Magellan Health Services Inc. (NASDAQ:MGLN) – Equities researchers at Leerink Swann lifted their FY2016 earnings per share (EPS) estimates for shares of Magellan Health Services in a report issued on Tuesday. Leerink Swann analyst A. Gupte now expects that the brokerage will earn $3.20 per share for the year, up from their prior forecast of $2.45. Leerink Swann currently has a “Hold” rating on the stock. Leerink Swann also issued estimates for Magellan Health Services’ Q4 2016 earnings at $1.44 EPS and FY2017 earnings at $4.39 EPS.

Several other brokerages also recently weighed in on MGLN. Jefferies Group set a $76.00 target price on shares of Magellan Health Services and gave the company a “buy” rating in a research note on Saturday, October 15th. Barclays PLC boosted their target price on shares of Magellan Health Services from $61.00 to $69.00 and gave the company an “underweight” rating in a research note on Wednesday. Zacks Investment Research raised shares of Magellan Health Services from a “sell” rating to a “strong-buy” rating and set a $75.00 target price for the company in a research note on Saturday, November 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Magellan Health Services currently has an average rating of “Hold” and an average price target of $74.00.

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

Shares of Magellan Health Services (NASDAQ:MGLN) remained flat at $71.60 during mid-day trading on Thursday. 316,200 shares of the company were exchanged. The firm has a market capitalization of $1.66 billion, a P/E ratio of 25.03 and a beta of 0.48. The stock has a 50-day moving average of $57.30 and a 200 day moving average of $60.88. Magellan Health Services has a 12 month low of $49.50 and a 12 month high of $72.31.

Magellan Health Services (NASDAQ:MGLN) last issued its earnings results on Wednesday, November 9th. The company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.72. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Magellan Health Services had a net margin of 1.45% and a return on equity of 7.96%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC increased its position in Magellan Health Services by 30.2% in the second quarter. Chicago Equity Partners LLC now owns 35,940 shares of the company’s stock worth $2,364,000 after buying an additional 8,330 shares in the last quarter. First Midwest Bank Trust Division increased its position in Magellan Health Services by 47.8% in the second quarter. First Midwest Bank Trust Division now owns 9,353 shares of the company’s stock worth $615,000 after buying an additional 3,023 shares in the last quarter. Strs Ohio increased its position in Magellan Health Services by 4.4% in the second quarter. Strs Ohio now owns 16,500 shares of the company’s stock worth $1,085,000 after buying an additional 700 shares in the last quarter. Bank of Montreal Can bought a new position in Magellan Health Services during the second quarter worth approximately $3,462,000. Finally, Old Mutual Global Investors UK Ltd. bought a new position in Magellan Health Services during the second quarter worth approximately $3,593,000. 91.96% of the stock is owned by institutional investors.

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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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