Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Sells $367,820.12 in Stock

Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 4,559 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $80.68, for a total transaction of $367,820.12. Following the completion of the sale, the general counsel now directly owns 18,016 shares of the company’s stock, valued at $1,453,530.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Magellan Health, Inc. (NASDAQ:MGLN) opened at 78.65 on Thursday. Magellan Health, Inc. has a 12 month low of $49.50 and a 12 month high of $84.71. The company’s 50-day moving average is $76.40 and its 200 day moving average is $72.15. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 22.39 and a beta of 0.59.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by $0.48. Magellan Health had a return on equity of 8.88% and a net margin of 1.59%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts forecast that Magellan Health, Inc. will post $5.13 earnings per share for the current fiscal year.

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A number of large investors have recently bought and sold shares of MGLN. BlackRock Inc. boosted its stake in Magellan Health by 53,778.2% in the first quarter. BlackRock Inc. now owns 3,012,867 shares of the company’s stock worth $208,038,000 after buying an additional 3,007,275 shares during the period. LSV Asset Management acquired a new stake in Magellan Health during the second quarter worth $44,282,000. Hood River Capital Management LLC acquired a new stake in Magellan Health during the second quarter worth $25,387,000. Norges Bank purchased a new position in shares of Magellan Health during the fourth quarter worth approximately $16,634,000. Finally, Teachers Advisors LLC raised its position in shares of Magellan Health by 411.1% in the fourth quarter. Teachers Advisors LLC now owns 257,154 shares of the company’s stock worth $19,351,000 after buying an additional 206,838 shares in the last quarter. Institutional investors and hedge funds own 92.28% of the company’s stock.

A number of research firms have recently issued reports on MGLN. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. KeyCorp raised shares of Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price target for the company in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Tuesday, July 18th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $73.00 price objective (up previously from $68.00) on shares of Magellan Health in a research report on Sunday, June 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $82.20.

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).

Insider Buying and Selling by Quarter for Magellan Health (NASDAQ:MGLN)

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