Dimensional Fund Advisors LP Trims Holdings in Magellan Health (NASDAQ:MGLN)

Dimensional Fund Advisors LP reduced its holdings in Magellan Health (NASDAQ:MGLN) by 0.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,981,102 shares of the company’s stock after selling 9,920 shares during the quarter. Dimensional Fund Advisors LP owned approximately 8.04% of Magellan Health worth $212,176,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meadow Creek Investment Management LLC increased its position in Magellan Health by 20.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the company’s stock valued at $330,000 after acquiring an additional 588 shares during the period. BlackRock Inc. increased 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 acquiring an additional 159,726 shares during the period. Bessemer Group Inc. increased its position in Magellan Health by 31.2% in the 4th quarter. Bessemer Group Inc. now owns 18,500 shares of the company’s stock valued at $1,786,000 after acquiring an additional 4,400 shares during the period. California Public Employees Retirement System increased its position in Magellan Health by 1.3% in the 4th quarter. California Public Employees Retirement System now owns 82,825 shares of the company’s stock valued at $7,997,000 after acquiring an additional 1,081 shares during the period. Finally, Arizona State Retirement System increased its position in Magellan Health by 228.2% in the 4th quarter. Arizona State Retirement System now owns 40,410 shares of the company’s stock valued at $3,902,000 after acquiring an additional 28,098 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.

MGLN opened at $92.90 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.64 and a debt-to-equity ratio of 0.56. The firm has a market cap of $2.35 billion, a PE ratio of 16.85, a PEG ratio of 1.12 and a beta of 0.53. Magellan Health has a twelve month low of $70.70 and a twelve month high of $112.25.



Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings results on Thursday, April 26th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.20). The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.83 billion. Magellan Health had a return on equity of 10.72% and a net margin of 1.64%. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. research analysts anticipate that Magellan Health will post 5.51 earnings per share for the current fiscal year.

MGLN has been the subject of several recent analyst reports. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research cut shares of Magellan Health from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. Raymond James upgraded shares of Magellan Health from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 1st. BidaskClub cut shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 28th. Finally, Leerink Swann upgraded shares of Magellan Health from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 15th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $97.50.

In other Magellan Health news, CEO Barry M. Smith sold 13,375 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $86.02, for a total value of $1,150,517.50. Following the completion of the sale, the chief executive officer now directly owns 57,605 shares in the company, valued at $4,955,182.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 40,125 shares of company stock valued at $3,768,406 over the last 90 days. Corporate insiders own 4.60% 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.

Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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