Magellan Health (NASDAQ:MGLN) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report released on Monday, ValuEngine reports.

Separately, BidaskClub raised Magellan Health from a “sell” rating to a “hold” rating in a research report on Friday, May 1st.

Shares of MGLN opened at $70.35 on Monday. Magellan Health has a 12-month low of $30.60 and a 12-month high of $81.04. The company has a quick ratio of 1.71, a current ratio of 1.75 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 1.23 and a beta of 1.20. The stock’s 50-day moving average price is $71.30 and its 200 day moving average price is $65.89.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings data on Monday, May 11th. The company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.43. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. Magellan Health had a return on equity of 8.02% and a net margin of 1.02%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. Equities research analysts expect that Magellan Health will post 3.1 EPS for the current year.

In other Magellan Health news, SVP Jeffrey N. West sold 1,415 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $78.50, for a total transaction of $111,077.50. Following the completion of the sale, the senior vice president now directly owns 24,430 shares of the company’s stock, valued at approximately $1,917,755. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James E. Murray acquired 4,500 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $67.63 per share, for a total transaction of $304,335.00. Following the completion of the acquisition, the chief operating officer now directly owns 4,500 shares of the company’s stock, valued at $304,335. The disclosure for this purchase can be found here. Corporate insiders own 14.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cornercap Investment Counsel Inc. increased its position in shares of Magellan Health by 1.1% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 14,193 shares of the company’s stock valued at $683,000 after buying an additional 159 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in Magellan Health by 21.2% during the first quarter. Mutual of America Capital Management LLC now owns 949 shares of the company’s stock worth $46,000 after acquiring an additional 166 shares in the last quarter. Mason Street Advisors LLC grew its stake in Magellan Health by 2.9% in the fourth quarter. Mason Street Advisors LLC now owns 7,585 shares of the company’s stock valued at $594,000 after acquiring an additional 211 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Magellan Health by 18.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,446 shares of the company’s stock worth $114,000 after acquiring an additional 221 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Magellan Health by 6.7% during the fourth quarter. Amalgamated Bank now owns 4,022 shares of the company’s stock worth $315,000 after purchasing an additional 251 shares during the period. 99.32% of the stock is currently owned by institutional investors.

Magellan Health Company Profile

Magellan Health, Inc provides healthcare management services in the United States. The company 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.

Featured Story: How is the S&P 500 index different from the DJIA?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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