Magellan Health Services Inc. (NASDAQ:MGLN) – Stock analysts at KeyCorp raised their FY2016 earnings per share estimates for Magellan Health Services in a report released on Wednesday. KeyCorp analyst J. Twizell now forecasts that the firm will earn $3.15 per share for the year, up from their previous estimate of $2.41. KeyCorp also issued estimates for Magellan Health Services’ Q4 2016 earnings at $1.42 EPS, FY2017 earnings at $3.74 EPS and FY2018 earnings at $4.09 EPS.

Magellan Health Services (NASDAQ:MGLN) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.67 by $0.72. The company earned $1.29 billion during the quarter, compared to analyst estimates of $1.22 billion. Magellan Health Services had a net margin of 1.45% and a return on equity of 7.96%. Magellan Health Services’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 earnings per share.

Earnings History and Estimates for Magellan Health Services (NASDAQ:MGLN)

Other research analysts also recently issued reports about the company. Jefferies Group set a $76.00 price objective on Magellan Health Services and gave the company a “buy” rating in a research note on Saturday, October 15th. Zacks Investment Research raised Magellan Health Services from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Thursday, July 21st. Leerink Swann reissued a “hold” rating on shares of Magellan Health Services in a research note on Friday, August 12th. Finally, TheStreet downgraded 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 assigned a buy rating and one has given a strong buy rating to the company. Magellan Health Services has a consensus rating of “Hold” and an average target price of $70.67.

Magellan Health Services (NASDAQ:MGLN) opened at 65.00 on Monday. The firm’s 50-day moving average is $54.83 and its 200 day moving average is $60.83. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 22.72 and a beta of 0.48. Magellan Health Services has a 1-year low of $49.14 and a 1-year high of $72.31.

A number of hedge funds have recently modified their holdings of MGLN. Acrospire Investment Management LLC boosted its stake in shares of Magellan Health Services by 18.5% in the second quarter. Acrospire Investment Management LLC now owns 2,568 shares of the company’s stock valued at $169,000 after buying an additional 400 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Magellan Health Services by 275.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,000 shares of the company’s stock valued at $197,000 after buying an additional 2,200 shares during the last quarter. PineBridge Investments L.P. boosted its stake in shares of Magellan Health Services by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,122 shares of the company’s stock valued at $205,000 after buying an additional 116 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Magellan Health Services during the third quarter valued at about $208,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of 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 valued at $221,000 after buying an additional 288 shares during the last quarter. Institutional investors own 91.91% of the company’s stock.

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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