Magellan Health Inc (NASDAQ:MGLN) has earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $99.50.

MGLN has been the subject of a number of research reports. ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub downgraded Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 19th. KeyCorp set a $105.00 price target on Magellan Health and gave the stock a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded Magellan Health from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Magellan Health in a research note on Saturday, December 2nd.

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In related news, CEO Mostafa Kamal sold 15,428 shares of Magellan Health stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $99.04, for a total value of $1,527,989.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Barry M. Smith sold 13,375 shares of Magellan Health stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $101.20, for a total value of $1,353,550.00. Following the completion of the transaction, the chief executive officer now owns 42,807 shares of the company’s stock, valued at $4,332,068.40. The disclosure for this sale can be found here. Insiders sold 95,863 shares of company stock valued at $9,432,287 over the last quarter. Insiders own 3.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of MGLN. Gotham Asset Management LLC acquired a new position in Magellan Health in the fourth quarter valued at approximately $201,000. Shelton Capital Management acquired a new position in Magellan Health in the fourth quarter valued at approximately $205,000. Xact Kapitalforvaltning AB acquired a new position in Magellan Health in the fourth quarter valued at approximately $275,000. Breton Hill Capital Ltd. acquired a new position in Magellan Health in the third quarter valued at approximately $276,000. Finally, CIBC Asset Management Inc acquired a new position in Magellan Health in the fourth quarter valued at approximately $291,000. Institutional investors own 97.35% of the company’s stock.

Shares of Magellan Health (NASDAQ:MGLN) traded down $0.20 during midday trading on Friday, hitting $108.25. The stock had a trading volume of 268,926 shares, compared to its average volume of 198,337. Magellan Health has a twelve month low of $64.05 and a twelve month high of $109.80. The stock has a market capitalization of $2,633.07, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.62 and a current ratio of 1.66.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Tuesday, February 27th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.26. Magellan Health had a return on equity of 10.86% and a net margin of 1.89%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The company’s revenue for the quarter was up 34.1% compared to the same quarter last year. research analysts expect that Magellan Health will post 5.89 EPS for the current fiscal year.

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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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