FY2016 EPS Estimates for Magellan Health Services Inc. (MGLN) Raised by Analyst
Magellan Health Services Inc. (NASDAQ:MGLN) – Analysts at Jefferies Group boosted their FY2016 earnings estimates for shares of Magellan Health Services in a research report issued on Wednesday. Jefferies Group analyst D. Styblo now anticipates that the brokerage will post earnings per share of $3.03 for the year, up from their prior estimate of $2.32. Jefferies Group has a “Buy” rating and a $76.00 price target on the stock. Jefferies Group also issued estimates for Magellan Health Services’ Q4 2016 earnings at $1.29 EPS, Q4 2017 earnings at $1.17 EPS, FY2017 earnings at $3.62 EPS and FY2018 earnings at $4.13 EPS.
Magellan Health Services (NASDAQ:MGLN) last issued its earnings results on Wednesday, November 9th. The company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.72. The company earned $1.29 billion during the quarter, compared to the consensus estimate of $1.22 billion. Magellan Health Services had a return on equity of 7.89% and a net margin of 1.45%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.76 EPS.
MGLN has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Magellan Health Services from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Leerink Swann reissued a “hold” rating on shares of Magellan Health Services in a research note on Friday, August 12th. Finally, TheStreet downgraded shares of Magellan Health Services from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $70.67.
Shares of Magellan Health Services (NASDAQ:MGLN) opened at 64.80 on Friday. The stock has a 50 day moving average price of $54.20 and a 200 day moving average price of $61.05. The firm has a market capitalization of $1.59 billion, a P/E ratio of 44.08 and a beta of 0.48. Magellan Health Services has a 52 week low of $49.50 and a 52 week high of $72.31.
Hedge funds have recently bought and sold shares of the company. KCG Holdings Inc. increased its stake in Magellan Health Services by 127.5% in the third quarter. KCG Holdings Inc. now owns 15,012 shares of the company’s stock valued at $807,000 after buying an additional 8,414 shares in the last quarter. Morgan Stanley increased its position in shares of Magellan Health Services by 2.3% in the third quarter. Morgan Stanley now owns 155,553 shares of the company’s stock valued at $8,358,000 after buying an additional 3,554 shares during the period. Paradigm Capital Management Inc. NY increased its position in shares of Magellan Health Services by 22.6% in the third quarter. Paradigm Capital Management Inc. NY now owns 68,800 shares of the company’s stock valued at $3,697,000 after buying an additional 12,700 shares during the period. Principal Financial Group Inc. increased its position in shares of Magellan Health Services by 3.7% in the third quarter. Principal Financial Group Inc. now owns 186,119 shares of the company’s stock valued at $10,001,000 after buying an additional 6,645 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Magellan Health Services during the third quarter valued at approximately $208,000. 89.38% of the stock is owned by institutional investors and hedge funds.
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).
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