News headlines about Magellan Health (NASDAQ:MGLN) have been trending somewhat positive on Monday, Accern Sentiment reports. The research group rates the sentiment of press coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Magellan Health earned a daily sentiment score of 0.06 on Accern’s scale. Accern also gave news coverage about the company an impact score of 45.1611459188702 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
A number of equities research analysts recently weighed in on the company. ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub upgraded shares of Magellan Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded shares of Magellan Health from a “hold” rating to a “strong-buy” rating and set a $112.00 price target for the company in a research note on Wednesday, December 13th. Raymond James Financial restated a “hold” rating on shares of Magellan Health in a research note on Saturday, December 2nd. Finally, KeyCorp set a $105.00 target price on shares of Magellan Health and gave the company a “buy” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $96.00.
Magellan Health (MGLN) traded down $4.25 during trading hours on Monday, hitting $94.30. 105,649 shares of the stock were exchanged, compared to its average volume of 132,402. Magellan Health has a 52 week low of $64.05 and a 52 week high of $102.70. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $2,369.37, a PE ratio of 24.88, a P/E/G ratio of 1.15 and a beta of 0.52.
Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.24. Magellan Health had a net margin of 1.68% and a return on equity of 9.20%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company posted $1.39 EPS. Magellan Health’s revenue was up 9.9% on a year-over-year basis. analysts anticipate that Magellan Health will post 5.19 earnings per share for the current fiscal year.
In related news, insider Clapper Caskie Lewis sold 59,313 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $93.99, for a total value of $5,574,828.87. Following the completion of the transaction, the insider now owns 48,474 shares in the company, valued at approximately $4,556,071.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mostafa Kamal sold 2,180 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $92.00, for a total transaction of $200,560.00. Following the completion of the transaction, the chief executive officer now owns 2,180 shares of the company’s stock, valued at approximately $200,560. The disclosure for this sale can be found here. Insiders sold a total of 113,953 shares of company stock valued at $10,797,505 in the last 90 days. 5.00% of the stock is currently owned by corporate insiders.
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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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