Magellan Health Inc (MGLN) Receives $82.33 Consensus Target Price from Brokerages

Shares of Magellan Health Inc (NASDAQ:MGLN) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $82.33.

A number of analysts have recently weighed in on the company. BidaskClub downgraded Magellan Health from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 31st. Zacks Investment Research downgraded Magellan Health from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st. Raymond James cut their target price on Magellan Health from $105.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, July 30th. ValuEngine downgraded Magellan Health from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 28th. Finally, TheStreet downgraded Magellan Health from a “b-” rating to a “c+” rating in a research report on Friday, November 9th.

Hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Magellan Health during the 2nd quarter worth $131,000. Verition Fund Management LLC bought a new stake in shares of Magellan Health during the 2nd quarter worth $248,000. Jane Street Group LLC bought a new stake in shares of Magellan Health during the 3rd quarter worth $220,000. Cubist Systematic Strategies LLC lifted its position in shares of Magellan Health by 60.4% during the 2nd 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 bought a new stake in shares of Magellan Health during the 3rd quarter worth $243,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

Shares of NASDAQ:MGLN traded down $0.28 during trading on Friday, reaching $54.16. 77,855 shares of the company traded hands, compared to its average volume of 402,674. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.51 and a beta of 0.52. 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 has a 52 week low of $52.32 and a 52 week high of $112.25.

Magellan Health (NASDAQ:MGLN) last released its earnings results on Wednesday, November 7th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.28. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. Magellan Health had a return on equity of 10.93% and a net margin of 1.49%. The company’s revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. Research analysts predict that Magellan Health will post 3.61 EPS for the current fiscal year.

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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