Magellan Health (MGLN) Releases FY19 Earnings Guidance
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 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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