KBC Group NV increased its position in Magellan Health Inc (NASDAQ:MGLN) by 22.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,298 shares of the company’s stock after purchasing an additional 4,736 shares during the quarter. KBC Group NV owned 0.11% of Magellan Health worth $2,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its holdings in Magellan Health by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock valued at $152,000 after acquiring an additional 120 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Magellan Health in the second quarter valued at $165,000. HighTower Advisors LLC acquired a new stake in Magellan Health in the second quarter valued at $210,000. Pacad Investment Ltd. raised its holdings in Magellan Health by 34.8% in the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock valued at $226,000 after acquiring an additional 800 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Magellan Health by 5.1% in the second quarter. Amalgamated Bank now owns 3,265 shares of the company’s stock valued at $238,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 94.96% of the company’s stock.

Several analysts recently issued reports on the stock. BidaskClub raised shares of Magellan Health from a “buy” rating to a “strong-buy” rating in a report on Thursday. KeyCorp reaffirmed a “buy” rating and issued a $89.00 price target on shares of Magellan Health in a report on Friday, September 22nd. Raymond James Financial reaffirmed a “hold” rating on shares of Magellan Health in a report on Saturday, December 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $94.00 price target on shares of Magellan Health in a report on Friday, October 13th. Finally, Zacks Investment Research cut shares of Magellan Health from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Magellan Health has a consensus rating of “Buy” and a consensus price target of $90.50.

In other Magellan Health news, General Counsel Daniel N. Gregoire sold 14,096 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.06, for a total transaction of $1,170,813.76. Following the sale, the general counsel now directly owns 27,553 shares of the company’s stock, valued at $2,288,552.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clapper Caskie Lewis sold 59,313 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $93.99, for a total transaction of $5,574,828.87. Following the sale, the insider now directly owns 48,474 shares in the company, valued at $4,556,071.26. The disclosure for this sale can be found here. Insiders have sold 303,300 shares of company stock worth $26,534,359 over the last three months. 5.00% of the stock is owned by corporate insiders.

Shares of Magellan Health Inc (MGLN) opened at $98.50 on Monday. The firm has a market cap of $2,368.17, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.54. Magellan Health Inc has a twelve month low of $64.05 and a twelve month high of $99.25. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62.

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

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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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