Magellan Health, Inc. (NASDAQ:MGLN) CEO Mostafa Kamal sold 4,848 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $85.76, for a total value of $415,764.48. Following the completion of the sale, the chief executive officer now directly owns 4,848 shares of the company’s stock, valued at $415,764.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Mostafa Kamal also recently made the following trade(s):

  • On Wednesday, September 27th, Mostafa Kamal sold 19,126 shares of Magellan Health stock. The stock was sold at an average price of $85.33, for a total value of $1,632,021.58.
  • On Friday, September 15th, Mostafa Kamal sold 2,961 shares of Magellan Health stock. The stock was sold at an average price of $84.00, for a total value of $248,724.00.
  • On Wednesday, September 13th, Mostafa Kamal sold 604 shares of Magellan Health stock. The shares were sold at an average price of $83.00, for a total transaction of $50,132.00.
  • On Monday, September 11th, Mostafa Kamal sold 670 shares of Magellan Health stock. The shares were sold at an average price of $83.00, for a total transaction of $55,610.00.
  • On Friday, September 8th, Mostafa Kamal sold 6,267 shares of Magellan Health stock. The shares were sold at an average price of $81.53, for a total transaction of $510,948.51.
  • On Thursday, September 7th, Mostafa Kamal sold 2,190 shares of Magellan Health stock. The shares were sold at an average price of $81.07, for a total transaction of $177,543.30.

Magellan Health, Inc. (NASDAQ MGLN) opened at 86.30 on Monday. The stock has a 50 day moving average price of $78.85 and a 200 day moving average price of $72.93. Magellan Health, Inc. has a 52 week low of $49.50 and a 52 week high of $86.72. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 24.57 and a beta of 0.57.

Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.48). The business 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%. Magellan Health’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 EPS. Equities research analysts expect that Magellan Health, Inc. will post $5.13 EPS for the current year.

WARNING: This report was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://www.watchlistnews.com/insider-selling-magellan-health-inc-mgln-ceo-sells-415764-48-in-stock/1602490.html.

MGLN has been the subject of several recent analyst reports. KeyCorp restated a “buy” rating and set a $89.00 price objective on shares of Magellan Health in a research report on Friday, September 22nd. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Tuesday, July 18th. Finally, Leerink Swann reissued an “outperform” rating and issued a $73.00 price target (up previously from $68.00) on shares of Magellan Health in a research note on Sunday, June 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Magellan Health currently has an average rating of “Buy” and a consensus target price of $81.80.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alpha Windward LLC boosted its stake in Magellan Health by 7.8% in the 2nd quarter. Alpha Windward LLC now owns 6,600 shares of the company’s stock worth $481,000 after buying an additional 480 shares during the last quarter. Geode Capital Management LLC grew its holdings in Magellan Health by 6.1% in the 1st quarter. Geode Capital Management LLC now owns 305,624 shares of the company’s stock valued at $21,103,000 after buying an additional 17,460 shares during the period. Great West Life Assurance Co. Can grew its holdings in Magellan Health by 3.4% in 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 buying an additional 1,100 shares during the period. Legal & General Group Plc grew its holdings in Magellan Health by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 68,542 shares of the company’s stock valued at $4,998,000 after buying an additional 2,962 shares during the period. Finally, State of Tennessee Treasury Department grew its holdings in Magellan Health by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 21,809 shares of the company’s stock valued at $1,506,000 after buying an additional 3,291 shares during the period. Hedge funds and other institutional investors own 93.54% of the company’s stock.

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)

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 Analyst Ratings Network's FREE daily email newsletter.