Credit Agricole S A bought a new stake in shares of Magellan Health Inc (NASDAQ:MGLN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,007 shares of the company’s stock, valued at approximately $151,000.
Several other institutional investors have also recently bought and sold shares of MGLN. Victory Capital Management Inc. increased its position in Magellan Health by 163.7% in the third quarter. Victory Capital Management Inc. now owns 1,029,042 shares of the company’s stock valued at $55,290,000 after buying an additional 638,753 shares during the last quarter. JPMorgan Chase & Co. increased its position in Magellan Health by 15.9% in the third quarter. JPMorgan Chase & Co. now owns 752,744 shares of the company’s stock valued at $40,445,000 after buying an additional 103,451 shares during the last quarter. Northern Trust Corp increased its position in Magellan Health by 1.2% in the third quarter. Northern Trust Corp now owns 689,825 shares of the company’s stock valued at $37,063,000 after buying an additional 8,204 shares during the last quarter. State Street Corp increased its position in Magellan Health by 0.8% in the fourth quarter. State Street Corp now owns 641,563 shares of the company’s stock valued at $48,286,000 after buying an additional 5,053 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Magellan Health by 10.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 168,769 shares of the company’s stock valued at $9,068,000 after buying an additional 15,846 shares during the last quarter. 93.10% of the stock is currently owned by institutional investors.
Shares of Magellan Health Inc (NASDAQ:MGLN) traded up 2.39% during midday trading on Friday, reaching $70.70. The company had a trading volume of 135,113 shares. The firm has a market capitalization of $1.67 billion, a P/E ratio of 21.96 and a beta of 0.70. The company has a 50 day moving average price of $67.52 and a 200-day moving average price of $68.41. Magellan Health Inc has a one year low of $49.50 and a one year high of $84.71.
Magellan Health (NASDAQ:MGLN) last released its earnings results on Friday, February 24th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.12. The firm earned $1.26 billion during the quarter, compared to analyst estimates of $1.33 billion. Magellan Health had a net margin of 1.45% and a return on equity of 7.96%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $1.39 EPS. On average, analysts anticipate that Magellan Health Inc will post $5.38 EPS for the current fiscal year.
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Several equities analysts have recently commented on MGLN shares. Jefferies Group LLC decreased their target price on Magellan Health from $89.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, February 24th. Zacks Investment Research downgraded Magellan Health from a “hold” rating to a “sell” rating in a research report on Friday, April 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $77.50.
In other news, SVP Jeffrey N. West sold 15,055 shares of the firm’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $76.46, for a total value of $1,151,105.30. Following the completion of the sale, the senior vice president now owns 18,248 shares in the company, valued at approximately $1,395,242.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eran Broshy sold 4,867 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $80.00, for a total transaction of $389,360.00. Following the completion of the sale, the director now owns 7,960 shares of the company’s stock, valued at approximately $636,800. The disclosure for this sale can be found here. Insiders sold a total of 36,780 shares of company stock valued at $2,880,077 in the last 90 days. Company insiders own 3.60% 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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