Magellan Health (MGLN) Now Covered by Stephens

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Equities researchers at Stephens began coverage on shares of Magellan Health (NASDAQ:MGLN) in a research note issued on Monday, The Fly reports. The brokerage set an “equal weight” rating on the stock.

Several other research analysts also recently commented on the company. BidaskClub upgraded Magellan Health from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. ValuEngine upgraded Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Zacks Investment Research upgraded Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. TheStreet downgraded Magellan Health from a “b-” rating to a “c+” rating in a research note on Friday, November 9th. Finally, Leerink Swann downgraded Magellan Health from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $70.00 in a research note on Tuesday, November 13th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $83.33.

Shares of NASDAQ MGLN opened at $60.87 on Monday. Magellan Health has a 52 week low of $51.88 and a 52 week high of $112.25. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.84 and a beta of 0.33.

Magellan Health (NASDAQ:MGLN) last issued its earnings results 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 return on equity of 10.93% and a net margin of 1.49%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company earned $1.64 EPS. The firm’s revenue was up 30.6% compared to the same quarter last year. On average, equities analysts forecast that Magellan Health will post 3.61 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in shares of Magellan Health in the 3rd quarter valued at about $220,000. Jefferies Group LLC purchased a new stake in shares of Magellan Health in the 3rd quarter valued at about $243,000. Commonwealth Bank of Australia purchased a new stake in shares of Magellan Health in the 3rd quarter valued at about $244,000. Verition Fund Management LLC purchased a new stake in shares of Magellan Health in the 2nd quarter valued at about $248,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Magellan Health by 86.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,449 shares of the company’s stock valued at $249,000 after acquiring an additional 1,601 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

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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