Magellan Health (NASDAQ:MGLN) updated its FY19 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $3.70-4.69 for the period, compared to the Thomson Reuters consensus estimate of $4.50. The company issued revenue guidance of $7.2-7.5 billion, compared to the consensus revenue estimate of $7.11 billion.Magellan Health also updated its FY 2019 guidance to $3.70-4.69 EPS.

Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Magellan Health from a buy rating to a hold rating in a research report on Friday, September 28th. ValuEngine lowered shares of Magellan Health from a sell rating to a strong sell rating in a research report on Tuesday, November 13th. Raymond James dropped their price objective on shares of Magellan Health from $85.00 to $72.00 and set a buy rating on the stock in a research report on Monday, November 12th. Leerink Swann lowered shares of Magellan Health from an outperform rating to a market perform rating and dropped their price objective for the company from $90.00 to $70.00 in a research report on Tuesday, November 13th. Finally, Zacks Investment Research raised shares of Magellan Health from a sell rating to a hold rating in a research report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $83.33.

Shares of MGLN opened at $57.63 on Friday. The stock has a market capitalization of $1.35 billion, a PE ratio of 9.79, a P/E/G ratio of 1.54 and a beta of 0.47. Magellan Health has a fifty-two week low of $51.88 and a fifty-two week high of $112.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 1.72.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.28. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. Magellan Health had a net margin of 1.49% and a return on equity of 10.93%. The company’s revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. Equities research analysts anticipate that Magellan Health will post 3.61 EPS for the current fiscal year.

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Magellan Health Company Profile

Magellan Health, Inc provides healthcare management services in the United States. It 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 for health plans, care organizations, and employers.

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Earnings History and Estimates for Magellan Health (NASDAQ:MGLN)

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