Magellan Health (NASDAQ:MGLN) CEO Barry M. Smith sold 13,375 shares of the firm’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $103.52, for a total transaction of $1,384,580.00. Following the sale, the chief executive officer now owns 57,605 shares of the company’s stock, valued at $5,963,269.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of MGLN stock opened at $107.05 on Friday. Magellan Health has a 52 week low of $66.00 and a 52 week high of $110.10. The company has a market capitalization of $2,624.57, a PE ratio of 19.46, a P/E/G ratio of 1.14 and a beta of 0.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.66 and a quick ratio of 1.62.
Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.26. Magellan Health had a net margin of 1.89% and a return on equity of 10.86%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the business posted $1.80 earnings per share. The business’s revenue for the quarter was up 34.1% on a year-over-year basis. equities research analysts anticipate that Magellan Health will post 6.32 EPS for the current fiscal year.
A number of analysts have weighed in on MGLN shares. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub lowered shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 19th. Zacks Investment Research upgraded shares of Magellan Health from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research note on Thursday, March 22nd. Finally, Leerink Swann upgraded shares of Magellan Health from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 15th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Magellan Health currently has a consensus rating of “Buy” and a consensus target price of $97.50.
Hedge funds have recently made changes to their positions in the company. Gotham Asset Management LLC bought a new stake in shares of Magellan Health in the fourth quarter worth approximately $201,000. Shelton Capital Management bought a new stake in shares of Magellan Health in the fourth quarter worth approximately $205,000. Xact Kapitalforvaltning AB purchased a new position in shares of Magellan Health in the fourth quarter worth approximately $275,000. CIBC Asset Management Inc purchased a new position in shares of Magellan Health in the fourth quarter worth approximately $291,000. Finally, Meadow Creek Investment Management LLC boosted its holdings in shares of Magellan Health by 20.8% in the fourth quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the company’s stock worth $330,000 after buying an additional 588 shares during the last quarter. Hedge funds and other institutional investors own 97.32% of the company’s stock.
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About Magellan Health
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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