Kennedy Capital Management Inc. reduced its holdings in shares of Magellan Health, Inc. (NASDAQ:MGLN) by 41.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 275,871 shares of the company’s stock after selling 191,812 shares during the quarter. Kennedy Capital Management Inc. owned 1.16% of Magellan Health worth $20,111,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MGLN. Louisiana State Employees Retirement System lifted its position in shares of Magellan Health by 3.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the company’s stock worth $663,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Magellan Health by 4.4% during the 1st quarter. State of Alaska Department of Revenue now owns 2,620 shares of the company’s stock worth $180,000 after buying an additional 110 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Magellan Health by 121.6% during the 1st quarter. Nationwide Fund Advisors now owns 95,559 shares of the company’s stock worth $6,598,000 after buying an additional 52,431 shares during the last quarter. Strs Ohio lifted its position in shares of Magellan Health by 2.0% during the 1st quarter. Strs Ohio now owns 15,100 shares of the company’s stock worth $1,042,000 after buying an additional 300 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Magellan Health by 8.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 32,715 shares of the company’s stock worth $2,256,000 after buying an additional 2,611 shares during the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

Several equities analysts have commented on the company. ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded Magellan Health from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Leerink Swann reiterated an “outperform” rating and issued a $73.00 target price (up from $68.00) on shares of Magellan Health in a research report on Sunday, June 25th. Zacks Investment Research upgraded Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Tuesday, July 18th. Finally, KeyCorp upgraded Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 target price for the company in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Magellan Health currently has an average rating of “Buy” and a consensus target price of $82.20.

Shares of Magellan Health, Inc. (NASDAQ:MGLN) traded down 0.06% during midday trading on Wednesday, hitting $80.00. The stock had a trading volume of 10,869 shares. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 22.78 and a beta of 0.57. Magellan Health, Inc. has a 1-year low of $49.50 and a 1-year high of $84.71. The firm’s 50-day moving average price is $77.89 and its 200-day moving average price is $72.28.

Magellan Health (NASDAQ:MGLN) last posted its earnings results on Friday, July 28th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by $0.48. Magellan Health had a return on equity of 8.88% and a net margin of 1.59%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company posted $0.58 EPS. The firm’s revenue was up 21.9% on a year-over-year basis. Analysts forecast that Magellan Health, Inc. will post $5.13 earnings per share for the current year.

In other Magellan Health news, General Counsel Daniel N. Gregoire sold 4,559 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $80.68, for a total transaction of $367,820.12. Following the transaction, the general counsel now owns 18,016 shares in the company, valued at approximately $1,453,530.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Daniel N. Gregoire sold 33,574 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $80.11, for a total value of $2,689,613.14. Following the transaction, the general counsel now owns 14,633 shares in the company, valued at approximately $1,172,249.63. The disclosure for this sale can be found here. Insiders have sold a total of 97,943 shares of company stock worth $7,846,757 in the last quarter. Company insiders own 3.60% of the company’s stock.

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Magellan Health 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).

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

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