Wall Street analysts predict that Magellan Health Inc (NASDAQ:MGLN) will report $1.81 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Magellan Health’s earnings, with the highest sales estimate coming in at $1.84 billion and the lowest estimate coming in at $1.79 billion. Magellan Health reported sales of $1.31 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 38.2%. The business is expected to report its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Magellan Health will report full-year sales of $1.81 billion for the current fiscal year, with estimates ranging from $7.61 billion to $7.66 billion. For the next year, analysts forecast that the company will report sales of $8.14 billion per share, with estimates ranging from $8.06 billion to $8.22 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Magellan Health.
Magellan Health (NASDAQ:MGLN) last announced its earnings results on Tuesday, February 27th. The company reported $2.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.26. Magellan Health had a net margin of 1.89% and a return on equity of 10.86%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm earned $1.80 earnings per share. The business’s revenue for the quarter was up 34.1% on a year-over-year basis.
Magellan Health (NASDAQ:MGLN) opened at $103.50 on Wednesday. Magellan Health has a fifty-two week low of $64.05 and a fifty-two week high of $109.80. The company has a market cap of $2,591.74, a P/E ratio of 20.37, a PEG ratio of 1.25 and a beta of 0.49. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.58.
In related news, CEO Mostafa Kamal sold 15,428 shares of Magellan Health stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $99.04, for a total value of $1,527,989.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Barry M. Smith sold 13,367 shares of Magellan Health stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $95.94, for a total transaction of $1,282,429.98. Following the completion of the transaction, the chief executive officer now directly owns 42,799 shares in the company, valued at $4,106,136.06. The disclosure for this sale can be found here. Insiders sold 95,863 shares of company stock worth $9,432,287 over the last three months. 5.00% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in MGLN. Gotham Asset Management LLC bought a new stake in shares of Magellan Health during the fourth quarter worth $201,000. Shelton Capital Management bought a new stake in shares of Magellan Health during the fourth quarter worth $205,000. Xact Kapitalforvaltning AB bought a new stake in shares of Magellan Health during the fourth quarter worth $275,000. CIBC Asset Management Inc bought a new stake in shares of Magellan Health during the fourth quarter worth $291,000. Finally, Meadow Creek Investment Management LLC grew its stake in shares of Magellan Health by 20.8% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the company’s stock worth $330,000 after buying an additional 588 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.
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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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