Magellan Health, Inc. (NASDAQ:MGLN) CEO Mostafa Kamal sold 2,961 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $84.00, for a total transaction of $248,724.00. Following the completion of the transaction, the chief executive officer now directly owns 2,961 shares of the company’s stock, valued at approximately $248,724. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mostafa Kamal also recently made the following trade(s):

  • On Wednesday, September 13th, Mostafa Kamal sold 604 shares of Magellan Health stock. The stock was sold at an average price of $83.00, for a total transaction of $50,132.00.
  • On Monday, September 11th, Mostafa Kamal sold 670 shares of Magellan Health stock. The stock was sold at an average price of $83.00, for a total transaction of $55,610.00.
  • 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 transaction 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 transaction of $177,543.30.

Magellan Health, Inc. (NASDAQ MGLN) opened at 82.85 on Tuesday. Magellan Health, Inc. has a 12-month low of $49.50 and a 12-month high of $84.71. The stock has a market cap of $1.96 billion, a PE ratio of 23.59 and a beta of 0.57. The firm has a 50 day moving average of $78.67 and a 200-day moving average of $72.85.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.48). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. On average, analysts expect that Magellan Health, Inc. will post $5.13 earnings per share for the current year.

WARNING: “Magellan Health, Inc. (MGLN) CEO Mostafa Kamal Sells 2,961 Shares” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another domain, it was illegally copied and republished in violation of U.S. and international trademark and copyright law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/09/19/magellan-health-inc-mgln-ceo-mostafa-kamal-sells-2961-shares.html.

A number of research analysts have issued reports on MGLN shares. Zacks Investment Research raised shares of Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Tuesday, July 18th. ValuEngine raised shares of Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Leerink Swann reaffirmed an “outperform” rating and issued a $73.00 price target (up previously from $68.00) on shares of Magellan Health in a report on Sunday, June 25th. Finally, KeyCorp raised 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 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. Magellan Health currently has an average rating of “Buy” and a consensus price target of $82.20.

Several large investors have recently modified their holdings of MGLN. Ameritas Investment Partners Inc. purchased a new stake in shares of Magellan Health during the 1st quarter worth approximately $136,000. Advisory Services Network LLC purchased a new stake in shares of Magellan Health during the 2nd quarter worth approximately $165,000. Eqis Capital Management Inc. purchased a new stake in shares of Magellan Health during the 2nd quarter worth approximately $210,000. HighTower Advisors LLC purchased a new stake in shares of Magellan Health during the 2nd quarter worth approximately $210,000. Finally, Pacad Investment Ltd. lifted its position in shares of Magellan Health by 34.8% during the 2nd quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock worth $226,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

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).

Insider Buying and Selling by Quarter for Magellan Health (NASDAQ:MGLN)

Receive News & Stock Ratings for Magellan Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health Inc. and related stocks with our FREE daily email newsletter.