TIAA CREF Investment Management LLC raised its position in Magellan Health, Inc. (NASDAQ:MGLN) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 171,610 shares of the company’s stock after buying an additional 5,284 shares during the period. TIAA CREF Investment Management LLC owned 0.72% of Magellan Health worth $12,510,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MGLN. Ameritas Investment Partners Inc. purchased a new stake in shares of Magellan Health during the 1st quarter valued at $136,000. Eqis Capital Management Inc. bought a new stake in shares of Magellan Health during the 2nd quarter worth $210,000. Pacad Investment Ltd. boosted its holdings in shares of Magellan Health by 34.8% in the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock worth $226,000 after buying an additional 800 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of Magellan Health in the 1st quarter worth about $245,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Magellan Health by 1.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,733 shares of the company’s stock worth $258,000 after buying an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded 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. KeyCorp restated a “buy” rating and set a $89.00 price objective on shares of Magellan Health in a report on Friday, September 22nd. ValuEngine raised shares of Magellan Health from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $73.00 target price (up 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 issued a buy rating to the stock. Magellan Health presently has an average rating of “Buy” and a consensus price target of $81.80.

Magellan Health, Inc. (NASDAQ MGLN) opened at 88.00 on Wednesday. The stock’s 50 day moving average price is $81.23 and its 200-day moving average price is $74.14. The stock has a market cap of $2.08 billion, a PE ratio of 25.06 and a beta of 0.58. Magellan Health, Inc. has a 12 month low of $49.50 and a 12 month high of $88.05.

Magellan Health (NASDAQ:MGLN) last issued its earnings results on Friday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.48). Magellan Health had a return on equity of 8.88% and a net margin of 1.59%. The company 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 business posted $0.58 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts anticipate that Magellan Health, Inc. will post $5.13 EPS for the current fiscal year.

In other news, SVP Jeffrey N. West sold 18,511 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $86.18, for a total value of $1,595,277.98. Following the transaction, the senior vice president now directly owns 29,395 shares in the company, valued at approximately $2,533,261.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jeffrey N. West sold 19,007 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $86.22, for a total value of $1,638,783.54. Following the completion of the transaction, the senior vice president now owns 26,962 shares in the company, valued at $2,324,663.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 289,983 shares of company stock valued at $24,150,826. 3.60% of the stock is currently owned by insiders.

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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).

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

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