BidaskClub Lowers Magellan Health (MGLN) to Sell

BidaskClub downgraded shares of Magellan Health (NASDAQ:MGLN) from a hold rating to a sell rating in a research note published on Thursday morning.

Several other research firms have also commented on MGLN. ValuEngine upgraded shares of Magellan Health from a strong sell rating to a sell rating in a report on Wednesday, November 28th. Zacks Investment Research upgraded shares of Magellan Health from a hold rating to a buy rating and set a $80.00 price target on the stock in a report on Tuesday, February 26th. Bank of America initiated coverage on shares of Magellan Health in a report on Friday, February 22nd. They issued a buy rating and a $84.00 price target on the stock. Finally, Stephens initiated coverage on shares of Magellan Health in a report on Monday, January 14th. They issued an equal weight rating and a $68.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Magellan Health currently has an average rating of Hold and a consensus target price of $74.80.

Shares of MGLN stock opened at $64.47 on Thursday. The stock has a market cap of $1.52 billion, a PE ratio of 26.42, a P/E/G ratio of 2.29 and a beta of 0.48. Magellan Health has a 1-year low of $51.88 and a 1-year high of $112.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.68 and a current ratio of 1.72.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings data on Thursday, February 28th. The company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($1.96). Magellan Health had a return on equity of 4.67% and a net margin of 0.33%. Analysts forecast that Magellan Health will post 2.78 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new stake in shares of Magellan Health during the fourth quarter valued at approximately $44,000. Financial Gravity Companies Inc. purchased a new stake in shares of Magellan Health during the fourth quarter valued at approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Magellan Health by 22.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,831 shares of the company’s stock valued at $104,000 after purchasing an additional 332 shares during the period. Pearl River Capital LLC purchased a new stake in shares of Magellan Health during the fourth quarter valued at approximately $132,000. Finally, Resources Investment Advisors Inc. purchased a new stake in shares of Magellan Health during the fourth quarter valued at approximately $193,000. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Magellan Health Company Profile

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.

Further Reading: What is the Gross Domestic Product (GDP)?

Receive News & Ratings for Magellan Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply