Magellan Health (NASDAQ:MGLN) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

A number of other research firms have also commented on MGLN. Raymond James Financial reaffirmed a “hold” rating on shares of Magellan Health in a research note on Saturday, December 2nd. KeyCorp set a $105.00 price objective on shares of Magellan Health and gave the stock a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research lowered shares of Magellan Health from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Jefferies Group reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Magellan Health in a research note on Friday, October 13th. Finally, ValuEngine raised shares of Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $90.50.

Magellan Health (NASDAQ MGLN) traded up $0.20 during trading on Thursday, reaching $98.50. 152,479 shares of the company were exchanged, compared to its average volume of 162,903. Magellan Health has a 1 year low of $64.05 and a 1 year high of $99.25. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 0.62. The firm has a market cap of $2,363.36, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.31 and a beta of 0.54.

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

In other Magellan Health news, insider Clapper Caskie Lewis sold 59,313 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $93.99, for a total value of $5,574,828.87. Following the completion of the sale, the insider now owns 48,474 shares in the company, valued at approximately $4,556,071.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mostafa Kamal sold 2,180 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $92.00, for a total transaction of $200,560.00. Following the completion of the sale, the chief executive officer now owns 2,180 shares of the company’s stock, valued at approximately $200,560. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,370 shares of company stock valued at $26,789,169. Insiders own 3.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its position in Magellan Health by 1.3% in the 3rd quarter. California Public Employees Retirement System now owns 81,744 shares of the company’s stock worth $7,055,000 after buying an additional 1,044 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Magellan Health by 54.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 6,766 shares of the company’s stock worth $584,000 after buying an additional 2,395 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in Magellan Health in the 3rd quarter worth approximately $870,000. KBC Group NV lifted its position in Magellan Health by 22.0% in the 3rd quarter. KBC Group NV now owns 26,298 shares of the company’s stock worth $2,270,000 after buying an additional 4,736 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in Magellan Health by 7.4% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 14,500 shares of the company’s stock worth $1,251,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 94.96% of the company’s stock.

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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).

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