Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 2,400 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $83.00, for a total transaction of $199,200.00. Following the transaction, the general counsel now directly owns 15,857 shares of the company’s stock, valued at $1,316,131. The sale was disclosed in a document filed with the SEC, which is available through this link.
Magellan Health, Inc. (NASDAQ MGLN) traded down 0.42% on Tuesday, hitting $82.45. 37,538 shares of the stock traded hands. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 23.48 and a beta of 0.57. Magellan Health, Inc. has a 12-month low of $49.50 and a 12-month high of $84.71. The stock has a 50-day moving average of $77.98 and a 200-day moving average of $72.31.
Magellan Health (NASDAQ:MGLN) last posted its earnings results on Friday, July 28th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.48). Magellan Health had a return on equity of 8.88% and a net margin of 1.59%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $0.58 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts forecast that Magellan Health, Inc. will post $5.13 earnings per share for the current year.
Several research analysts have weighed in on MGLN shares. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. KeyCorp raised shares of Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price objective for the company in a report on Thursday, July 13th. Zacks Investment Research raised shares of Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Tuesday, July 18th. ValuEngine raised shares of Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Leerink Swann reissued an “outperform” rating and set a $73.00 price objective (up from $68.00) on shares of Magellan Health in a report on Sunday, June 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $82.20.
Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Magellan Health in the 1st quarter worth about $136,000. Advisory Services Network LLC acquired a new position in Magellan Health during the 2nd quarter worth about $165,000. HighTower Advisors LLC acquired a new position in Magellan Health during the 2nd quarter worth about $210,000. Eqis Capital Management Inc. acquired a new position in Magellan Health during the 2nd quarter worth about $210,000. Finally, Pacad Investment Ltd. lifted its position in Magellan Health by 34.8% during the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock worth $226,000 after buying an additional 800 shares in the last quarter. 93.54% of the stock is currently owned by institutional investors and hedge funds.
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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