Media stories about Magellan Health (NASDAQ:MGLN) have trended somewhat positive recently, according to Accern. Accern rates the sentiment of news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Magellan Health earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave news coverage about the company an impact score of 43.5582259504607 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the news articles that may have impacted Accern Sentiment’s scoring:
- MAGELLAN HEALTH INC : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) (4-traders.com)
- Magellan Health Provides Free Counseling Services and Referrals to Local Community Resources to Individuals Impacted by California Wildfires (finance.yahoo.com)
- Magellan Health (MGLN) & The Competition Financial Survey (americanbankingnews.com)
- Magellan Health Receives Regulatory Approvals to Acquire Senior Whole Health (finance.yahoo.com)
- Reviewing Magellan Health (MGLN) and The Competition (americanbankingnews.com)
Shares of Magellan Health (NASDAQ:MGLN) traded up 0.82% during mid-day trading on Wednesday, reaching $85.65. 9,751 shares of the company were exchanged. Magellan Health has a 12 month low of $49.50 and a 12 month high of $88.10. The company’s 50 day moving average price is $82.40 and its 200 day moving average price is $74.90. The firm has a market capitalization of $2.03 billion, a PE ratio of 57.87 and a beta of 0.58.
Magellan Health (NASDAQ:MGLN) last released its earnings results on Friday, July 28th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.48). Magellan Health had a return on equity of 8.88% and a net margin of 1.59%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities analysts anticipate that Magellan Health will post $5.13 earnings per share for the current year.
Several analysts have recently commented on MGLN shares. BidaskClub upgraded shares of Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. KeyCorp upgraded shares of Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price target on the stock in a research report on Thursday, July 13th. Zacks Investment Research lowered shares of Magellan Health from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Leerink Swann reiterated an “outperform” rating and issued a $73.00 price target (up from $68.00) on shares of Magellan Health in a research report on Sunday, June 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $81.80.
In other news, CEO Mostafa Kamal sold 604 shares of Magellan Health stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $83.00, for a total value of $50,132.00. Following the transaction, the chief executive officer now directly owns 19 shares of the company’s stock, valued at $1,577. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Daniel N. Gregoire sold 12,475 shares of Magellan Health stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $88.02, for a total transaction of $1,098,049.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 332,479 shares of company stock worth $27,870,009. 3.60% of the stock is currently owned by insiders.
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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