Magellan Health, Inc. (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 9,369 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $89.20, for a total value of $835,714.80. Following the completion of the transaction, the general counsel now owns 22,826 shares in the company, valued at $2,036,079.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Magellan Health, Inc. (NASDAQ:MGLN) opened at $85.40 on Friday. The stock has a market capitalization of $2,053.19, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.28 and a quick ratio of 1.19. Magellan Health, Inc. has a 12-month low of $49.90 and a 12-month high of $92.00.
Magellan Health (NASDAQ:MGLN) last announced its earnings results on Wednesday, November 1st. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.24. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.39 earnings per share. equities research analysts expect that Magellan Health, Inc. will post 5.2 EPS for the current year.
Several institutional investors have recently bought and sold shares of MGLN. Ameritas Investment Partners Inc. increased its position in shares of Magellan Health by 6.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock worth $152,000 after acquiring an additional 120 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Magellan Health during the second quarter worth $165,000. Eqis Capital Management Inc. purchased a new stake in shares of Magellan Health during the second quarter worth $210,000. HighTower Advisors LLC purchased a new stake in shares of Magellan Health during the second quarter worth $210,000. Finally, Pacad Investment Ltd. increased its position in shares of Magellan Health by 34.8% during the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock worth $226,000 after acquiring an additional 800 shares during the period. 93.25% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on the company. Zacks Investment Research cut Magellan Health from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. 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 report on Thursday, July 13th. BidaskClub raised Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 target price on shares of Magellan Health in a research report on Friday, October 13th. Finally, ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $83.00.
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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