Health from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $81.80.
Several institutional investors and hedge funds have recently modified their holdings of MGLN. BlackRock Inc. raised its position in shares of Magellan Health by 53,778.2% in the first quarter. BlackRock Inc. now owns 3,012,867 shares of the company’s stock valued at $208,038,000 after purchasing an additional 3,007,275 shares during the period. LSV Asset Management bought a new stake in shares of Magellan Health during the 2nd quarter worth about $44,282,000. Hood River Capital Management LLC bought a new stake in shares of Magellan Health during the 2nd quarter worth about $25,387,000. Renaissance Technologies LLC boosted its holdings in shares of Magellan Health by 11.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,213,099 shares of the company’s stock worth $83,764,000 after buying an additional 122,999 shares during the period. Finally, Thrivent Financial For Lutherans boosted its holdings in shares of Magellan Health by 81.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 228,546 shares of the company’s stock worth $16,661,000 after buying an additional 102,736 shares during the period. 93.54% of the stock is currently owned by institutional investors.
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).
Receive News & Ratings for Magellan Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health Inc. and related companies with MarketBeat.com's FREE daily email newsletter.