Systematic Financial Management LP Sells 5,535 Shares of Magellan Health Inc (NASDAQ:MGLN)

Systematic Financial Management LP trimmed its holdings in shares of Magellan Health Inc (NASDAQ:MGLN) by 28.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 14,170 shares of the company’s stock after selling 5,535 shares during the quarter. Systematic Financial Management LP’s holdings in Magellan Health were worth $1,052,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Mason Street Advisors LLC boosted its holdings in shares of Magellan Health by 2.0% during the 1st quarter. Mason Street Advisors LLC now owns 7,684 shares of the company’s stock worth $507,000 after buying an additional 152 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Magellan Health by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,393 shares of the company’s stock worth $619,000 after buying an additional 170 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in shares of Magellan Health by 4.3% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,029 shares of the company’s stock worth $397,000 after buying an additional 251 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Magellan Health by 5.2% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,100 shares of the company’s stock worth $453,000 after buying an additional 300 shares in the last quarter. Finally, Texas Permanent School Fund boosted its holdings in shares of Magellan Health by 2.4% during the 1st quarter. Texas Permanent School Fund now owns 16,245 shares of the company’s stock worth $1,071,000 after buying an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 98.09% of the company’s stock.

Shares of NASDAQ:MGLN traded down $0.54 during trading on Friday, reaching $68.98. 129,414 shares of the stock were exchanged, compared to its average volume of 324,613. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.66 and a current ratio of 1.71. Magellan Health Inc has a 1-year low of $51.88 and a 1-year high of $77.15. The stock has a fifty day moving average price of $69.85. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 0.72 and a beta of 0.56.

Magellan Health (NASDAQ:MGLN) last issued its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Magellan Health had a return on equity of 3.68% and a net margin of 0.18%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company earned $0.92 earnings per share. Magellan Health’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts anticipate that Magellan Health Inc will post 3.96 earnings per share for the current fiscal year.

MGLN has been the topic of a number of research analyst reports. BidaskClub upgraded Magellan Health from a “sell” rating to a “hold” rating in a report on Saturday, July 27th. ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $74.80.

Magellan Health Company Profile

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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Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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