Insider Selling: Magellan Health (MGLN) CEO Sells $1,384,580.00 in Stock

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.

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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.

Insider Buying and Selling by Quarter for Magellan Health (NASDAQ:MGLN)

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