KeyCorp set a $105.00 price objective on Magellan Health (NASDAQ:MGLN) in a research report sent to investors on Friday morning. The firm currently has a buy rating on the stock.

MGLN has been the topic of several other research reports. ValuEngine upgraded Magellan Health from a hold rating to a buy rating in a research note on Friday, September 1st. Zacks Investment Research lowered Magellan Health from a buy rating to a hold rating in a research note on Wednesday, October 4th. Jefferies Group restated a buy rating and set a $94.00 price target on shares of Magellan Health in a research note on Friday, October 13th. Finally, BidaskClub upgraded Magellan Health from a sell rating to a hold rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Magellan Health currently has an average rating of Buy and an average target price of $90.50.

Shares of Magellan Health (NASDAQ MGLN) opened at $95.25 on Friday. The firm has a market capitalization of $2,250.00, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.28 and a quick ratio of 2.21. Magellan Health has a 52 week low of $64.05 and a 52 week high of $95.55.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $1.64 EPS for the quarter, beating the 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 return on equity of 9.20% and a net margin of 1.68%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 earnings per share. sell-side analysts expect that Magellan Health will post 5.19 EPS for the current year.

In related news, CEO Mostafa Kamal sold 2,190 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $81.07, for a total transaction of $177,543.30. Following the sale, the chief executive officer now owns 157 shares of the company’s stock, valued at $12,727.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Daniel N. Gregoire sold 2,400 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $83.00, for a total value of $199,200.00. Following the sale, the general counsel now directly owns 15,857 shares in the company, valued at approximately $1,316,131. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,334 shares of company stock worth $21,702,272. Insiders own 5.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of MGLN. LSV Asset Management bought a new stake in Magellan Health during the second quarter valued at about $44,282,000. Hood River Capital Management LLC bought a new stake in Magellan Health during the second quarter valued at about $25,387,000. Wells Fargo & Company MN boosted its position in Magellan Health by 308.0% during the third quarter. Wells Fargo & Company MN now owns 137,829 shares of the company’s stock valued at $11,894,000 after purchasing an additional 104,045 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in Magellan Health by 81.7% during the second quarter. Thrivent Financial For Lutherans now owns 228,546 shares of the company’s stock valued at $16,661,000 after purchasing an additional 102,736 shares in the last quarter. Finally, Hillcrest Asset Management LLC bought a new stake in Magellan Health during the third quarter valued at about $8,822,000. 94.96% of the stock is currently owned by institutional investors.

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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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