Magellan Health Inc (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 8,275 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $89.08, for a total transaction of $737,137.00. Following the transaction, the general counsel now directly owns 16,690 shares of the company’s stock, valued at approximately $1,486,745.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Magellan Health Inc (MGLN) opened at $96.40 on Thursday. The stock has a market cap of $2,300.85, a P/E ratio of 21.80, a P/E/G ratio of 1.23 and a beta of 0.54. Magellan Health Inc has a 1 year low of $64.05 and a 1 year high of $96.85. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62.
Magellan Health (NASDAQ:MGLN) last posted its earnings results on Wednesday, November 1st. The company reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.24. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.49 billion. Magellan Health had a net margin of 1.68% and a return on equity of 9.20%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 EPS. analysts expect that Magellan Health Inc will post 5.19 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGLN. Aperio Group LLC boosted its holdings in Magellan Health by 14.4% in the 2nd quarter. Aperio Group LLC now owns 12,901 shares of the company’s stock worth $940,000 after acquiring an additional 1,627 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in Magellan Health by 20.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,510 shares of the company’s stock worth $1,276,000 after acquiring an additional 3,000 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Magellan Health by 3.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 33,815 shares of the company’s stock worth $2,463,000 after acquiring an additional 1,100 shares during the period. Texas Permanent School Fund boosted its holdings in Magellan Health by 1.3% in the 2nd quarter. Texas Permanent School Fund now owns 17,316 shares of the company’s stock worth $1,262,000 after acquiring an additional 230 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Magellan Health by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 12,412 shares of the company’s stock worth $905,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 94.96% of the company’s stock.
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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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