Magellan Health Inc (MGLN) Receives Consensus Rating of “Buy” from Analysts

Magellan Health Inc (NASDAQ:MGLN) has earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $96.00.

MGLN has been the topic of a number of analyst reports. BidaskClub raised shares of Magellan Health from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Jefferies Group reaffirmed a “buy” rating and set a $94.00 price objective on shares of Magellan Health in a report on Friday, October 13th. Zacks Investment Research raised shares of Magellan Health from a “hold” rating to a “strong-buy” rating and set a $112.00 price objective on the stock in a report on Wednesday, December 13th. KeyCorp set a $105.00 price objective on shares of Magellan Health and gave the stock a “buy” rating in a report on Friday, December 1st. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Magellan Health in a report on Saturday, December 2nd.

Magellan Health (MGLN) traded up $2.65 on Friday, reaching $100.80. 113,050 shares of the company’s stock were exchanged, compared to its average volume of 91,935. 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 stock has a market cap of $2,359.75, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 1.15 and a beta of 0.53. Magellan Health has a 1 year low of $64.05 and a 1 year high of $100.85.

Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.24. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. Magellan Health had a net margin of 1.68% and a return on equity of 9.20%. The business’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 firm earned $1.39 EPS. sell-side analysts forecast that Magellan Health will post 5.19 EPS for the current fiscal year.

In related news, insider Clapper Caskie Lewis sold 59,313 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 48,474 shares of the company’s stock, valued at approximately $4,556,071.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Daniel N. Gregoire sold 9,369 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $89.20, for a total transaction of $835,714.80. Following the completion of the transaction, the general counsel now directly owns 22,826 shares in the company, valued at $2,036,079.20. The disclosure for this sale can be found here. Insiders sold a total of 111,101 shares of company stock worth $10,412,588 over the last three months. 3.60% of the stock is owned by insiders.

Several large investors have recently modified their holdings of MGLN. Swiss National Bank boosted its holdings in shares of Magellan Health by 8.0% in the 2nd quarter. Swiss National Bank now owns 39,300 shares of the company’s stock worth $2,865,000 after buying an additional 2,900 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Magellan Health by 1.8% in the 2nd quarter. Wells Fargo & Company MN now owns 33,784 shares of the company’s stock worth $2,462,000 after buying an additional 597 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Magellan Health by 5.3% in the 2nd quarter. Teachers Advisors LLC now owns 281,201 shares of the company’s stock worth $20,500,000 after buying an additional 14,119 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Magellan Health by 3.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 171,610 shares of the company’s stock worth $12,510,000 after buying an additional 5,284 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of Magellan Health by 5.1% in the 2nd quarter. Amalgamated Bank now owns 3,265 shares of the company’s stock worth $238,000 after buying an additional 159 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

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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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