Magellan Health Inc (NASDAQ:MGLN) General Counsel Daniel N. Gregoire sold 22,875 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $99.05, for a total transaction of $2,265,768.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Magellan Health Inc (NASDAQ MGLN) traded up $0.85 during trading on Wednesday, hitting $104.35. 90,713 shares of the stock traded hands, compared to its average volume of 161,038. Magellan Health Inc has a twelve month low of $64.05 and a twelve month high of $109.80. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.62 and a current ratio of 1.66. The stock has a market cap of $2,591.74, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49.
Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.26. Magellan Health had a net margin of 1.89% and a return on equity of 10.86%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the company posted $1.80 EPS. The business’s revenue for the quarter was up 34.1% on a year-over-year basis. research analysts forecast that Magellan Health Inc will post 5.89 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in shares of Magellan Health by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,274 shares of the company’s stock valued at $1,331,000 after buying an additional 223 shares during the period. Meadow Creek Investment Management LLC lifted its holdings in shares of Magellan Health by 20.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the company’s stock worth $330,000 after acquiring an additional 588 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Magellan Health by 7.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the company’s stock worth $994,000 after acquiring an additional 700 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Magellan Health by 1.6% in the 3rd quarter. Rhumbline Advisers now owns 50,493 shares of the company’s stock worth $4,358,000 after acquiring an additional 773 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in shares of Magellan Health by 18.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 4,906 shares of the company’s stock worth $423,000 after acquiring an additional 774 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on the stock. ValuEngine cut shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Raymond James Financial reaffirmed a “hold” rating on shares of Magellan Health in a research note on Saturday, December 2nd. KeyCorp set a $105.00 price objective on shares of Magellan Health and gave the company a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Magellan Health from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Finally, BidaskClub cut shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $96.00.
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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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