Shares of Magellan Health Inc (NASDAQ:MGLN) have been assigned an average rating of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $71.00.

A number of equities analysts have weighed in on MGLN shares. TheStreet downgraded shares of Magellan Health from a “b-” rating to a “c+” rating in a research note on Friday, November 9th. ValuEngine raised shares of Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Raymond James dropped their price target on shares of Magellan Health from $85.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, November 12th. BidaskClub downgraded shares of Magellan Health from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. Finally, Leerink Swann downgraded shares of Magellan Health from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $90.00 to $70.00 in a research note on Tuesday, November 13th.

Shares of Magellan Health stock traded down $0.20 during trading on Friday, hitting $60.50. 6,623 shares of the company’s stock traded hands, compared to its average volume of 348,444. Magellan Health has a twelve month low of $51.88 and a twelve month high of $112.25. The firm has a market cap of $1.48 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.84 and a beta of 0.33. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 1.72.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Wednesday, November 7th. The company reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.28. Magellan Health had a net margin of 1.49% and a return on equity of 10.93%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The company’s revenue was up 30.6% on a year-over-year basis. On average, equities analysts forecast that Magellan Health will post 3.61 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of MGLN. Itau Unibanco Holding S.A. acquired a new position in Magellan Health during the second quarter valued at approximately $131,000. Jane Street Group LLC acquired a new position in Magellan Health during the third quarter valued at approximately $220,000. Jefferies Group LLC acquired a new position in Magellan Health during the third quarter valued at approximately $243,000. Commonwealth Bank of Australia acquired a new position in Magellan Health during the third quarter valued at approximately $244,000. Finally, Verition Fund Management LLC acquired a new position in Magellan Health during the second quarter valued at approximately $248,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Magellan Health Company Profile

Magellan Health, Inc provides healthcare management services in the United States. It operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine for health plans, care organizations, and employers.

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