Magellan Health Inc (NASDAQ:MGLN) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $95.80 and last traded at $95.25, with a volume of 447200 shares trading hands. The stock had previously closed at $89.30.

Several research firms have issued reports on MGLN. Raymond James Financial reiterated a “hold” rating on shares of Magellan Health in a research note on Saturday. KeyCorp set a $105.00 price objective on Magellan Health and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research lowered Magellan Health from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub upgraded Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Magellan Health presently has a consensus rating of “Buy” and an average price target of $90.50.

The company has a market capitalization of $2,146.98, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.28.

Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.24. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 earnings per share. analysts anticipate that Magellan Health Inc will post 5.19 earnings per share for the current fiscal year.

In other Magellan Health news, General Counsel Daniel N. Gregoire sold 8,275 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $89.08, for a total transaction of $737,137.00. Following the transaction, the general counsel now owns 16,690 shares in the company, valued at $1,486,745.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mostafa Kamal sold 2,190 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $81.07, for a total value of $177,543.30. Following the transaction, the chief executive officer now owns 157 shares in the company, valued at approximately $12,727.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,334 shares of company stock worth $21,702,272. 5.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MGLN. Aperio Group LLC boosted its holdings in Magellan Health by 14.4% during the second quarter. Aperio Group LLC now owns 12,901 shares of the company’s stock worth $940,000 after buying an additional 1,627 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Magellan Health by 20.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,510 shares of the company’s stock valued at $1,276,000 after purchasing an additional 3,000 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Magellan Health by 3.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 33,815 shares of the company’s stock valued at $2,463,000 after purchasing an additional 1,100 shares in the last quarter. Texas Permanent School Fund lifted its holdings in shares of Magellan Health by 1.3% during the 2nd quarter. Texas Permanent School Fund now owns 17,316 shares of the company’s stock valued at $1,262,000 after purchasing an additional 230 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Magellan Health by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 12,412 shares of the company’s stock valued at $905,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 94.96% of the company’s stock.

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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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