Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 9,369 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $89.20, for a total value of $835,714.80. Following the completion of the transaction, the general counsel now owns 22,826 shares in the company, valued at approximately $2,036,079.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Magellan Health (NASDAQ:MGLN) last posted its earnings results on Wednesday, November 1st. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.24. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 EPS.

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A number of equities analysts recently commented on the company. KeyCorp restated a “buy” rating and issued a $89.00 price objective on shares of Magellan Health in a report on Friday, September 22nd. ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Tuesday, July 18th. BidaskClub cut Magellan Health from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 target price on shares of Magellan Health in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Magellan Health currently has an average rating of “Buy” and a consensus price target of $83.00.

Several hedge funds have recently bought and sold shares of the stock. Suntrust Banks Inc. increased its holdings in shares of Magellan Health by 2.1% during the 2nd quarter. Suntrust Banks Inc. now owns 4,018 shares of the company’s stock worth $292,000 after acquiring an additional 84 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Magellan Health by 0.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 20,210 shares of the company’s stock worth $1,473,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Magellan Health by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the company’s stock worth $707,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Magellan Health by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 12,412 shares of the company’s stock worth $905,000 after acquiring an additional 100 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Magellan Health by 6.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock worth $152,000 after acquiring an additional 120 shares during the last quarter. 93.25% of the stock is currently 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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