Magellan Health Inc (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 22,875 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $99.05, for a total transaction of $2,265,768.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Magellan Health Inc (NASDAQ MGLN) traded up $0.85 during trading on Wednesday, hitting $104.35. 90,713 shares of the stock traded hands, compared to its average volume of 161,038. The company has a market capitalization of $2,591.74, a price-to-earnings ratio of 23.40, a P/E/G ratio of 1.25 and a beta of 0.49. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.58. Magellan Health Inc has a fifty-two week low of $64.05 and a fifty-two week high of $109.80.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.29 by $0.26. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.62 billion. Magellan Health had a net margin of 1.89% and a return on equity of 10.86%. The company’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.80 earnings per share. research analysts expect that Magellan Health Inc will post 5.89 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Magellan Health by 5.2% in the 4th quarter. BlackRock Inc. now owns 3,206,577 shares of the company’s stock valued at $309,596,000 after buying an additional 159,726 shares in the last quarter. LSV Asset Management grew its position in Magellan Health by 1.4% in the 4th quarter. LSV Asset Management now owns 813,682 shares of the company’s stock valued at $78,560,000 after buying an additional 11,400 shares in the last quarter. Millennium Management LLC grew its position in Magellan Health by 7.6% in the 4th quarter. Millennium Management LLC now owns 588,464 shares of the company’s stock valued at $56,816,000 after buying an additional 41,463 shares in the last quarter. Hood River Capital Management LLC grew its position in Magellan Health by 8.4% in the 4th quarter. Hood River Capital Management LLC now owns 549,938 shares of the company’s stock valued at $53,097,000 after buying an additional 42,583 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Magellan Health by 1.5% in the 4th quarter. Victory Capital Management Inc. now owns 461,817 shares of the company’s stock valued at $44,588,000 after buying an additional 6,942 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.
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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