Shares of Magellan Health Inc (NASDAQ:MGLN) have earned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $85.33.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Magellan Health from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Jefferies Group reaffirmed a “buy” rating and set a $94.00 price target on shares of Magellan Health in a research report on Friday, October 13th. KeyCorp reaffirmed a “buy” rating and set a $89.00 price target on shares of Magellan Health in a research 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. Finally, BidaskClub raised Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th.

Shares of Magellan Health (MGLN) traded up $4.80 during mid-day trading on Friday, hitting $89.30. The stock had a trading volume of 674,832 shares, compared to its average volume of 142,223. The firm has a market capitalization of $2,130.00, a P/E ratio of 19.01, a PEG ratio of 1.08 and a beta of 0.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.28. Magellan Health has a 1-year low of $64.05 and a 1-year high of $92.00.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $1.64 earnings per share (EPS) 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 the consensus estimate of $1.49 billion. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 earnings per share. sell-side analysts forecast that Magellan Health will post 5.16 earnings per share for the current year.

In related news, General Counsel Daniel N. Gregoire sold 14,096 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $83.06, for a total value of $1,170,813.76. Following the transaction, the general counsel now directly owns 27,553 shares of the company’s stock, valued at approximately $2,288,552.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mostafa Kamal sold 1,154 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $92.00, for a total value of $106,168.00. Following the completion of the transaction, the chief executive officer now directly owns 1,154 shares in the company, valued at $106,168. The disclosure for this sale can be found here. Over the last three months, insiders sold 245,059 shares of company stock worth $20,965,135. 5.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its position in shares of Magellan Health by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock valued at $152,000 after acquiring an additional 120 shares during the period. Advisory Services Network LLC acquired a new position in shares of Magellan Health in the 2nd quarter valued at $165,000. Parametrica Management Ltd acquired a new position in shares of Magellan Health in the 3rd quarter valued at $244,000. HighTower Advisors LLC acquired a new position in shares of Magellan Health in the 2nd quarter valued at $210,000. Finally, Pacad Investment Ltd. increased its position in shares of Magellan Health by 34.8% in the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock valued at $226,000 after acquiring an additional 800 shares during the period. 95.06% of the stock is currently owned by hedge funds and other institutional investors.

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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).

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