Magellan Health Inc Expected to Earn Q1 2019 Earnings of $0.34 Per Share (MGLN)

Magellan Health Inc (NASDAQ:MGLN) – Equities research analysts at Svb Leerink dropped their Q1 2019 EPS estimates for shares of Magellan Health in a report issued on Monday, April 15th. Svb Leerink analyst A. Gupte now forecasts that the company will post earnings per share of $0.34 for the quarter, down from their prior forecast of $0.48. Svb Leerink also issued estimates for Magellan Health’s Q2 2019 earnings at $0.61 EPS.

Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings results on Thursday, February 28th. The company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($1.96). The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.89 billion. Magellan Health had a net margin of 0.33% and a return on equity of 4.67%.

A number of other research analysts also recently weighed in on the company. Bank of America initiated coverage on Magellan Health in a research note on Friday, February 22nd. They issued a “buy” rating and a $84.00 price target for the company. Stephens initiated coverage on Magellan Health in a research note on Monday, January 14th. They issued an “equal weight” rating and a $68.00 price target for the company. ValuEngine upgraded Magellan Health from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. BidaskClub upgraded Magellan Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 31st. Finally, Zacks Investment Research upgraded Magellan Health from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, February 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $74.80.

MGLN stock opened at $63.31 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 2.33 and a beta of 0.48. Magellan Health has a twelve month low of $51.88 and a twelve month high of $112.25.

A number of hedge funds have recently bought and sold shares of MGLN. PNC Financial Services Group Inc. acquired a new stake in shares of Magellan Health in the fourth quarter valued at approximately $44,000. Financial Gravity Companies Inc. acquired a new stake in shares of Magellan Health in the fourth quarter valued at approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Magellan Health by 22.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,831 shares of the company’s stock valued at $104,000 after buying an additional 332 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of Magellan Health in the fourth quarter valued at approximately $132,000. Finally, Resources Investment Advisors Inc. acquired a new stake in shares of Magellan Health in the fourth quarter valued at approximately $193,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.

About Magellan Health

Magellan Health, Inc provides healthcare management services in the United States. It operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine for health plans, care organizations, and employers.

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