Magellan Health Services Inc. (NASDAQ:MGLN) had its target price boosted by Barclays PLC from $61.00 to $69.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “underweight” rating on the stock. Barclays PLC’s price target would suggest a potential downside of 3.63% from the company’s current price.

Several other brokerages also recently issued reports on MGLN. Jefferies Group restated a “buy” rating and issued a $78.00 price target on shares of Magellan Health Services in a report on Friday, November 18th. Zacks Investment Research upgraded Magellan Health Services from a “sell” rating to a “strong-buy” rating and set a $75.00 price objective for the company in a report on Saturday, November 12th. Leerink Swann reiterated a “hold” rating on shares of Magellan Health Services in a report on Friday, August 12th. Finally, TheStreet downgraded Magellan Health Services from a “buy” rating to a “hold” rating in a report 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 assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $74.00.

Magellan Health Services (NASDAQ:MGLN) opened at 71.60 on Wednesday. The company has a market capitalization of $1.66 billion, a P/E ratio of 25.03 and a beta of 0.48. The firm has a 50-day moving average price of $57.30 and a 200 day moving average price 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 announced its quarterly earnings results on Wednesday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.72. Magellan Health Services had a return on equity of 7.96% and a net margin of 1.45%. The company earned $1.29 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts expect that Magellan Health Services will post $2.97 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of MGLN. UBS Group AG boosted its position in shares of Magellan Health Services by 35.2% in the first quarter. UBS Group AG now owns 16,709 shares of the company’s stock valued at $1,135,000 after buying an additional 4,348 shares during the period. Oxford Asset Management bought a new position in shares of Magellan Health Services during the second quarter valued at approximately $2,114,000. Alambic Investment Management L.P. boosted its position in shares of Magellan Health Services by 248.5% in the second quarter. Alambic Investment Management L.P. now owns 24,010 shares of the company’s stock valued at $1,579,000 after buying an additional 17,120 shares during the period. Bank of Montreal Can bought a new position in shares of Magellan Health Services during the second quarter valued at approximately $3,462,000. Finally, Vanguard Group Inc. boosted its position in shares of Magellan Health Services by 3.2% in the second quarter. Vanguard Group Inc. now owns 2,021,907 shares of the company’s stock valued at $132,981,000 after buying an additional 61,913 shares during the period. 91.96% of the stock is owned by hedge funds and other 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).

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