Brandywine Global Investment Management LLC reduced its position in Magellan Health Inc (NASDAQ:MGLN) by 12.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 76,272 shares of the company’s stock after selling 11,017 shares during the period. Brandywine Global Investment Management LLC owned about 0.32% of Magellan Health worth $7,365,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Shelton Capital Management acquired a new stake in Magellan Health during the fourth quarter worth approximately $205,000. CIBC Asset Management Inc acquired a new stake in Magellan Health during the fourth quarter worth approximately $291,000. USA Financial Portformulas Corp acquired a new stake in Magellan Health during the fourth quarter worth approximately $419,000. Campbell & CO Investment Adviser LLC lifted its position in Magellan Health by 18.7% during the third quarter. Campbell & CO Investment Adviser LLC now owns 4,906 shares of the company’s stock worth $423,000 after acquiring an additional 774 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in Magellan Health during the third quarter worth approximately $431,000. Institutional investors and hedge funds own 97.35% of the company’s stock.
In other news, CEO Barry M. Smith sold 13,367 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $95.94, for a total transaction of $1,282,429.98. Following the transaction, the chief executive officer now directly owns 42,799 shares of the company’s stock, valued at $4,106,136.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jonathan N. Rubin sold 17,443 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 43,890 shares in the company, valued at $4,216,512.30. The disclosure for this sale can be found here. Insiders have sold 95,863 shares of company stock worth $9,432,287 over the last ninety days. Insiders own 3.60% of the company’s stock.
MGLN has been the subject of several research reports. BidaskClub upgraded shares of Magellan Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. Leerink Swann upgraded shares of Magellan Health from a “market perform” rating to an “outperform” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Magellan Health from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. KeyCorp set a $105.00 price objective on shares of Magellan Health and gave the stock a “buy” rating in a research report on Friday, December 1st. Finally, Raymond James Financial restated a “hold” rating on shares of Magellan Health in a research report on Saturday, December 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $96.00.
Shares of Magellan Health Inc (NASDAQ MGLN) opened at $108.45 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2,600.00, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 1.21 and a beta of 0.49. Magellan Health Inc has a 1 year low of $64.05 and a 1 year high of $109.80.
Magellan Health (NASDAQ:MGLN) last announced its earnings results on Tuesday, February 27th. The company reported $2.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.26. Magellan Health had a net margin of 1.89% and a return on equity of 10.86%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm earned $1.80 earnings per share. The business’s revenue for the quarter was up 34.1% on a year-over-year basis. sell-side analysts anticipate that Magellan Health Inc will post 5.89 EPS for the current fiscal year.
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Magellan Health Company Profile
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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