Zacks: Brokerages Anticipate Magellan Health (MGLN) to Announce $0.99 Earnings Per Share

Wall Street analysts forecast that Magellan Health (NASDAQ:MGLN) will report earnings per share of $0.99 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Magellan Health’s earnings, with the highest EPS estimate coming in at $1.01 and the lowest estimate coming in at $0.96. Magellan Health posted earnings per share of $0.74 in the same quarter last year, which would indicate a positive year over year growth rate of 33.8%. The firm is expected to report its next earnings results before the market opens on Thursday, April 26th.

On average, analysts expect that Magellan Health will report full year earnings of $6.73 per share for the current fiscal year, with EPS estimates ranging from $6.69 to $6.76. For the next fiscal year, analysts anticipate that the company will post earnings of $7.84 per share, with EPS estimates ranging from $7.77 to $7.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Magellan Health.

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Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings data 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 return on equity of 10.86% and a net margin of 1.89%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the company earned $1.80 earnings per share. Magellan Health’s quarterly revenue was up 34.1% compared to the same quarter last year.



MGLN has been the topic of several analyst reports. BidaskClub downgraded shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 19th. ValuEngine downgraded shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research downgraded shares of Magellan Health from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, Leerink Swann raised shares of Magellan Health from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 15th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Magellan Health has an average rating of “Buy” and a consensus price target of $97.50.

Shares of NASDAQ:MGLN opened at $108.45 on Friday. 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 has a 1 year low of $67.20 and a 1 year high of $111.10. The firm has a market cap of $2,675.38, a P/E ratio of 19.72, a PEG ratio of 1.15 and a beta of 0.50.

In other news, CEO Barry M. Smith sold 13,375 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $101.20, for a total value of $1,353,550.00. Following the sale, the chief executive officer now directly owns 42,807 shares of the company’s stock, valued at $4,332,068.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Daniel N. Gregoire sold 22,875 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $99.05, for a total value of $2,265,768.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,428 shares of company stock worth $7,858,688. 3.60% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of MGLN. Gotham Asset Management LLC acquired a new stake in shares of Magellan Health in the fourth quarter valued at about $201,000. Shelton Capital Management acquired a new stake in shares of Magellan Health in the fourth quarter valued at about $205,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Magellan Health in the fourth quarter valued at about $275,000. CIBC Asset Management Inc acquired a new stake in shares of Magellan Health in the fourth quarter valued at about $291,000. Finally, Meadow Creek Investment Management LLC grew its position in shares of Magellan Health by 20.8% in the fourth quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the company’s stock valued at $330,000 after purchasing an additional 588 shares during the last quarter. 97.32% of the stock is currently owned by institutional investors.

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About Magellan Health

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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