Public Sector Pension Investment Board cut its stake in Magellan Health Inc (NASDAQ:MGLN) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,749 shares of the company’s stock after selling 6,350 shares during the period. Public Sector Pension Investment Board owned 0.20% of Magellan Health worth $3,815,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of MGLN. PNC Financial Services Group Inc. grew its position in Magellan Health by 18.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the company’s stock valued at $114,000 after buying an additional 221 shares in the last quarter. Amalgamated Bank lifted its holdings in Magellan Health by 6.7% in the 4th quarter. Amalgamated Bank now owns 4,022 shares of the company’s stock valued at $315,000 after acquiring an additional 251 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Magellan Health by 1.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 20,880 shares of the company’s stock valued at $1,634,000 after acquiring an additional 300 shares during the last quarter. Bank of Montreal Can lifted its holdings in Magellan Health by 5.6% in the 4th quarter. Bank of Montreal Can now owns 6,623 shares of the company’s stock valued at $519,000 after acquiring an additional 350 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Magellan Health in the 3rd quarter valued at about $27,000. 99.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the stock. ValuEngine raised shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Friday, February 21st. TheStreet raised shares of Magellan Health from a “c+” rating to a “b-” rating in a report on Tuesday, February 25th. Finally, BidaskClub downgraded shares of Magellan Health from a “hold” rating to a “sell” rating in a report on Thursday, March 19th.
Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Friday, February 28th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.28. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.81 billion. Magellan Health had a net margin of 0.78% and a return on equity of 6.81%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.77) earnings per share. Equities research analysts expect that Magellan Health Inc will post 3.77 earnings per share for the current year.
About Magellan Health
Magellan Health, Inc provides healthcare management services in the United States. The company 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.
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