Magellan Health, Inc. (MGLN) General Counsel Daniel N. Gregoire Sells 9,369 Shares of Stock
Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 9,369 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $89.20, for a total value of $835,714.80. Following the completion of the transaction, the general counsel now directly owns 22,826 shares in the company, valued at $2,036,079.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Magellan Health, Inc. (NASDAQ MGLN) traded up $0.65 during midday trading on Friday, reaching $85.40. The company had a trading volume of 291,353 shares, compared to its average volume of 134,005. Magellan Health, Inc. has a 52-week low of $49.90 and a 52-week high of $92.00. The firm has a market cap of $2,050.00, a P/E ratio of 19.31, a P/E/G ratio of 1.00 and a beta of 0.55. The company has a current ratio of 2.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.62.
Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.24. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm earned $1.39 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. equities analysts predict that Magellan Health, Inc. will post 4.69 earnings per share for the current fiscal year.
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Several analysts recently issued reports on the company. KeyCorp reiterated a “buy” rating and issued a $89.00 price target on shares of Magellan Health in a report on Friday, September 22nd. ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Tuesday, July 18th. BidaskClub downgraded Magellan Health from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 price target on shares of Magellan Health in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Magellan Health has an average rating of “Buy” and a consensus target price of $83.00.
Institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its stake in shares of Magellan Health by 6.1% during 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 shares of Magellan Health during the second quarter valued at about $165,000. Eqis Capital Management Inc. acquired a new stake in shares of Magellan Health during the second quarter valued at about $210,000. HighTower Advisors LLC acquired a new stake in shares of Magellan Health during the second quarter valued at about $210,000. Finally, Pacad Investment Ltd. grew its stake in shares of Magellan Health by 34.8% during 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. Institutional investors own 93.25% of the company’s stock.
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).
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