Smith Graham & Co. Investment Advisors LP raised its stake in shares of Magellan Health Inc (NASDAQ:MGLN) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 169,211 shares of the company’s stock after purchasing an additional 11,600 shares during the quarter. Magellan Health accounts for about 1.2% of Smith Graham & Co. Investment Advisors LP’s holdings, making the stock its 8th biggest holding. Smith Graham & Co. Investment Advisors LP’s holdings in Magellan Health were worth $11,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in Magellan Health during the first quarter valued at approximately $52,000. Tibra Equities Europe Ltd purchased a new position in Magellan Health during the first quarter worth $699,000. Deutsche Bank AG increased its position in Magellan Health by 46.8% during the fourth quarter. Deutsche Bank AG now owns 106,973 shares of the company’s stock worth $6,083,000 after buying an additional 34,084 shares in the last quarter. Norges Bank purchased a new position in Magellan Health during the fourth quarter worth $23,196,000. Finally, BW Gestao de Investimentos Ltda. increased its position in Magellan Health by 4.8% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 7,426 shares of the company’s stock worth $422,000 after buying an additional 337 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Several brokerages recently issued reports on MGLN. BidaskClub raised shares of Magellan Health from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. Stephens began coverage on shares of Magellan Health in a research note on Monday, January 14th. They issued an “equal weight” rating and a $68.00 target price for the company. ValuEngine lowered shares of Magellan Health from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. Zacks Investment Research upgraded shares of Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Finally, Bank of America started coverage on shares of Magellan Health in a research report on Friday, February 22nd. They issued a “buy” rating and a $84.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $74.80.

Magellan Health stock traded up $1.84 during mid-day trading on Tuesday, hitting $66.78. 3,726 shares of the company traded hands, compared to its average volume of 310,333. Magellan Health Inc has a one year low of $51.88 and a one year high of $112.14. The firm has a market cap of $1.55 billion, a PE ratio of 27.56, a PEG ratio of 2.33 and a beta of 0.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.72 and a quick ratio of 1.68.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Thursday, February 28th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($1.96). Magellan Health had a net margin of 0.33% and a return on equity of 4.67%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.89 billion. As a group, research analysts anticipate that Magellan Health Inc will post 2.78 earnings per share for the current year.

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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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