Strs Ohio cut its holdings in shares of Magellan Health Inc (NASDAQ:MGLN) by 10.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,500 shares of the company’s stock after selling 1,500 shares during the period. Strs Ohio’s holdings in Magellan Health were worth $1,002,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Magellan Health by 1.1% during the second quarter. Arizona State Retirement System now owns 37,297 shares of the company’s stock worth $2,769,000 after buying an additional 389 shares during the period. FNY Investment Advisers LLC boosted its position in shares of Magellan Health by 747.0% during the second quarter. FNY Investment Advisers LLC now owns 6,776 shares of the company’s stock worth $502,000 after buying an additional 5,976 shares during the period. Waratah Capital Advisors Ltd. acquired a new position in shares of Magellan Health during the second quarter worth approximately $496,000. Destination Wealth Management acquired a new position in shares of Magellan Health during the second quarter worth approximately $45,000. Finally, CWM Advisors LLC acquired a new position in shares of Magellan Health during the second quarter worth approximately $236,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

MGLN has been the subject of several analyst reports. BidaskClub upgraded Magellan Health from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Magellan Health currently has a consensus rating of “Hold” and a consensus target price of $74.80.

Shares of NASDAQ:MGLN opened at $68.99 on Wednesday. Magellan Health Inc has a 12 month low of $51.88 and a 12 month high of $77.15. The company has a market capitalization of $1.68 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 0.73 and a beta of 0.56. The business’s 50 day moving average price is $70.05. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.66 and a current ratio of 1.71.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Tuesday, July 30th. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Magellan Health had a return on equity of 3.68% and a net margin of 0.18%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the firm earned $0.92 EPS. Magellan Health’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts predict that Magellan Health Inc will post 3.96 earnings per share for the current fiscal year.

Magellan Health Company Profile

Magellan Health, Inc provides healthcare management services in the United States. The company operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine.

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

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