Magellan Health (NASDAQ:MGLN) Stock Rating Upgraded by ValuEngine

Magellan Health (NASDAQ:MGLN) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, ValuEngine reports.

Separately, BidaskClub upgraded Magellan Health from a “sell” rating to a “hold” rating in a research report on Friday, May 1st.

Shares of NASDAQ:MGLN opened at $70.35 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $71.30 and its 200 day moving average price is $65.89. The company has a market cap of $1.73 billion, a PE ratio of 23.53, a P/E/G ratio of 1.23 and a beta of 1.20. Magellan Health has a fifty-two week low of $30.60 and a fifty-two week high of $81.04.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Monday, May 11th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.72 by $0.43. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. Magellan Health had a net margin of 1.02% and a return on equity of 8.02%. Magellan Health’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. As a group, equities analysts anticipate that Magellan Health will post 3.1 EPS for the current year.

In related news, COO James E. Murray acquired 4,500 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $67.63 per share, for a total transaction of $304,335.00. Following the completion of the acquisition, the chief operating officer now directly owns 4,500 shares of the company’s stock, valued at approximately $304,335. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jeffrey N. West sold 1,415 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $78.50, for a total transaction of $111,077.50. Following the transaction, the senior vice president now owns 24,430 shares in the company, valued at approximately $1,917,755. The disclosure for this sale can be found here. Corporate insiders own 14.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd lifted its holdings in Magellan Health by 4,800.0% in the 4th quarter. Point72 Hong Kong Ltd now owns 343 shares of the company’s stock valued at $27,000 after acquiring an additional 336 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Magellan Health by 21.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 949 shares of the company’s stock worth $46,000 after purchasing an additional 166 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Magellan Health during the first quarter valued at approximately $73,000. PNC Financial Services Group Inc. boosted its holdings in Magellan Health by 18.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the company’s stock worth $114,000 after buying an additional 221 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in Magellan Health in the fourth quarter worth approximately $167,000. 99.32% of the stock is owned by institutional investors and hedge funds.

About Magellan Health

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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