Magellan Health, Inc. (MGLN) CEO Mostafa Kamal Sells 1,154 Shares

Magellan Health, Inc. (NASDAQ:MGLN) CEO Mostafa Kamal sold 1,154 shares of Magellan Health stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $92.00, for a total value of $106,168.00. Following the sale, the chief executive officer now directly owns 1,154 shares in the company, valued at approximately $106,168. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Mostafa Kamal also recently made the following trade(s):

  • On Thursday, September 28th, Mostafa Kamal sold 4,848 shares of Magellan Health stock. The shares were sold at an average price of $85.76, for a total value of $415,764.48.
  • On Wednesday, September 27th, Mostafa Kamal sold 19,126 shares of Magellan Health stock. The shares were sold at an average price of $85.33, for a total value of $1,632,021.58.
  • On Friday, September 15th, Mostafa Kamal sold 2,961 shares of Magellan Health stock. The shares were sold at an average price of $84.00, for a total value of $248,724.00.
  • On Wednesday, September 13th, Mostafa Kamal sold 604 shares of Magellan Health stock. The shares were sold at an average price of $83.00, for a total value of $50,132.00.
  • On Monday, September 11th, Mostafa Kamal sold 670 shares of Magellan Health stock. The shares were sold at an average price of $83.00, for a total value of $55,610.00.
  • On Friday, September 8th, Mostafa Kamal sold 6,267 shares of Magellan Health stock. The shares were sold at an average price of $81.53, for a total value of $510,948.51.
  • On Thursday, September 7th, Mostafa Kamal sold 2,190 shares of Magellan Health stock. The shares were sold at an average price of $81.07, for a total value of $177,543.30.

Shares of Magellan Health, Inc. (NASDAQ:MGLN) traded up $0.65 during mid-day trading on Friday, hitting $85.40. The stock had a trading volume of 291,353 shares, compared to its average volume of 134,005. Magellan Health, Inc. has a twelve month low of $49.90 and a twelve month high of $92.00. The company has a quick ratio of 1.19, a current ratio of 2.28 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $2,050.00, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.00 and a beta of 0.55.

Magellan Health (NASDAQ:MGLN) last issued its earnings results on Wednesday, November 1st. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.24. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. analysts anticipate that Magellan Health, Inc. will post 4.69 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its stake in Magellan Health by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock valued at $152,000 after purchasing an additional 120 shares in the last quarter. Advisory Services Network LLC purchased a new position in Magellan Health in the second quarter valued at about $165,000. Parametrica Management Ltd purchased a new position in Magellan Health in the third quarter valued at about $244,000. HighTower Advisors LLC purchased a new position in Magellan Health in the second quarter valued at about $210,000. Finally, Eqis Capital Management Inc. purchased a new position in Magellan Health in the second quarter valued at about $210,000. Hedge funds and other institutional investors own 93.25% of the company’s stock.

Several analysts have weighed in on the company. KeyCorp raised Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a research note on Thursday, July 13th. Zacks Investment Research raised Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, July 18th. BidaskClub raised Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 price objective on shares of Magellan Health in a research note on Friday, October 13th. Finally, ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. 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 company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $83.00.

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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