Dupont Capital Management Corp decreased its stake in shares of Magellan Health Inc (NASDAQ:MGLN) by 8.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,142 shares of the company’s stock after selling 727 shares during the period. Dupont Capital Management Corp’s holdings in Magellan Health were worth $594,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its holdings in Magellan Health by 21.2% in the first quarter. Mutual of America Capital Management LLC now owns 949 shares of the company’s stock worth $46,000 after acquiring an additional 166 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Magellan Health in the first quarter worth about $73,000. IndexIQ Advisors LLC bought a new position in Magellan Health in the first quarter worth about $194,000. Magnus Financial Group LLC lifted its holdings in Magellan Health by 60.0% in the first quarter. Magnus Financial Group LLC now owns 4,316 shares of the company’s stock worth $208,000 after acquiring an additional 1,619 shares during the last quarter. Finally, Cullen Capital Management LLC lifted its holdings in Magellan Health by 89.6% in the first quarter. Cullen Capital Management LLC now owns 4,900 shares of the company’s stock worth $236,000 after acquiring an additional 2,315 shares during the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Jeffrey N. West sold 1,415 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $78.50, for a total transaction of $111,077.50. Following the transaction, the senior vice president now owns 24,430 shares in the company, valued at $1,917,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James E. Murray acquired 4,500 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $67.63 per share, for a total transaction of $304,335.00. Following the purchase, the chief operating officer now directly owns 4,500 shares of the company’s stock, valued at $304,335. The disclosure for this purchase can be found here. Insiders own 14.10% of the company’s stock.
MGLN opened at $74.17 on Friday. The business’s 50 day moving average is $72.02 and its 200-day moving average is $65.28. The stock has a market cap of $1.88 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 4.73 and a beta of 1.22. The company has a current ratio of 2.05, a quick ratio of 1.71 and a debt-to-equity ratio of 0.42. Magellan Health Inc has a twelve month low of $30.60 and a twelve month high of $81.04.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.34. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Magellan Health had a return on equity of 7.74% and a net margin of 2.20%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. As a group, analysts forecast that Magellan Health Inc will post 0.87 EPS for the current year.
A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised their target price on shares of Magellan Health from $85.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Friday, July 24th. Finally, ValuEngine cut shares of Magellan Health from a “hold” rating to a “sell” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $81.50.
Magellan Health Profile
Magellan Health, Inc provides healthcare management services in the United States. The company 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.
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