Magellan Health, Inc. (NASDAQ:MGLN) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.45-5.86 for the period, compared to the Thomson Reuters consensus estimate of $5.13. The company issued revenue guidance of $5.75-5.85 billion, compared to the consensus revenue estimate of $5.80 billion.
A number of research firms have issued reports on MGLN. KeyCorp raised shares of Magellan Health from a sector weight rating to an overweight rating and set a $91.00 price target for the company in a report on Thursday, July 13th. Zacks Investment Research raised shares of Magellan Health from a hold rating to a buy rating and set a $90.00 price target for the company in a report on Tuesday, July 18th. BidaskClub raised shares of Magellan Health from a sell rating to a hold rating in a report on Tuesday, August 8th. Jefferies Group LLC reaffirmed a buy rating and issued a $94.00 price target on shares of Magellan Health in a report on Friday, October 13th. Finally, ValuEngine raised shares of Magellan Health from a hold rating to a buy rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $83.00.
Magellan Health, Inc. (NASDAQ MGLN) opened at 90.50 on Wednesday. The firm’s 50-day moving average is $84.65 and its 200 day moving average is $76.73. The stock has a market capitalization of $2.14 billion, a P/E ratio of 25.77 and a beta of 0.58. Magellan Health, Inc. has a 12-month low of $49.50 and a 12-month high of $92.00.
Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.24. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Magellan Health had a net margin of 1.59% and a return on equity of 8.88%. Magellan Health’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 EPS. Equities analysts expect that Magellan Health, Inc. will post $5.13 EPS for the current year.
In other news, General Counsel Daniel N. Gregoire sold 12,475 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $88.02, for a total transaction of $1,098,049.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Daniel N. Gregoire sold 35,658 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $85.17, for a total transaction of $3,036,991.86. Following the transaction, the general counsel now directly owns 49,115 shares in the company, valued at $4,183,124.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 234,536 shares of company stock worth $20,023,252. Corporate insiders own 3.60% of the company’s stock.
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About Magellan Health
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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