Magellan Health (NASDAQ:MGLN)‘s stock had its “hold” rating reaffirmed by equities research analysts at Raymond James Financial in a report released on Saturday.

Several other equities research analysts have also recently issued reports on MGLN. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. KeyCorp restated a “buy” rating and issued a $89.00 price target on shares of Magellan Health in a report on Friday, September 22nd. Zacks Investment Research lowered shares of Magellan Health from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, Jefferies Group reiterated a “buy” rating and set a $94.00 price objective on shares of Magellan Health in a research note on Friday, October 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $90.50.

Magellan Health (NASDAQ:MGLN) opened at $89.30 on Friday. Magellan Health has a 52 week low of $64.05 and a 52 week high of $92.00. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $2,146.95, a PE ratio of 20.34, a P/E/G ratio of 1.15 and a beta of 0.55.

Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.24. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Magellan Health had a net margin of 1.68% and a return on equity of 9.20%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.39 EPS. analysts predict that Magellan Health will post 5.19 earnings per share for the current year.

In related news, General Counsel Daniel N. Gregoire sold 9,369 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $89.20, for a total transaction of $835,714.80. Following the sale, the general counsel now directly owns 22,826 shares of the company’s stock, valued at $2,036,079.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mostafa Kamal sold 2,190 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $81.07, for a total transaction of $177,543.30. Following the sale, the chief executive officer now directly owns 157 shares in the company, valued at $12,727.99. The disclosure for this sale can be found here. Insiders have sold a total of 245,059 shares of company stock worth $20,965,135 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its position in shares of Magellan Health by 147.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,679 shares of the company’s stock valued at $276,000 after buying an additional 2,195 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Magellan Health in the fourth quarter valued at about $771,000. Alpha Windward LLC raised its position in shares of Magellan Health by 7.8% in the second quarter. Alpha Windward LLC now owns 6,600 shares of the company’s stock valued at $481,000 after buying an additional 480 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Magellan Health by 411.1% in the fourth quarter. Teachers Advisors LLC now owns 257,154 shares of the company’s stock valued at $19,351,000 after buying an additional 206,838 shares during the last quarter. Finally, Numeric Investors LLC raised its position in shares of Magellan Health by 78.3% in the fourth quarter. Numeric Investors LLC now owns 66,668 shares of the company’s stock valued at $4,111,000 after buying an additional 29,268 shares during the last quarter. 95.06% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/12/03/magellan-health-mgln-stock-rating-reaffirmed-by-raymond-james-financial.html.

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).

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.