Magellan Health Inc (NASDAQ:MGLN) CEO Barry M. Smith sold 13,367 shares of Magellan Health stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $95.94, for a total transaction of $1,282,429.98. Following the completion of the sale, the chief executive officer now directly owns 42,799 shares in the company, valued at approximately $4,106,136.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Magellan Health Inc (NASDAQ MGLN) traded down $0.60 on Thursday, hitting $99.05. 75,400 shares of the stock were exchanged, compared to its average volume of 119,736. The stock has a market cap of $2,395.81, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.17 and a beta of 0.53. 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 Inc has a 12-month low of $64.05 and a 12-month high of $99.95.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.24. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.49 billion. Magellan Health had a net margin of 1.68% and a return on equity of 9.20%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. research analysts forecast that Magellan Health Inc will post 5.19 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. grew its position in shares of Magellan Health by 2.1% during the 2nd quarter. Suntrust Banks Inc. now owns 4,018 shares of the company’s stock valued at $292,000 after purchasing an additional 84 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Magellan Health by 6.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock valued at $152,000 after purchasing an additional 120 shares in the last quarter. Amalgamated Bank grew its position in shares of Magellan Health by 5.1% during the 2nd quarter. Amalgamated Bank now owns 3,265 shares of the company’s stock valued at $238,000 after purchasing an additional 159 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Magellan Health by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 18,274 shares of the company’s stock worth $1,331,000 after acquiring an additional 223 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Magellan Health by 0.6% in the second quarter. California Public Employees Retirement System now owns 80,700 shares of the company’s stock worth $5,883,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Magellan Health from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. KeyCorp reiterated a “buy” rating and issued a $89.00 price objective on shares of Magellan Health in a research note on Friday, September 22nd. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Raymond James Financial reiterated a “hold” rating on shares of Magellan Health in a research note on Saturday, December 2nd. Finally, Jefferies Group reiterated a “buy” rating and issued a $94.00 price objective on shares of Magellan Health in a research note on Friday, October 13th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $96.00.
Magellan Health Company Profile
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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