Magellan Health (NASDAQ:MGLN) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Magellan Health (NASDAQ:MGLN) from a hold rating to a sell rating in a research report sent to investors on Thursday, BidAskClub reports.

Separately, ValuEngine raised Magellan Health from a hold rating to a buy rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Magellan Health currently has a consensus rating of Hold and a consensus target price of $74.80.

NASDAQ MGLN opened at $64.63 on Thursday. Magellan Health has a 1-year low of $51.88 and a 1-year high of $77.10. The company has a current ratio of 1.71, a quick ratio of 1.66 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $69.28 and a 200-day moving average of $67.45. The firm has a market cap of $1.62 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 0.70 and a beta of 0.56.

Magellan Health (NASDAQ:MGLN) last released its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Magellan Health had a net margin of 0.18% and a return on equity of 3.68%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the firm posted $0.92 EPS. The company’s revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts forecast that Magellan Health will post 3.96 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGLN. JPMorgan Chase & Co. raised its position in Magellan Health by 160.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 500,110 shares of the company’s stock valued at $35,898,000 after purchasing an additional 308,417 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Magellan Health during the 2nd quarter valued at approximately $19,466,000. Omni Partners LLP raised its position in Magellan Health by 119.3% during the 2nd quarter. Omni Partners LLP now owns 444,262 shares of the company’s stock valued at $32,978,000 after purchasing an additional 241,671 shares during the last quarter. 13D Management LLC bought a new position in Magellan Health during the 1st quarter valued at approximately $9,879,000. Finally, Jacobs Levy Equity Management Inc. raised its position in Magellan Health by 208.1% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 196,077 shares of the company’s stock valued at $14,555,000 after purchasing an additional 132,444 shares during the last quarter. 98.98% of the stock is owned by institutional investors and hedge funds.

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.

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