BidaskClub upgraded shares of Magellan Health (NASDAQ:MGLN) from a hold rating to a buy rating in a research report released on Monday morning.
MGLN has been the topic of a number of other research reports. ValuEngine upgraded Magellan Health from a strong sell rating to a sell rating in a report on Wednesday, November 28th. TheStreet downgraded Magellan Health from a b- rating to a c+ rating in a report on Friday, November 9th. Zacks Investment Research downgraded Magellan Health from a hold rating to a sell rating in a report on Saturday, October 13th. Leerink Swann downgraded Magellan Health from an outperform rating to a market perform rating and dropped their price objective for the company from $90.00 to $70.00 in a report on Tuesday, November 13th. Finally, Raymond James dropped their price objective on Magellan Health from $85.00 to $72.00 and set a buy rating on the stock in a report on Monday, November 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Magellan Health presently has an average rating of Hold and a consensus target price of $83.33.
Shares of MGLN traded down $0.07 during mid-day trading on Monday, reaching $60.63. The company’s stock had a trading volume of 5,598 shares, compared to its average volume of 348,444. Magellan Health has a 12-month low of $51.88 and a 12-month high of $112.25. The company has a market cap of $1.48 billion, a P/E ratio of 11.02, a PEG ratio of 1.84 and a beta of 0.33. 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 data on Wednesday, November 7th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.28. Magellan Health had a return on equity of 10.93% and a net margin of 1.49%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the business posted $1.64 EPS. The business’s revenue for the quarter was up 30.6% on a year-over-year basis. As a group, analysts predict that Magellan Health will post 3.61 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in MGLN. Marshall Wace LLP acquired a new stake in Magellan Health during the 3rd quarter worth approximately $792,000. Morgan Stanley lifted its position in Magellan Health by 207.6% during the 3rd quarter. Morgan Stanley now owns 215,544 shares of the company’s stock worth $15,531,000 after acquiring an additional 145,467 shares during the period. Legal & General Group Plc lifted its position in Magellan Health by 7.4% during the 3rd quarter. Legal & General Group Plc now owns 70,811 shares of the company’s stock worth $5,097,000 after acquiring an additional 4,882 shares during the period. BW Gestao de Investimentos Ltda. lifted its position in Magellan Health by 49.2% during the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 7,089 shares of the company’s stock worth $511,000 after acquiring an additional 2,339 shares during the period. Finally, AQR Capital Management LLC lifted its position in Magellan Health by 29.4% during the 3rd quarter. AQR Capital Management LLC now owns 135,850 shares of the company’s stock worth $9,788,000 after acquiring an additional 30,858 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.
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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