ValuEngine cut shares of Magellan Health (NASDAQ:MGLN) from a hold rating to a sell rating in a report published on Tuesday morning.
MGLN has been the topic of a number of other research reports. Stephens began coverage on shares of Magellan Health in a research report on Monday, January 14th. They issued an equal weight rating and a $68.00 price objective on the stock. TheStreet lowered shares of Magellan Health from a b- rating to a c+ rating in a research report on Friday, November 9th. BidaskClub raised shares of Magellan Health from a buy rating to a strong-buy rating in a research report on Thursday, January 31st. Zacks Investment Research lowered shares of Magellan Health from a hold rating to a sell rating in a research report on Saturday, October 13th. Finally, Leerink Swann lowered shares of Magellan Health from an outperform rating to a market perform rating and dropped their price target for the stock from $90.00 to $70.00 in a research report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $79.50.
Shares of MGLN stock traded down $0.16 during trading on Tuesday, reaching $63.64. The company’s stock had a trading volume of 891 shares, compared to its average volume of 224,485. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.54 billion, a PE ratio of 11.50, a P/E/G ratio of 1.92 and a beta of 0.47. Magellan Health has a one year low of $51.88 and a one year high of $112.25.
Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.28. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. Magellan Health had a net margin of 1.49% and a return on equity of 10.93%. The firm’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 earnings per share. On average, equities analysts predict that Magellan Health will post 3.62 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Bank of Australia acquired a new position in shares of Magellan Health in the third quarter valued at $244,000. Prudential Financial Inc. grew its stake in Magellan Health by 0.7% during the third quarter. Prudential Financial Inc. now owns 245,723 shares of the company’s stock worth $17,704,000 after buying an additional 1,799 shares in the last quarter. BW Gestao de Investimentos Ltda. grew its stake in Magellan Health by 49.2% during the third quarter. BW Gestao de Investimentos Ltda. now owns 7,089 shares of the company’s stock worth $511,000 after buying an additional 2,339 shares in the last quarter. Smith Graham & Co. Investment Advisors LP lifted its holdings in shares of Magellan Health by 23.3% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 165,732 shares of the company’s stock worth $11,941,000 after acquiring an additional 31,272 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Magellan Health by 2.6% in the third quarter. BlackRock Inc. now owns 3,564,373 shares of the company’s stock worth $256,812,000 after acquiring an additional 90,525 shares during the last quarter. 96.27% of the stock is currently owned by hedge funds and other institutional investors.
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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