Equities research analysts forecast that Magellan Health Inc (NASDAQ:MGLN) will report earnings of $2.30 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Magellan Health’s earnings. The highest EPS estimate is $2.33 and the lowest is $2.25. Magellan Health posted earnings of $1.80 per share during the same quarter last year, which would suggest a positive year over year growth rate of 27.8%. The firm is expected to announce its next quarterly earnings report on Friday, February 23rd.

According to Zacks, analysts expect that Magellan Health will report full-year earnings of $5.62 per share for the current year, with EPS estimates ranging from $5.57 to $5.65. For the next financial year, analysts anticipate that the company will post earnings of $6.01 per share, with EPS estimates ranging from $5.97 to $6.08. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Magellan Health.

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

Several equities research analysts recently commented on the company. ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a research note on Sunday. BidaskClub lowered Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 19th. Zacks Investment Research upgraded Magellan Health from a “hold” rating to a “strong-buy” rating and set a $112.00 price target on the stock in a report on Wednesday, December 13th. Raymond James Financial restated a “hold” rating on shares of Magellan Health in a research note on Saturday, December 2nd. Finally, KeyCorp set a $105.00 price target on Magellan Health and gave the stock a “buy” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $96.00.

Magellan Health (NASDAQ:MGLN) traded up $0.35 during midday trading on Wednesday, reaching $96.90. The company had a trading volume of 190,800 shares, compared to its average volume of 138,550. Magellan Health has a fifty-two week low of $64.05 and a fifty-two week high of $99.80. The firm has a market capitalization of $2,321.28, a PE ratio of 25.57, a P/E/G ratio of 1.13 and a beta of 0.53. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 0.62.

In other news, CEO Mostafa Kamal sold 1,154 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $92.00, for a total transaction of $106,168.00. Following the sale, the chief executive officer now directly owns 1,154 shares of the company’s stock, valued at $106,168. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Daniel N. Gregoire sold 8,275 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $89.08, for a total transaction of $737,137.00. Following the sale, the general counsel now directly owns 16,690 shares in the company, valued at $1,486,745.20. The disclosure for this sale can be found here. Insiders have sold 80,291 shares of company stock valued at $7,454,409 in the last ninety days. Insiders own 5.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its position in Magellan Health by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock worth $152,000 after buying an additional 120 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Magellan Health in the 2nd quarter valued at about $165,000. HighTower Advisors LLC bought a new position in Magellan Health during the 2nd quarter valued at approximately $210,000. Pacad Investment Ltd. raised its position in Magellan Health by 34.8% during the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock valued at $226,000 after purchasing an additional 800 shares during the last quarter. Finally, Amalgamated Bank raised its position in Magellan Health by 5.1% during the 2nd quarter. Amalgamated Bank now owns 3,265 shares of the company’s stock valued at $238,000 after purchasing an additional 159 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

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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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