Shares of Magellan Health, Inc. (NASDAQ:MGLN) have been given an average rating of “Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $82.20.
A number of research firms have weighed in on MGLN. Leerink Swann reissued an “outperform” rating and set a $73.00 target price (up previously from $68.00) on shares of Magellan Health in a research report on Sunday, June 25th. Zacks Investment Research raised shares of Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Tuesday, July 18th. BidaskClub downgraded shares of Magellan Health from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, KeyCorp upgraded shares of Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price objective on the stock in a report on Thursday, July 13th.
COPYRIGHT VIOLATION WARNING: This news story was first reported by BBNS and is owned by of BBNS. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://baseballnewssource.com/markets/magellan-health-inc-mgln-receives-82-20-consensus-pt-from-analysts/1554380.html.
Magellan Health (MGLN) traded up 0.06% on Wednesday, reaching $78.50. The company had a trading volume of 51,118 shares. The firm has a 50-day moving average of $77.25 and a 200-day moving average of $72.30. The stock has a market capitalization of $1.86 billion, a P/E ratio of 22.35 and a beta of 0.59. Magellan Health has a 12 month low of $49.50 and a 12 month high of $84.71.
Magellan Health (NASDAQ:MGLN) last released its earnings results on Friday, July 28th. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.48. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Magellan Health had a return on equity of 8.88% and a net margin of 1.59%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. On average, equities research analysts expect that Magellan Health will post $5.13 earnings per share for the current fiscal year.
In related news, General Counsel Daniel N. Gregoire sold 14,114 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $80.11, for a total value of $1,130,672.54. Following the sale, the general counsel now owns 27,573 shares of the company’s stock, valued at $2,208,873.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jeffrey N. West sold 28,514 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $80.07, for a total transaction of $2,283,115.98. Following the completion of the sale, the senior vice president now directly owns 17,085 shares in the company, valued at approximately $1,367,995.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,943 shares of company stock worth $7,846,757. Insiders own 3.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MGLN. Suntrust Banks Inc. boosted its stake in Magellan Health by 0.7% in the first quarter. Suntrust Banks Inc. now owns 3,934 shares of the company’s stock worth $271,000 after buying an additional 27 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Magellan Health by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,733 shares of the company’s stock worth $258,000 after buying an additional 54 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Magellan Health by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 20,210 shares of the company’s stock worth $1,473,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Magellan Health by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the company’s stock worth $707,000 after buying an additional 100 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Magellan Health by 0.8% in the second quarter. Arizona State Retirement System now owns 12,412 shares of the company’s stock worth $905,000 after buying an additional 100 shares during the last quarter. 92.28% of the stock is currently owned by institutional investors and hedge funds.
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).
Receive News & Ratings for Magellan Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health Inc. and related companies with our FREE daily email newsletter.