Rhumbline Advisers Purchases 1,104 Shares of Magellan Health (MGLN)

Rhumbline Advisers increased its position in shares of Magellan Health (NASDAQ:MGLN) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,757 shares of the company’s stock after acquiring an additional 1,104 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of Magellan Health worth $6,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Meadow Creek Investment Management LLC boosted its position in shares of Magellan Health by 20.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the company’s stock valued at $330,000 after acquiring an additional 588 shares during the last quarter. BlackRock Inc. boosted its position in shares of Magellan Health by 5.2% during the 4th quarter. BlackRock Inc. now owns 3,206,577 shares of the company’s stock valued at $309,596,000 after acquiring an additional 159,726 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Magellan Health by 31.2% during the 4th quarter. Bessemer Group Inc. now owns 18,500 shares of the company’s stock valued at $1,786,000 after acquiring an additional 4,400 shares during the last quarter. James Investment Research Inc. acquired a new position in shares of Magellan Health during the 4th quarter valued at about $3,343,000. Finally, California Public Employees Retirement System boosted its position in shares of Magellan Health by 1.3% during the 4th quarter. California Public Employees Retirement System now owns 82,825 shares of the company’s stock valued at $7,997,000 after acquiring an additional 1,081 shares during the last quarter. 95.89% of the stock is currently owned by hedge funds and other institutional investors.

In other Magellan Health news, CEO Barry M. Smith sold 13,375 shares of the company’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $103.52, for a total value of $1,384,580.00. Following the transaction, the chief executive officer now owns 57,605 shares of the company’s stock, valued at $5,963,269.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 disclosure for this sale can be found here. Insiders sold 78,428 shares of company stock worth $7,682,405 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

NASDAQ MGLN opened at $91.55 on Monday. Magellan Health has a 12 month low of $67.50 and a 12 month high of $112.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 1.64. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.04 and a beta of 0.52.

Magellan Health (NASDAQ:MGLN) last posted its earnings results on Thursday, April 26th. The company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.20). Magellan Health had a net margin of 1.64% and a return on equity of 10.72%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company earned $1.09 EPS. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. analysts predict that Magellan Health will post 5.69 EPS for the current fiscal year.

Several research analysts have recently weighed in on the stock. ValuEngine raised shares of Magellan Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 6th. BidaskClub raised shares of Magellan Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 17th. Zacks Investment Research raised shares of Magellan Health from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Thursday, March 22nd. Finally, Leerink Swann raised shares of Magellan Health from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 15th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Magellan Health has an average rating of “Buy” and an average price target of $97.50.

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.

Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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