Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 12,475 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $88.02, for a total transaction of $1,098,049.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Magellan Health, Inc. (NASDAQ:MGLN) traded up 0.06% during trading on Friday, reaching $86.50. 30,868 shares of the company’s stock were exchanged. Magellan Health, Inc. has a 52 week low of $49.50 and a 52 week high of $88.10. The stock has a 50-day moving average of $81.72 and a 200-day moving average of $74.33. The stock has a market capitalization of $2.05 billion, a PE ratio of 24.63 and a beta of 0.58.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data 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). Magellan Health had a net margin of 1.59% and a return on equity of 8.88%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. Magellan Health’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts anticipate that Magellan Health, Inc. will post $5.13 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. purchased a new stake in Magellan Health in the first quarter valued at approximately $136,000. Advisory Services Network LLC purchased a new stake in Magellan Health in the second quarter valued at approximately $165,000. Eqis Capital Management Inc. purchased a new stake in Magellan Health in the second quarter valued at approximately $210,000. HighTower Advisors LLC purchased a new stake in Magellan Health in the second quarter valued at approximately $210,000. Finally, Pacad Investment Ltd. lifted its stake 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 buying an additional 800 shares during the last quarter. Institutional investors own 93.54% of the company’s stock.

A number of equities analysts have issued reports on MGLN shares. KeyCorp raised shares of Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price target for the company in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Tuesday, July 18th. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Leerink Swann reissued an “outperform” rating and set a $73.00 price target (up from $68.00) on shares of Magellan Health in a research report on Sunday, June 25th. Finally, ValuEngine raised shares of Magellan Health from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $81.80.

About Magellan Health

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)

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