News stories about Magellan Health (NASDAQ:MGLN) have been trending somewhat positive on Sunday, Accern reports. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Magellan Health earned a coverage optimism score of 0.06 on Accern’s scale. Accern also gave news articles about the company an impact score of 45.1611459188702 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Several research analysts recently weighed in on the company. ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub upgraded Magellan Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. KeyCorp reiterated a “buy” rating and issued a $89.00 price objective on shares of Magellan Health in a research report on Friday, September 22nd. Raymond James Financial reiterated a “hold” rating on shares of Magellan Health in a research report on Saturday, December 2nd. Finally, Jefferies Group reiterated a “buy” rating and issued a $94.00 price objective on shares of Magellan Health in a research report on Friday, October 13th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $96.00.
Magellan Health (NASDAQ MGLN) opened at $98.25 on Friday. Magellan Health has a 52-week low of $64.05 and a 52-week high of $99.80. The company has a market capitalization of $2,376.58, a price-to-earnings ratio of 25.92, a PEG ratio of 1.16 and a beta of 0.53. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.28.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.40 by $0.24. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business posted $1.39 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. equities research analysts predict that Magellan Health will post 5.19 EPS for the current year.
In other news, CFO Jonathan N. Rubin sold 17,443 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $96.07, for a total transaction of $1,675,749.01. Following the completion of the transaction, the chief financial officer now directly owns 43,890 shares in the company, valued at $4,216,512.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mostafa Kamal sold 1,154 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $92.00, for a total value of $106,168.00. Following the transaction, the chief executive officer now owns 1,154 shares of the company’s stock, valued at $106,168. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,101 shares of company stock valued at $10,412,588. Company insiders own 3.60% of the company’s stock.
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About Magellan Health
Magellan Health, Inc is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC).
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