Dimensional Fund Advisors LP lessened its stake in shares of Magellan Health Inc (NASDAQ:MGLN) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,984,108 shares of the company’s stock after selling 7,243 shares during the period. Dimensional Fund Advisors LP owned 8.25% of Magellan Health worth $171,228,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Aperio Group LLC boosted its holdings in shares of Magellan Health by 14.4% during the 2nd quarter. Aperio Group LLC now owns 12,901 shares of the company’s stock valued at $940,000 after acquiring an additional 1,627 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Magellan Health by 3.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 33,815 shares of the company’s stock valued at $2,463,000 after acquiring an additional 1,100 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of Magellan Health by 1.3% during the 2nd quarter. Texas Permanent School Fund now owns 17,316 shares of the company’s stock valued at $1,262,000 after acquiring an additional 230 shares in the last quarter. Arizona State Retirement System lifted its holdings in Magellan Health by 0.8% during the 2nd 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 period. Finally, First Trust Advisors LP lifted its holdings in Magellan Health by 4.3% during the 2nd quarter. First Trust Advisors LP now owns 29,026 shares of the company’s stock worth $2,116,000 after buying an additional 1,198 shares during the period. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Mostafa Kamal sold 2,180 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $92.00, for a total value of $200,560.00. Following the transaction, the chief executive officer now owns 2,180 shares in the company, valued at approximately $200,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Clapper Caskie Lewis sold 59,313 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $93.99, for a total value of $5,574,828.87. Following the completion of the transaction, the insider now owns 48,474 shares in the company, valued at approximately $4,556,071.26. The disclosure for this sale can be found here. Insiders have sold a total of 288,600 shares of company stock valued at $25,313,413 in the last quarter. Company insiders own 5.00% of the company’s stock.

Shares of Magellan Health Inc (NASDAQ MGLN) opened at $96.90 on Wednesday. Magellan Health Inc has a 12-month low of $64.05 and a 12-month high of $99.25. The company has a market capitalization of $2,340.52, a PE ratio of 22.17, a P/E/G ratio of 1.29 and a beta of 0.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.28 and a quick ratio of 2.21.

Magellan Health (NASDAQ:MGLN) last issued its earnings results on Wednesday, November 1st. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.24. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company posted $1.39 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. equities analysts anticipate that Magellan Health Inc will post 5.19 earnings per share for the current fiscal year.

MGLN has been the topic of several recent research reports. KeyCorp reaffirmed a “buy” rating and set a $89.00 target price on shares of Magellan Health in a report on Friday, September 22nd. ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group reaffirmed a “buy” rating and set a $94.00 target price on shares of Magellan Health in a report on Friday, October 13th. Zacks Investment Research lowered Magellan Health from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Raymond James Financial reissued a “hold” rating on shares of Magellan Health in a research report on Saturday, December 2nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Magellan Health has an average rating of “Buy” and an average target price of $96.00.

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Magellan Health 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).

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Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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