Brandywine Global Investment Management LLC lowered its position in Magellan Health (NASDAQ:MGLN) by 12.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,272 shares of the company’s stock after selling 11,017 shares during the period. Brandywine Global Investment Management LLC owned 0.32% of Magellan Health worth $7,365,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Thrivent Financial For Lutherans raised its position in shares of Magellan Health by 12.2% in the 4th quarter. Thrivent Financial For Lutherans now owns 122,999 shares of the company’s stock worth $11,876,000 after acquiring an additional 13,413 shares in the last quarter. AXA raised its position in shares of Magellan Health by 84.2% in the 4th quarter. AXA now owns 94,718 shares of the company’s stock worth $9,145,000 after acquiring an additional 43,306 shares in the last quarter. USA Financial Portformulas Corp bought a new position in shares of Magellan Health in the 4th quarter worth approximately $419,000. Bogle Investment Management L P DE bought a new position in shares of Magellan Health in the 4th quarter worth approximately $2,075,000. Finally, Mackenzie Financial Corp bought a new position in shares of Magellan Health in the 4th quarter worth approximately $4,113,000. 97.32% of the stock is owned by hedge funds and other institutional investors.
Shares of Magellan Health stock traded down $2.65 during midday trading on Friday, hitting $107.05. The company had a trading volume of 123,778 shares, compared to its average volume of 159,238. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $2,668.36, a P/E ratio of 19.46, a PEG ratio of 1.16 and a beta of 0.50. Magellan Health has a 52-week low of $66.00 and a 52-week high of $110.10.
Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.26. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.62 billion. Magellan Health had a return on equity of 10.86% and a net margin of 1.89%. The firm’s quarterly revenue was up 34.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.80 EPS. equities analysts expect that Magellan Health will post 6.32 EPS for the current year.
In other Magellan Health news, CEO Mostafa Kamal sold 15,428 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $99.04, for a total transaction of $1,527,989.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Barry M. Smith sold 13,375 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $101.20, for a total value of $1,353,550.00. Following the sale, the chief executive officer now owns 42,807 shares in the company, valued at $4,332,068.40. The disclosure for this sale can be found here. Insiders sold a total of 78,428 shares of company stock worth $7,858,688 in the last 90 days. 3.60% of the stock is currently owned by company insiders.
Several brokerages have recently issued reports on MGLN. Zacks Investment Research raised Magellan Health from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Thursday, March 22nd. ValuEngine raised Magellan Health from a “buy” rating to a “strong-buy” rating in a research report on Friday. BidaskClub upgraded Magellan Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 17th. Finally, Leerink Swann upgraded Magellan Health from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 15th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $97.50.
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Magellan Health Profile
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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