Magellan Health Services Inc. (NASDAQ:MGLN) has been assigned an average rating of “Hold” from the six brokerages that are covering the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $68.50.

A number of research firms have issued reports on MGLN. Zacks Investment Research lowered shares of Magellan Health Services from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Jefferies Group reiterated a “buy” rating and set a $76.00 target price (down from $86.00) on shares of Magellan Health Services in a report on Monday, September 26th. Leerink Swann reissued a “hold” rating on shares of Magellan Health Services in a research report on Friday, August 12th. KeyCorp began coverage on shares of Magellan Health Services in a research report on Thursday, June 30th. They issued an “equal weight” rating on the stock. Finally, TheStreet downgraded shares of Magellan Health Services from a “buy” rating to a “hold” rating in a research report on Friday, August 19th.

Magellan Health Services (NASDAQ:MGLN) traded down 0.42% during midday trading on Wednesday, hitting $54.17. 73,176 shares of the stock traded hands. The company has a 50-day moving average price of $54.66 and a 200 day moving average price of $63.41. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 36.85 and a beta of 0.49. Magellan Health Services has a one year low of $45.40 and a one year high of $72.31.

Magellan Health Services (NASDAQ:MGLN) last released its earnings results on Friday, July 29th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.04. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Magellan Health Services had a return on equity of 6.33% and a net margin of 0.77%. Magellan Health Services’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. Equities research analysts anticipate that Magellan Health Services will post $2.38 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PineBridge Investments L.P. increased its position in Magellan Health Services by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,122 shares of the company’s stock worth $205,000 after buying an additional 116 shares during the period. Oak Associates Ltd. OH increased its position in Magellan Health Services by 2.4% in the second quarter. Oak Associates Ltd. OH now owns 6,885 shares of the company’s stock worth $453,000 after buying an additional 160 shares during the period. Eqis Capital Management Inc. increased its position in Magellan Health Services by 3.3% in the second quarter. Eqis Capital Management Inc. now owns 5,865 shares of the company’s stock worth $386,000 after buying an additional 188 shares during the period. Arizona State Retirement System increased its position in Magellan Health Services by 1.6% in the second quarter. Arizona State Retirement System now owns 12,812 shares of the company’s stock worth $843,000 after buying an additional 200 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Magellan Health Services by 9.4% in the second quarter. Teacher Retirement System of Texas now owns 3,364 shares of the company’s stock worth $221,000 after buying an additional 288 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Magellan Health Services Company Profile

Magellan Health, Inc is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC).

5 Day Chart for NASDAQ:MGLN

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