Magellan Health, Inc. (MGLN) CEO Mostafa Kamal Sells 2,961 Shares

Magellan Health, Inc. (NASDAQ:MGLN) CEO Mostafa Kamal sold 2,961 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $84.00, for a total value of $248,724.00. Following the completion of the transaction, the chief executive officer now owns 2,961 shares of the company’s stock, valued at approximately $248,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mostafa Kamal also recently made the following trade(s):

  • On Wednesday, September 13th, Mostafa Kamal sold 604 shares of Magellan Health stock. The stock was sold at an average price of $83.00, for a total value of $50,132.00.
  • On Monday, September 11th, Mostafa Kamal sold 670 shares of Magellan Health stock. The stock was sold at an average price of $83.00, for a total value of $55,610.00.
  • On Friday, September 8th, Mostafa Kamal sold 6,267 shares of Magellan Health stock. The stock was sold at an average price of $81.53, for a total value of $510,948.51.
  • On Thursday, September 7th, Mostafa Kamal sold 2,190 shares of Magellan Health stock. The stock was sold at an average price of $81.07, for a total value of $177,543.30.

Magellan Health, Inc. (NASDAQ:MGLN) traded down 1.164% during mid-day trading on Monday, reaching $82.775. The company’s stock had a trading volume of 90,155 shares. The stock has a 50-day moving average price of $78.48 and a 200-day moving average price of $72.69. Magellan Health, Inc. has a one year low of $49.50 and a one year high of $84.71. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 23.569 and a beta of 0.57.

Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.46 earnings per share (EPS) 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 analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. Equities research analysts forecast that Magellan Health, Inc. will post $5.13 EPS for the current year.

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A number of hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in Magellan Health in the 2nd quarter worth about $165,000. Piedmont Investment Advisors LLC acquired a new stake in Magellan Health in the 2nd quarter worth about $374,000. Dean Capital Management boosted its holdings in Magellan Health by 23.2% in the 2nd quarter. Dean Capital Management now owns 60,949 shares of the company’s stock worth $4,444,000 after buying an additional 11,470 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Magellan Health by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock worth $152,000 after buying an additional 120 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in Magellan Health by 6.3% in the 2nd quarter. Susquehanna International Group LLP now owns 9,742 shares of the company’s stock worth $710,000 after buying an additional 576 shares during the last quarter. Institutional investors own 93.54% of the company’s stock.

Several analysts recently commented on the company. Leerink Swann reaffirmed an “outperform” rating and issued a $73.00 price objective (up previously from $68.00) on shares of Magellan Health in a report on Sunday, June 25th. ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised 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. BidaskClub lowered Magellan Health from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, KeyCorp raised 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $82.20.

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).

Insider Buying and Selling by Quarter for Magellan Health (NASDAQ:MGLN)

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