Analysts expect that Magellan Health Inc (NASDAQ:MGLN) will post earnings per share of $1.37 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Magellan Health’s earnings, with estimates ranging from $1.35 to $1.41. Magellan Health posted earnings of $1.64 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.5%. The company is expected to announce its next earnings report before the market opens on Wednesday, November 7th.
According to Zacks, analysts expect that Magellan Health will report full year earnings of $5.40 per share for the current fiscal year, with EPS estimates ranging from $5.39 to $5.42. For the next fiscal year, analysts anticipate that the company will post earnings of $6.13 per share, with EPS estimates ranging from $6.04 to $6.21. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Magellan Health.
Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Friday, July 27th. The company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.15). Magellan Health had a return on equity of 11.29% and a net margin of 1.66%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The firm’s quarterly revenue was up 27.6% on a year-over-year basis.
Shares of NASDAQ MGLN traded down $0.81 during mid-day trading on Friday, reaching $63.36. The company had a trading volume of 191,571 shares, compared to its average volume of 251,402. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.58 and a current ratio of 1.63. Magellan Health has a one year low of $61.83 and a one year high of $112.25. The stock has a market capitalization of $1.56 billion, a P/E ratio of 11.04, a PEG ratio of 1.42 and a beta of 0.37.
A number of large investors have recently added to or reduced their stakes in MGLN. FMR LLC boosted its stake in Magellan Health by 45.9% in the second quarter. FMR LLC now owns 2,180,301 shares of the company’s stock valued at $209,200,000 after buying an additional 685,962 shares in the last quarter. BlackRock Inc. boosted its stake in Magellan Health by 8.1% in the second quarter. BlackRock Inc. now owns 3,473,848 shares of the company’s stock valued at $333,316,000 after buying an additional 260,040 shares in the last quarter. Brown Advisory Inc. acquired a new stake in Magellan Health in the second quarter valued at about $20,869,000. Victory Capital Management Inc. boosted its stake in Magellan Health by 33.9% in the second quarter. Victory Capital Management Inc. now owns 559,368 shares of the company’s stock valued at $53,672,000 after buying an additional 141,628 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Magellan Health in the second quarter valued at about $8,462,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.
Magellan Health Company Profile
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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