Magellan Health, Inc. (MGLN) CEO Mostafa Kamal Sells 670 Shares of Stock
Magellan Health, Inc. (NASDAQ:MGLN) CEO Mostafa Kamal sold 670 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $83.00, for a total value of $55,610.00. Following the sale, the chief executive officer now owns 670 shares of the company’s stock, valued at approximately $55,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Mostafa Kamal also recently made the following trade(s):
- On Friday, September 8th, Mostafa Kamal sold 6,267 shares of Magellan Health stock. The stock was sold at an average price of $81.53, for a total value of $510,948.51.
- On Thursday, September 7th, Mostafa Kamal sold 2,190 shares of Magellan Health stock. The stock was sold at an average price of $81.07, for a total value of $177,543.30.
Shares of Magellan Health, Inc. (MGLN) opened at 82.90 on Wednesday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 23.60 and a beta of 0.57. Magellan Health, Inc. has a 52-week low of $49.50 and a 52-week high of $84.71. The stock has a 50 day moving average of $78.12 and a 200-day moving average of $72.39.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings data on Friday, July 28th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.48). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Magellan Health had a return on equity of 8.88% and a net margin of 1.59%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the business posted $0.58 earnings per share. Equities analysts expect that Magellan Health, Inc. will post $5.13 earnings per share for the current fiscal year.
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A number of brokerages have recently issued reports on MGLN. Leerink Swann restated an “outperform” rating and set a $73.00 price objective (up previously from $68.00) on shares of Magellan Health in a report on Sunday, June 25th. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a research 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 for the company in a research report on Tuesday, July 18th. BidaskClub downgraded shares of Magellan Health from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, KeyCorp upgraded shares of Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price target 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 given a hold rating and six have given a buy rating to the company’s stock. Magellan Health has a consensus rating of “Buy” and an average target price of $82.20.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGLN. BlackRock Inc. boosted its holdings in Magellan Health by 53,778.2% in the 1st quarter. BlackRock Inc. now owns 3,012,867 shares of the company’s stock worth $208,038,000 after buying an additional 3,007,275 shares during the period. LSV Asset Management bought a new position in Magellan Health in the 2nd quarter worth approximately $44,282,000. Hood River Capital Management LLC bought a new position in Magellan Health in the 2nd quarter worth approximately $25,387,000. Renaissance Technologies LLC boosted its holdings in Magellan Health by 11.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,213,099 shares of the company’s stock worth $83,764,000 after buying an additional 122,999 shares during the period. Finally, Thrivent Financial For Lutherans boosted its holdings in Magellan Health by 81.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 228,546 shares of the company’s stock worth $16,661,000 after buying an additional 102,736 shares during the period. 93.54% of the stock is owned by institutional investors.
About Magellan Health
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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