$1.62 Billion in Sales Expected for Magellan Health Inc (MGLN) This Quarter

Equities research analysts expect Magellan Health Inc (NASDAQ:MGLN) to report $1.62 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Magellan Health’s earnings. The highest sales estimate is $1.63 billion and the lowest is $1.61 billion. Magellan Health posted sales of $1.26 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The company is expected to report its next quarterly earnings results on Friday, February 23rd.

On average, analysts expect that Magellan Health will report full-year sales of $1.62 billion for the current year, with estimates ranging from $5.75 billion to $5.78 billion. For the next financial year, analysts anticipate that the company will post sales of $7.60 billion per share, with estimates ranging from $7.52 billion to $7.65 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Magellan Health.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Wednesday, November 1st. The company reported $1.64 earnings per share 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 analyst estimates of $1.49 billion. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 EPS.

MGLN has been the topic of several recent research reports. ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub lowered Magellan Health from a “strong-buy” rating to a “buy” rating in a research report 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 objective on the stock in a research report on Wednesday, December 13th. Raymond James Financial reiterated a “hold” rating on shares of Magellan Health in a research report on Saturday, December 2nd. Finally, KeyCorp set a $105.00 price objective on Magellan Health and gave the company a “buy” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $96.00.

In related news, General Counsel Daniel N. Gregoire sold 9,369 shares of the 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 sale, the general counsel now directly owns 22,826 shares in the company, valued at approximately $2,036,079.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mostafa Kamal sold 1,154 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $92.00, for a total value of $106,168.00. Following the sale, the chief executive officer now owns 1,154 shares of the company’s stock, valued at $106,168. The disclosure for this sale can be found here. Insiders have sold a total of 111,101 shares of company stock worth $10,412,588 over the last quarter. Corporate insiders own 5.00% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Suntrust Banks Inc. lifted its holdings in Magellan Health by 2.1% in the 2nd quarter. Suntrust Banks Inc. now owns 4,018 shares of the company’s stock worth $292,000 after buying an additional 84 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Magellan Health by 6.1% in the 2nd 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 period. Amalgamated Bank lifted its holdings in 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 period. The Manufacturers Life Insurance Company lifted its holdings in Magellan Health by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,274 shares of the company’s stock worth $1,331,000 after buying an additional 223 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Magellan Health by 0.6% in the 2nd quarter. California Public Employees Retirement System now owns 80,700 shares of the company’s stock worth $5,883,000 after buying an additional 500 shares during the period. Institutional investors own 94.79% of the company’s stock.

Magellan Health (NASDAQ:MGLN) opened at $100.80 on Monday. The firm has a market capitalization of $2,423.46, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.18 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. Magellan Health has a one year low of $64.05 and a one year high of $100.85.

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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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