Magellan Health (MGLN) Upgraded at BidaskClub

BidaskClub upgraded shares of Magellan Health (NASDAQ:MGLN) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.

Several other research analysts also recently issued reports on MGLN. ValuEngine raised Magellan Health from a hold rating to a buy rating in a report on Friday, September 1st. KeyCorp reaffirmed a buy rating and set a $89.00 price objective on shares of Magellan Health in a report on Friday, September 22nd. Zacks Investment Research downgraded Magellan Health from a buy rating to a hold rating in a report on Wednesday, October 4th. Jefferies Group reaffirmed a buy rating and set a $94.00 price objective on shares of Magellan Health in a report on Friday, October 13th. Finally, Raymond James Financial reaffirmed a hold rating on shares of Magellan Health in a report on Saturday, December 2nd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $90.50.

Magellan Health (NASDAQ:MGLN) traded up $0.20 during trading hours on Thursday, reaching $98.50. The company’s stock had a trading volume of 152,479 shares, compared to its average volume of 162,903. Magellan Health has a 12-month low of $64.05 and a 12-month high of $99.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.28. The firm has a market cap of $2,368.14, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.54.

Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the business earned $1.39 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. analysts forecast that Magellan Health will post 5.19 EPS for the current fiscal year.

In other Magellan Health news, General Counsel Daniel N. Gregoire sold 2,400 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $199,200.00. Following the completion of the sale, the general counsel now owns 15,857 shares in the company, valued at approximately $1,316,131. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mostafa Kamal sold 670 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $83.00, for a total transaction of $55,610.00. Following the sale, the chief executive officer now owns 670 shares of the company’s stock, valued at approximately $55,610. The disclosure for this sale can be found here. Insiders have sold a total of 306,370 shares of company stock valued at $26,789,169 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. raised its position in shares of Magellan Health by 6.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock valued at $152,000 after acquiring an additional 120 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Magellan Health during the 2nd quarter valued at $165,000. Parametrica Management Ltd bought a new stake in shares of Magellan Health during the 3rd quarter valued at $244,000. HighTower Advisors LLC bought a new stake in shares of Magellan Health in the 2nd quarter valued at $210,000. Finally, Pacad Investment Ltd. increased its position in shares of Magellan Health by 34.8% in the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock valued at $226,000 after buying an additional 800 shares in the last quarter. Institutional investors own 94.96% 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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