Magellan Health Inc (MGLN) Receives $71.00 Average Price Target from Analysts

Shares of Magellan Health Inc (NASDAQ:MGLN) have been given a consensus rating of “Hold” by the six analysts that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $71.00.

Several equities analysts have recently weighed in on MGLN shares. BidaskClub raised shares of Magellan Health from a “hold” rating to a “buy” rating in a research report on Monday. Raymond James decreased their price target on shares of Magellan Health from $85.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, November 12th. TheStreet downgraded shares of Magellan Health from a “b-” rating to a “c+” rating in a research note on Friday, November 9th. ValuEngine upgraded shares of Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Finally, Zacks Investment Research upgraded shares of Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th.

NASDAQ MGLN traded down $0.20 on Friday, hitting $60.50. 6,623 shares of the stock were exchanged, compared to its average volume of 348,444. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55. Magellan Health has a 52 week low of $51.88 and a 52 week high of $112.25. The firm has a market capitalization of $1.48 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.84 and a beta of 0.33.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.28. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. Magellan Health had a net margin of 1.49% and a return on equity of 10.93%. The company’s revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. On average, research analysts anticipate that Magellan Health will post 3.61 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Magellan Health by 2.6% during the third quarter. BlackRock Inc. now owns 3,564,373 shares of the company’s stock worth $256,812,000 after buying an additional 90,525 shares in the last quarter. FMR LLC grew its stake in Magellan Health by 0.8% during the third quarter. FMR LLC now owns 2,198,312 shares of the company’s stock worth $158,388,000 after buying an additional 18,011 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Magellan Health by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,063,734 shares of the company’s stock worth $148,692,000 after buying an additional 12,650 shares in the last quarter. Renaissance Technologies LLC grew its stake in Magellan Health by 0.8% during the third quarter. Renaissance Technologies LLC now owns 1,000,500 shares of the company’s stock worth $72,086,000 after buying an additional 8,100 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Magellan Health by 1.2% during the third quarter. Victory Capital Management Inc. now owns 566,012 shares of the company’s stock worth $40,781,000 after buying an additional 6,644 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Magellan Health Company Profile

Magellan Health, Inc provides healthcare management services in the United States. It operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine for health plans, care organizations, and employers.

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