Equities research analysts expect that Magellan Health Inc (NASDAQ:MGLN) will announce earnings of $1.41 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Magellan Health’s earnings, with the highest EPS estimate coming in at $1.45 and the lowest estimate coming in at $1.38. Magellan Health posted earnings per share of $2.55 during the same quarter last year, which suggests a negative year-over-year growth rate of 44.7%. The business is expected to announce its next quarterly earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that Magellan Health will report full-year earnings of $4.57 per share for the current year, with EPS estimates ranging from $4.56 to $4.60. For the next year, analysts forecast that the company will report earnings of $4.50 per share, with EPS estimates ranging from $4.28 to $4.89. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover Magellan Health.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings data on Wednesday, November 7th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.28. Magellan Health had a net margin of 1.49% and a return on equity of 10.93%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company earned $1.64 earnings per share. The firm’s quarterly revenue was up 30.6% on a year-over-year basis.
A number of brokerages have commented on MGLN. Zacks Investment Research raised shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, November 13th. ValuEngine raised shares of Magellan Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 28th. Leerink Swann cut shares of Magellan Health from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $90.00 to $70.00 in a report on Tuesday, November 13th. BidaskClub cut shares of Magellan Health from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Finally, Raymond James reduced their target price on shares of Magellan Health from $85.00 to $72.00 and set a “buy” rating for the company in a report on Monday, November 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Magellan Health has an average rating of “Hold” and a consensus target price of $83.33.
MGLN stock traded up $2.14 during midday trading on Friday, reaching $57.63. 999,455 shares of the company’s stock traded hands, compared to its average volume of 382,588. Magellan Health has a 52-week low of $51.88 and a 52-week high of $112.25. The stock has a market cap of $1.35 billion, a P/E ratio of 10.48, a P/E/G ratio of 1.54 and a beta of 0.47. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Smith Graham & Co. Investment Advisors LP increased its stake in shares of Magellan Health by 23.3% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 165,732 shares of the company’s stock worth $11,941,000 after purchasing an additional 31,272 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Magellan Health by 1.2% in the third quarter. Victory Capital Management Inc. now owns 566,012 shares of the company’s stock worth $40,781,000 after purchasing an additional 6,644 shares in the last quarter. Strs Ohio increased its stake in shares of Magellan Health by 9.4% in the third quarter. Strs Ohio now owns 15,200 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,300 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of Magellan Health by 19.3% in the second quarter. Systematic Financial Management LP now owns 15,895 shares of the company’s stock worth $1,525,000 after purchasing an additional 2,575 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Magellan Health by 490.0% in the third quarter. SG Americas Securities LLC now owns 83,837 shares of the company’s stock worth $6,040,000 after purchasing an additional 69,627 shares in the last quarter. 98.77% of the stock is owned by hedge funds and other institutional investors.
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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