Magellan Health (MGLN) Issues FY 2019 Earnings Guidance

Magellan Health (NASDAQ:MGLN) issued an update on its FY 2019 earnings guidance on Friday morning. The company provided EPS guidance of $3.70-4.69 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.50. The company issued revenue guidance of $7.2-7.5 billion, compared to the consensus revenue estimate of $7.11 billion.Magellan Health also updated its FY19 guidance to $3.70-4.69 EPS.

Several research analysts have weighed in on the company. TheStreet downgraded Magellan Health from a b- rating to a c+ rating in a research note on Friday, November 9th. BidaskClub downgraded Magellan Health from a strong-buy rating to a buy rating in a research report on Friday, August 31st. Zacks Investment Research downgraded Magellan Health from a hold rating to a sell rating in a research report on Saturday, October 13th. Leerink Swann downgraded Magellan Health from an outperform rating to a market perform rating and lowered their target price for the company from $90.00 to $70.00 in a research report on Tuesday, November 13th. Finally, ValuEngine downgraded Magellan Health from a sell rating to a strong sell rating in a research report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $83.33.

NASDAQ:MGLN traded up $1.52 during midday trading on Friday, hitting $57.01. 6,999 shares of the company traded hands, compared to its average volume of 375,676. Magellan Health has a 12-month low of $51.88 and a 12-month high of $112.25. The firm has a market capitalization of $1.34 billion, a PE ratio of 10.36, a PEG ratio of 1.53 and a beta of 0.47. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 1.72.

Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Wednesday, November 7th. The company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.28. Magellan Health had a return on equity of 10.93% and a net margin of 1.49%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. Magellan Health’s quarterly revenue was up 30.6% compared to the same quarter last year. Equities analysts forecast that Magellan Health will post 3.61 EPS for the current year.

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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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