James Investment Research Inc. increased its stake in shares of Magellan Health Inc (NASDAQ:MGLN) by 135.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,793 shares of the company’s stock after acquiring an additional 8,515 shares during the quarter. James Investment Research Inc.’s holdings in Magellan Health were worth $842,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Bank of Montreal Can lifted its position in Magellan Health by 12.1% during the fourth quarter. Bank of Montreal Can now owns 4,960 shares of the company’s stock worth $283,000 after buying an additional 537 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Magellan Health by 2.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 20,580 shares of the company’s stock worth $1,171,000 after buying an additional 450 shares in the last quarter. Marshall Wace LLP purchased a new position in Magellan Health during the third quarter worth approximately $792,000. Morgan Stanley lifted its position in Magellan Health by 207.6% during the third quarter. Morgan Stanley now owns 215,544 shares of the company’s stock worth $15,531,000 after buying an additional 145,467 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Magellan Health by 7.4% during the third quarter. Legal & General Group Plc now owns 70,811 shares of the company’s stock worth $5,097,000 after buying an additional 4,882 shares in the last quarter. Hedge funds and other institutional investors own 98.23% of the company’s stock.

MGLN stock opened at $64.77 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.96 and a beta of 0.33. Magellan Health Inc has a 52-week low of $51.88 and a 52-week high of $112.25.

Magellan Health (NASDAQ:MGLN) last posted its earnings results on Wednesday, November 7th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.28. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Magellan Health had a return on equity of 10.93% and a net margin of 1.49%. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 earnings per share. As a group, equities research analysts anticipate that Magellan Health Inc will post 3.62 earnings per share for the current fiscal year.

A number of equities analysts recently commented on MGLN shares. ValuEngine upgraded Magellan Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 28th. TheStreet downgraded Magellan Health from a “b-” rating to a “c+” rating in a research report on Friday, November 9th. Stephens started coverage on Magellan Health in a research report on Monday, January 14th. They set an “equal weight” rating and a $68.00 price objective on the stock. Zacks Investment Research downgraded Magellan Health from a “hold” rating to a “sell” rating in a research report on Saturday, October 13th. Finally, BidaskClub upgraded Magellan Health from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Magellan Health currently has an average rating of “Hold” and a consensus target price of $79.50.

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About Magellan Health

Magellan Health, Inc provides healthcare management services in the United States. It 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 for health plans, care organizations, and employers.

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

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