Magellan Health (MGLN) Stock Rating Upgraded by ValuEngine

Magellan Health (NASDAQ:MGLN) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research raised Magellan Health from a “hold” rating to a “strong-buy” rating and set a $112.00 target price on the stock in a report on Wednesday, December 13th. BidaskClub raised 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 issued a $94.00 target price on shares of Magellan Health in a report on Friday, October 13th. KeyCorp set a $105.00 price target on Magellan Health and gave the company a “buy” rating in a report on Friday, December 1st. Finally, Raymond James Financial reissued a “hold” rating on shares of Magellan Health in a report on Saturday, December 2nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $96.00.

Shares of Magellan Health (NASDAQ:MGLN) traded down $1.75 during trading on Friday, reaching $98.55. The company had a trading volume of 90,366 shares, compared to its average volume of 125,945. Magellan Health has a one year low of $64.05 and a one year high of $102.70. The company has a market cap of $2,369.34, a PE ratio of 26.00, a P/E/G ratio of 1.15 and a beta of 0.52. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Wednesday, November 1st. The company reported $1.64 EPS for the quarter, topping the Zacks’ 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 company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the firm earned $1.39 EPS. Magellan Health’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities research analysts anticipate that Magellan Health will post 5.19 EPS for the current fiscal year.

In other Magellan Health news, CEO Barry M. Smith sold 13,375 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $99.20, for a total transaction of $1,326,800.00. Following the sale, the chief executive officer now directly owns 42,807 shares of the company’s stock, valued at $4,246,454.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mostafa Kamal sold 2,180 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $92.00, for a total value of $200,560.00. Following the sale, the chief executive officer now directly owns 2,180 shares in the company, valued at $200,560. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,953 shares of company stock worth $10,797,505. Insiders own 3.60% of the company’s stock.

A number of large investors have recently bought and sold shares of MGLN. Ameritas Investment Partners Inc. grew its position in shares of Magellan Health by 6.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock valued at $152,000 after purchasing an additional 120 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Magellan Health during the second quarter valued at about $165,000. HighTower Advisors LLC purchased a new position in shares of Magellan Health during the second quarter valued at about $210,000. Amalgamated Bank grew its position in shares of Magellan Health by 5.1% during the second quarter. Amalgamated Bank now owns 3,265 shares of the company’s stock valued at $238,000 after purchasing an additional 159 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of Magellan Health during the third quarter valued at about $244,000. 94.95% of the stock is currently 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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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