Magellan Health Inc (MGLN) Stake Increased by Strs Ohio

Strs Ohio lifted its stake in shares of Magellan Health Inc (NASDAQ:MGLN) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,200 shares of the company’s stock after buying an additional 1,300 shares during the quarter. Strs Ohio’s holdings in Magellan Health were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Seven Eight Capital LP lifted its stake in Magellan Health by 48.2% in the third quarter. Seven Eight Capital LP now owns 15,705 shares of the company’s stock valued at $1,132,000 after buying an additional 5,105 shares during the last quarter. First Hawaiian Bank bought a new stake in Magellan Health in the third quarter valued at $305,000. DNB Asset Management AS lifted its stake in Magellan Health by 9.2% in the third quarter. DNB Asset Management AS now owns 44,000 shares of the company’s stock valued at $3,170,000 after buying an additional 3,700 shares during the last quarter. United Services Automobile Association lifted its stake in Magellan Health by 62.3% in the second quarter. United Services Automobile Association now owns 52,038 shares of the company’s stock valued at $4,993,000 after buying an additional 19,978 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Magellan Health by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 311,426 shares of the company’s stock valued at $29,882,000 after buying an additional 1,547 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ MGLN opened at $67.32 on Friday. Magellan Health Inc has a fifty-two week low of $61.83 and a fifty-two week high of $112.25. The company has a current ratio of 1.63, a quick ratio of 1.58 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1.60 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.46 and a beta of 0.52.

A number of research firms have issued reports on MGLN. Zacks Investment Research cut Magellan Health from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. BidaskClub cut shares of Magellan Health from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. Raymond James cut their price objective on shares of Magellan Health from $105.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, July 30th. Finally, ValuEngine cut shares of Magellan Health from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $99.33.

About Magellan Health

Magellan Health, Inc engages in the healthcare management business. It operates through the following segments: Healthcare, Pharmacy Management, and Corporate. The Healthcare segment comprises of the Commercial and Government reporting units. The Pharmacy Management segment offers products and solutions that provide clinical and financial management of pharmaceuticals paid under both the medical and the pharmacy benefit.The Corporate segment covers amounts not allocated to the Healthcare and Pharmacy Management segments.

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Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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