Magellan Health Inc (NASDAQ:MGLN) CEO Mostafa Kamal sold 15,428 shares of Magellan Health stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $99.04, for a total transaction of $1,527,989.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Magellan Health Inc (NASDAQ:MGLN) traded up $0.85 during midday trading on Wednesday, reaching $104.35. 90,713 shares of the company’s stock traded hands, compared to its average volume of 161,038. 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. The stock 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.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.26. Magellan Health had a net margin of 1.89% and a return on equity of 10.86%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The business’s revenue for the quarter was up 34.1% on a year-over-year basis. analysts forecast that Magellan Health Inc will post 5.89 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGLN. BlackRock Inc. grew its holdings in Magellan Health by 5.2% in the fourth quarter. BlackRock Inc. now owns 3,206,577 shares of the company’s stock worth $309,596,000 after purchasing an additional 159,726 shares during the last quarter. Hood River Capital Management LLC grew its holdings in shares of Magellan Health by 45.7% during the third quarter. Hood River Capital Management LLC now owns 507,355 shares of the company’s stock valued at $43,785,000 after buying an additional 159,110 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Magellan Health by 308.0% during the third quarter. Wells Fargo & Company MN now owns 137,829 shares of the company’s stock valued at $11,894,000 after buying an additional 104,045 shares during the last quarter. Hillcrest Asset Management LLC purchased a new stake in shares of Magellan Health during the third quarter valued at $8,822,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Magellan Health during the third quarter valued at $8,690,000. 97.35% 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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