Magellan Health (NASDAQ:MGLN) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, ValuEngine reports.

Separately, BidaskClub lowered shares of Woodward, Inc.Common Stock from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Magellan Health has an average rating of “Hold” and a consensus target price of $74.80.

NASDAQ:MGLN traded down $0.71 on Monday, hitting $67.92. The stock had a trading volume of 367,200 shares, compared to its average volume of 295,157. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.62 and a current ratio of 1.67. The firm has a market capitalization of $1.65 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59. The stock has a fifty day moving average price of $69.40. Magellan Health has a 1-year low of $51.88 and a 1-year high of $77.15.

Magellan Health (NASDAQ:MGLN) last posted its earnings results on Thursday, May 2nd. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Magellan Health had a net margin of 0.18% and a return on equity of 3.83%. Magellan Health’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 EPS. Analysts forecast that Magellan Health will post 4.01 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new stake in shares of Magellan Health in the 4th quarter valued at approximately $44,000. Destination Wealth Management purchased a new stake in shares of Magellan Health in the 2nd quarter valued at approximately $45,000. FNY Investment Advisers LLC purchased a new stake in shares of Magellan Health in the 1st quarter valued at approximately $52,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Magellan Health in the 1st quarter valued at approximately $73,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Magellan Health in the 1st quarter valued at approximately $204,000. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Magellan Health Company 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.

Further Reading: How to Invest in the Dividend Aristocrat Index

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Magellan Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health and related companies with MarketBeat.com's FREE daily email newsletter.