Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 12,475 shares of Magellan Health stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $88.02, for a total value of $1,098,049.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Magellan Health, Inc. (MGLN) traded down 1.48% during midday trading on Thursday, hitting $86.60. The stock had a trading volume of 64,660 shares. The company has a market cap of $2.05 billion, a P/E ratio of 24.66 and a beta of 0.58. Magellan Health, Inc. has a 12 month low of $49.50 and a 12 month high of $88.10. The firm’s 50-day moving average price is $81.50 and its 200 day moving average price is $74.24.

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 Zacks’ 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 company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business earned $0.58 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts expect that Magellan Health, Inc. will post $5.13 earnings per share for the current fiscal year.

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A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Magellan Health from a “buy” rating to a “hold” rating in a report on Wednesday. KeyCorp restated a “buy” rating and set a $89.00 price objective on shares of Magellan Health in a report on Friday, September 22nd. ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub upgraded Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Leerink Swann restated an “outperform” rating and set a $73.00 price objective (up previously from $68.00) on shares of Magellan Health in a report on Sunday, June 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $81.80.

Several institutional investors have recently bought and sold shares of MGLN. Ameritas Investment Partners Inc. bought a new stake in shares of Magellan Health in the first quarter worth $136,000. Advisory Services Network LLC purchased a new position in Magellan Health during the second quarter valued at $165,000. Eqis Capital Management Inc. purchased a new position in Magellan Health during the second quarter valued at $210,000. HighTower Advisors LLC purchased a new position in Magellan Health during the second quarter valued at $210,000. Finally, Pacad Investment Ltd. lifted its position in Magellan Health by 34.8% during the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock valued at $226,000 after purchasing an additional 800 shares in the last quarter. 93.54% of the stock is owned by institutional investors and hedge funds.

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).

Insider Buying and Selling by Quarter for Magellan Health (NASDAQ:MGLN)

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