Magellan Health (NASDAQ:MGLN) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Thursday, May 31st.

MGLN has been the subject of several other reports. ValuEngine raised shares of Magellan Health from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Magellan Health from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Raymond James raised shares of Magellan Health from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 1st. Finally, Leerink Swann raised shares of Magellan Health from a “market perform” rating to an “outperform” rating in a report on Thursday, March 15th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $97.50.

Magellan Health traded up $0.35, hitting $92.90, during trading hours on Thursday, Marketbeat reports. The stock had a trading volume of 183,400 shares, compared to its average volume of 181,477. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.64 and a quick ratio of 1.60. Magellan Health has a one year low of $70.70 and a one year high of $112.25. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.12 and a beta of 0.53.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Thursday, April 26th. The company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. equities research analysts expect that Magellan Health will post 5.51 EPS for the current fiscal year.

In other news, CEO Barry M. Smith sold 13,375 shares of Magellan Health stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $86.02, for a total transaction of $1,150,517.50. Following the completion of the sale, the chief executive officer now directly owns 57,605 shares of the company’s stock, valued at approximately $4,955,182.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 40,125 shares of company stock valued at $3,768,406 over the last ninety days. 4.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. bought a new stake in shares of Magellan Health during the 1st quarter worth $283,000. Principal Financial Group Inc. lifted its holdings in shares of Magellan Health by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 199,504 shares of the company’s stock worth $21,367,000 after acquiring an additional 6,850 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Magellan Health in the 1st quarter worth $275,000. Xact Kapitalforvaltning AB raised its position in Magellan Health by 59.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 4,551 shares of the company’s stock worth $487,000 after purchasing an additional 1,700 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Magellan Health by 21.2% in the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 42,300 shares of the company’s stock worth $4,530,000 after purchasing an additional 7,400 shares during the period. 95.84% of the stock is owned by institutional investors.

Magellan Health Company Profile

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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