Magellan Health Inc (NASDAQ:MGLN) has received a consensus recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $90.67.

Several research firms have recently commented on MGLN. Raymond James Financial reaffirmed a “hold” rating on shares of Magellan Health in a research report on Saturday. KeyCorp set a $105.00 price target on shares of Magellan Health and gave the company a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of Magellan Health from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a research report on Friday, September 1st.

Magellan Health (MGLN) traded up $0.70 during mid-day trading on Friday, hitting $96.40. 156,097 shares of the stock traded hands, compared to its average volume of 143,714. The stock has a market cap of $2,290.03, a price-to-earnings ratio of 21.70, a PEG ratio of 1.22 and a beta of 0.54. 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 has a 1 year low of $64.05 and a 1 year high of $96.85.

Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.24. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. Magellan Health had a net margin of 1.68% and a return on equity of 9.20%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.39 EPS. sell-side analysts forecast that Magellan Health will post 5.19 EPS for the current fiscal year.

In other Magellan Health news, insider Clapper Caskie Lewis sold 59,313 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $93.99, for a total value of $5,574,828.87. Following the sale, the insider now owns 48,474 shares of the company’s stock, valued at $4,556,071.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mostafa Kamal sold 2,190 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $81.07, for a total value of $177,543.30. Following the completion of the sale, the chief executive officer now directly owns 157 shares in the company, valued at approximately $12,727.99. The disclosure for this sale can be found here. In the last three months, insiders sold 314,827 shares of company stock worth $27,477,661. 5.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MGLN. Ameritas Investment Partners Inc. grew its stake in shares of Magellan Health by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock worth $152,000 after acquiring an additional 120 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Magellan Health in the second quarter worth $165,000. HighTower Advisors LLC acquired a new position in shares of Magellan Health in the second quarter worth $210,000. Pacad Investment Ltd. grew its stake in shares of Magellan Health by 34.8% in the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock worth $226,000 after acquiring an additional 800 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Magellan Health by 5.1% in the second quarter. Amalgamated Bank now owns 3,265 shares of the company’s stock worth $238,000 after acquiring an additional 159 shares in the last quarter. 94.96% of the stock is currently owned by institutional investors.

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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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