Magellan Health (NASDAQ:MGLN)‘s stock had its “equal weight” rating restated by Stephens in a report issued on Monday, The Fly reports. They presently have a $67.00 target price on the stock, up from their previous target price of $65.00. Stephens’ price target would indicate a potential downside of 7.71% from the stock’s current price.
MGLN has been the topic of several other research reports. ValuEngine lowered Magellan Health from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. BidaskClub raised Magellan Health from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Magellan Health presently has an average rating of “Hold” and a consensus target price of $77.00.
Shares of NASDAQ:MGLN traded up $2.00 during trading on Monday, hitting $72.60. 184,500 shares of the stock were exchanged, compared to its average volume of 261,037. The company has a fifty day moving average price of $63.67 and a two-hundred day moving average price of $66.44. The company has a market cap of $1.70 billion, a PE ratio of 29.75, a P/E/G ratio of 0.85 and a beta of 0.60. The company has a current ratio of 1.70, a quick ratio of 1.65 and a debt-to-equity ratio of 0.51. Magellan Health has a 12-month low of $51.88 and a 12-month high of $75.87.
Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.08). The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Magellan Health had a return on equity of 3.21% and a net margin of 0.10%. Magellan Health’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $1.45 EPS. Equities research analysts anticipate that Magellan Health will post 3.58 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of MGLN. Oregon Public Employees Retirement Fund raised its holdings in Magellan Health by 2.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,593 shares of the company’s stock valued at $712,000 after acquiring an additional 200 shares during the last quarter. Parallel Advisors LLC raised its holdings in Magellan Health by 221.0% in the 2nd quarter. Parallel Advisors LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 263 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Magellan Health by 5.2% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,100 shares of the company’s stock valued at $453,000 after acquiring an additional 300 shares during the last quarter. Arizona State Retirement System raised its holdings in Magellan Health by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 37,297 shares of the company’s stock valued at $2,769,000 after acquiring an additional 389 shares during the last quarter. Finally, Knuff & Co LLC acquired a new position in Magellan Health in the 3rd quarter valued at $25,000. 97.16% of the stock is currently owned by hedge funds and other institutional investors.
Magellan Health Company Profile
Magellan Health, Inc provides healthcare management services in the United States. The company 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.
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