Brokerages expect Magellan Health Inc (NASDAQ:MGLN) to report earnings per share of $1.41 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Magellan Health’s earnings, with the lowest EPS estimate coming in at $1.38 and the highest estimate coming in at $1.45. Magellan Health reported earnings per share of $2.55 during the same quarter last year, which indicates a negative year-over-year growth rate of 44.7%. The company is expected to issue its next earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that Magellan Health will report full year earnings of $4.57 per share for the current fiscal year, with EPS estimates ranging from $4.56 to $4.60. For the next financial year, analysts forecast that the business will post earnings of $4.50 per share, with EPS estimates ranging from $4.28 to $4.89. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Magellan Health.
Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.17 by $0.28. Magellan Health had a net margin of 1.49% and a return on equity of 10.93%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. Magellan Health’s quarterly revenue was up 30.6% on a year-over-year basis.
Several equities research analysts recently commented on the stock. BidaskClub lowered shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 31st. Zacks Investment Research lowered shares of Magellan Health from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. Raymond James dropped their price objective on shares of Magellan Health from $85.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, November 12th. TheStreet lowered shares of Magellan Health from a “b-” rating to a “c+” rating in a research note on Friday, November 9th. Finally, Leerink Swann lowered shares of Magellan Health from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $90.00 to $70.00 in a research note on Tuesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.33.
NASDAQ:MGLN traded up $2.14 during mid-day trading on Friday, hitting $57.63. 999,455 shares of the company’s stock were exchanged, compared to its average volume of 382,588. Magellan Health has a one year low of $51.88 and a one year high of $112.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 1.67. The firm has a market capitalization of $1.35 billion, a P/E ratio of 10.48, a PEG ratio of 1.54 and a beta of 0.47.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Magellan Health by 2.6% in the third quarter. BlackRock Inc. now owns 3,564,373 shares of the company’s stock worth $256,812,000 after buying an additional 90,525 shares in the last quarter. FMR LLC lifted its stake in shares of Magellan Health by 0.8% in the third quarter. FMR LLC now owns 2,198,312 shares of the company’s stock worth $158,388,000 after buying an additional 18,011 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Magellan Health by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,063,734 shares of the company’s stock worth $148,692,000 after buying an additional 12,650 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Magellan Health by 0.8% in the third quarter. Renaissance Technologies LLC now owns 1,000,500 shares of the company’s stock worth $72,086,000 after buying an additional 8,100 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Magellan Health by 1.2% in the third quarter. Victory Capital Management Inc. now owns 566,012 shares of the company’s stock worth $40,781,000 after buying an additional 6,644 shares in the last quarter. Hedge funds and other institutional investors own 98.77% of the company’s stock.
Magellan Health Company Profile
Magellan Health, Inc provides healthcare management services in the United States. It operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine for health plans, care organizations, and employers.
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