Magellan Health (MGLN) Upgraded at BidaskClub

BidaskClub upgraded shares of Magellan Health (NASDAQ:MGLN) from a buy rating to a strong-buy rating in a research report released on Thursday.

A number of other equities research analysts have also recently commented on the company. Raymond James Financial reiterated a hold rating on shares of Magellan Health in a research note on Saturday, December 2nd. KeyCorp set a $105.00 price target on Magellan Health and gave the company a buy rating in a research note on Friday, December 1st. Jefferies Group reiterated a buy rating and issued a $94.00 price target on shares of Magellan Health in a research note on Friday, October 13th. Zacks Investment Research cut Magellan Health from a buy rating to a hold rating in a research note on Wednesday, October 4th. Finally, ValuEngine raised Magellan Health from a hold rating to a buy rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $90.50.

Magellan Health (NASDAQ MGLN) traded up $0.20 during trading on Thursday, reaching $98.50. The company’s stock had a trading volume of 159,000 shares, compared to its average volume of 143,928. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.28. Magellan Health has a 52 week low of $64.05 and a 52 week high of $99.25. The stock has a market capitalization of $2,368.17, a PE ratio of 22.44, a PEG ratio of 1.31 and a beta of 0.54.

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. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the business posted $1.39 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. equities research analysts predict that Magellan Health will post 5.19 EPS for the current fiscal year.

In other news, insider Clapper Caskie Lewis sold 59,313 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $93.99, for a total value of $5,574,828.87. Following the transaction, the insider now directly owns 48,474 shares of the company’s stock, valued at $4,556,071.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mostafa Kamal sold 604 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $83.00, for a total value of $50,132.00. Following the completion of the transaction, the chief executive officer now directly owns 19 shares in the company, valued at $1,577. The disclosure for this sale can be found here. Insiders sold 303,300 shares of company stock worth $26,534,359 over the last three months. Corporate insiders own 5.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in MGLN. Ameritas Investment Partners Inc. grew its holdings in Magellan Health by 6.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock worth $152,000 after acquiring an additional 120 shares during the period. Advisory Services Network LLC acquired a new stake in Magellan Health during the second quarter worth about $165,000. Parametrica Management Ltd acquired a new stake in Magellan Health during the third quarter worth about $244,000. HighTower Advisors LLC acquired a new stake in Magellan Health during the second quarter worth about $210,000. Finally, Pacad Investment Ltd. grew its holdings in Magellan Health by 34.8% during the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock worth $226,000 after acquiring an additional 800 shares during the period. 94.96% of the stock is currently owned by institutional investors and hedge funds.

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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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