Shares of Magellan Health Services Inc. (NASDAQ:MGLN) have been assigned an average rating of “Hold” from the six analysts that are presently covering the stock. One research 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. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $70.67.

Several equities research analysts have recently commented on MGLN shares. Zacks Investment Research raised Magellan Health Services from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Thursday, July 21st. Leerink Swann reaffirmed a “hold” rating on shares of Magellan Health Services in a research note on Friday, August 12th. TheStreet cut Magellan Health Services from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $76.00 price objective (down from $86.00) on shares of Magellan Health Services in a research note on Monday, September 26th.

Shares of Magellan Health Services (NASDAQ:MGLN) traded up 1.31% during midday trading on Wednesday, reaching $65.85. The company had a trading volume of 106,598 shares. The firm has a market cap of $1.53 billion, a P/E ratio of 23.02 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. The company’s 50-day moving average is $54.83 and its 200-day moving average is $60.83.

Magellan Health Services (NASDAQ:MGLN) last released 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 analysts’ expectations of $1.22 billion. Magellan Health Services had a return on equity of 7.96% and a net margin of 1.45%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. Equities research analysts expect that Magellan Health Services will post $2.78 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC raised its position in 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 in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in 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 in the last quarter. PineBridge Investments L.P. raised 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 valued at $205,000 after buying an additional 116 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Magellan Health Services during the third quarter valued at $208,000. Finally, Teacher Retirement System of Texas raised 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 valued at $221,000 after buying an additional 288 shares in the last quarter. Hedge funds and other 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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