Great West Life Assurance Co. Can raised its stake in shares of Magellan Health Services Inc. (NASDAQ:MGLN) by 2.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,639 shares of the company’s stock after buying an additional 690 shares during the period. Great West Life Assurance Co. Can owned 0.14% of Magellan Health Services worth $1,807,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MGLN. PineBridge Investments L.P. increased 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 worth $205,000 after buying an additional 116 shares in the last quarter. Oak Associates Ltd. OH increased its position in Magellan Health Services by 2.4% in the second quarter. Oak Associates Ltd. OH now owns 6,885 shares of the company’s stock worth $453,000 after buying an additional 160 shares in the last quarter. Eqis Capital Management Inc. increased its position in Magellan Health Services by 3.3% in the second quarter. Eqis Capital Management Inc. now owns 5,865 shares of the company’s stock worth $386,000 after buying an additional 188 shares in the last quarter. Arizona State Retirement System increased its position in Magellan Health Services by 1.6% in the second quarter. Arizona State Retirement System now owns 12,812 shares of the company’s stock worth $843,000 after buying an additional 200 shares in the last quarter. Finally, Teacher Retirement System of Texas increased 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 worth $221,000 after buying an additional 288 shares in the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Magellan Health Services (NASDAQ:MGLN)

Shares of Magellan Health Services Inc. (NASDAQ:MGLN) traded down 0.62% during midday trading on Monday, reaching $71.95. The company had a trading volume of 470,949 shares. The company has a 50 day moving average of $58.43 and a 200 day moving average of $60.87. Magellan Health Services Inc. has a 12-month low of $49.50 and a 12-month high of $72.85. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 25.15 and a beta of 0.48.

Magellan Health Services (NASDAQ:MGLN) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.72. The business 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 7.96% and a net margin of 1.45%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. Analysts anticipate that Magellan Health Services Inc. will post $3.11 EPS for the current year.

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A number of equities research analysts have recently commented on the company. Jefferies Group set a $76.00 target price on Magellan Health Services and gave the stock a “buy” rating in a research note on Saturday, October 15th. Leerink Swann reiterated a “hold” rating on shares of Magellan Health Services in a research note on Friday, August 12th. Barclays PLC lifted their target price on Magellan Health Services from $61.00 to $69.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 23rd. Zacks Investment Research upgraded Magellan Health Services from a “sell” rating to a “strong-buy” rating and set a $75.00 target price on the stock in a research note on Saturday, November 12th. Finally, TheStreet cut 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 assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $75.00.

About Magellan Health Services

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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