Magellan Health Inc (NASDAQ:MGLN) reached a new 52-week low on Thursday . The company traded as low as $51.88 and last traded at $54.70, with a volume of 27106 shares trading hands. The stock had previously closed at $55.15.
A number of equities research analysts have recently weighed in on MGLN shares. ValuEngine raised Magellan Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 28th. Raymond James cut their price target on Magellan Health from $85.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, November 12th. Zacks Investment Research raised Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, November 13th. BidaskClub cut Magellan Health from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Finally, Leerink Swann cut Magellan Health from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $90.00 to $70.00 in a report on Tuesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.33.
The firm has a market capitalization 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 quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.55.
Magellan Health (NASDAQ:MGLN) last announced its earnings results on Wednesday, November 7th. The company reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.28. Magellan Health had a return on equity of 10.93% and a net margin of 1.49%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Magellan Health Inc will post 3.61 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new stake in Magellan Health during the second quarter worth approximately $131,000. Verition Fund Management LLC acquired a new position in Magellan Health in the second quarter worth approximately $248,000. Jane Street Group LLC acquired a new position in Magellan Health in the third quarter worth approximately $220,000. Cubist Systematic Strategies LLC grew its position in Magellan Health by 60.4% in the second quarter. Cubist Systematic Strategies LLC now owns 3,180 shares of the company’s stock worth $305,000 after buying an additional 1,197 shares during the last quarter. Finally, Jefferies Group LLC acquired a new position in Magellan Health in the third quarter worth approximately $243,000. 98.77% of the stock is currently owned by hedge funds and other institutional investors.
Magellan Health Company Profile (NASDAQ:MGLN)
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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