Brokerages Set Magellan Health (MGLN) PT at $99.50

Shares of Magellan Health (NASDAQ:MGLN) have been given a consensus rating of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $99.50.

Several equities analysts have commented on MGLN shares. ValuEngine downgraded Magellan Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 7th. Leerink Swann upgraded Magellan Health from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 15th. BidaskClub raised Magellan Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 17th. Zacks Investment Research raised Magellan Health from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research note on Thursday, March 22nd. Finally, Raymond James raised Magellan Health from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 1st.

In other news, CEO Barry M. Smith sold 13,375 shares of the stock in a transaction dated Tuesday, May 1st. The stock was 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 owns 57,605 shares of the company’s stock, valued at $4,955,182.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 40,125 shares of company stock valued at $3,768,406. Insiders own 4.60% of the company’s stock.



Hedge funds have recently modified their holdings of the company. Gotham Asset Management LLC acquired a new stake in shares of Magellan Health in the fourth quarter valued at about $201,000. Natixis acquired a new stake in shares of Magellan Health in the first quarter valued at about $213,000. Trexquant Investment LP acquired a new stake in shares of Magellan Health in the first quarter valued at about $260,000. Xact Kapitalforvaltning AB acquired a new stake in Magellan Health during the fourth quarter worth approximately $275,000. Finally, WINTON GROUP Ltd acquired a new stake in Magellan Health during the first quarter worth approximately $275,000. 96.03% of the stock is owned by institutional investors.

Magellan Health stock opened at $98.20 on Tuesday. 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 stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.17 and a beta of 0.53. Magellan Health has a 12 month low of $70.70 and a 12 month high of $112.25.

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

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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