Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 9,369 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $89.20, for a total value of $835,714.80. Following the completion of the sale, the general counsel now directly owns 22,826 shares in the company, valued at approximately $2,036,079.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Magellan Health, Inc. (MGLN) opened at $83.65 on Tuesday. The company has a market capitalization of $2,002.72, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.08 and a beta of 0.55. Magellan Health, Inc. has a twelve month low of $64.05 and a twelve month high of $92.00. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62.
Magellan Health (NASDAQ:MGLN) last announced its earnings results on Wednesday, November 1st. The company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.24. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. equities analysts anticipate that Magellan Health, Inc. will post 5.16 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Alpha Windward LLC lifted its holdings in Magellan Health by 7.8% during the 2nd quarter. Alpha Windward LLC now owns 6,600 shares of the company’s stock worth $481,000 after buying an additional 480 shares during the period. Geode Capital Management LLC raised its position in shares of Magellan Health by 6.1% in the 1st quarter. Geode Capital Management LLC now owns 305,624 shares of the company’s stock worth $21,103,000 after acquiring an additional 17,460 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Magellan Health by 3.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 33,815 shares of the company’s stock worth $2,463,000 after acquiring an additional 1,100 shares in the last quarter. LSV Asset Management bought a new position in shares of Magellan Health in the 2nd quarter worth about $44,282,000. Finally, Legal & General Group Plc raised its position in shares of Magellan Health by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 68,542 shares of the company’s stock worth $4,998,000 after acquiring an additional 2,962 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.
MGLN has been the topic of a number of research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $94.00 target price on shares of Magellan Health in a report on Friday, October 13th. BidaskClub raised Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded Magellan Health from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, KeyCorp reissued a “buy” rating and set a $89.00 price objective on shares of Magellan Health in a report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Magellan Health presently has an average rating of “Buy” and a consensus target price of $83.00.
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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