Magellan Health, Inc. (MGLN) CEO Sells $177,543.30 in Stock
Magellan Health, Inc. (NASDAQ:MGLN) CEO Mostafa Kamal sold 2,190 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $81.07, for a total transaction of $177,543.30. Following the completion of the transaction, the chief executive officer now owns 157 shares in the company, valued at $12,727.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Magellan Health, Inc. (NASDAQ MGLN) opened at 81.95 on Monday. Magellan Health, Inc. has a 1-year low of $49.50 and a 1-year high of $84.71. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 23.33 and a beta of 0.57. The company has a 50-day moving average of $78.03 and a 200-day moving average of $72.47.
Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by $0.48. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Magellan Health had a return on equity of 8.88% and a net margin of 1.59%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. On average, equities research analysts expect that Magellan Health, Inc. will post $5.13 EPS for the current fiscal year.
A number of research analysts have recently commented on the stock. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Tuesday, July 18th. BidaskClub upgraded shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. KeyCorp upgraded shares of Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price target on the stock in a report on Thursday, July 13th. Finally, Leerink Swann restated an “outperform” rating and issued a $73.00 price target (up from $68.00) on shares of Magellan Health in a report on Sunday, June 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Magellan Health has a consensus rating of “Buy” and an average price target of $82.20.
Several large investors have recently modified their holdings of MGLN. Ameritas Investment Partners Inc. acquired a new stake in shares of Magellan Health during the 1st quarter worth about $136,000. Advisory Services Network LLC acquired a new position in Magellan Health in the 2nd quarter valued at about $165,000. State of Alaska Department of Revenue grew its position in Magellan Health by 4.4% in the 1st quarter. State of Alaska Department of Revenue now owns 2,620 shares of the company’s stock valued at $180,000 after acquiring an additional 110 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in Magellan Health in the 2nd quarter valued at about $210,000. Finally, HighTower Advisors LLC acquired a new position in Magellan Health in the 2nd quarter valued at about $210,000. 93.54% of the stock is owned by hedge funds and other institutional investors.
Magellan Health 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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