Citadel Advisors LLC cut its stake in Magellan Health Inc (NASDAQ:MGLN) by 16.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 181,752 shares of the company’s stock after selling 36,443 shares during the period. Citadel Advisors LLC’s holdings in Magellan Health were worth $17,548,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Magellan Health by 5.2% during the fourth quarter. BlackRock Inc. now owns 3,206,577 shares of the company’s stock worth $309,596,000 after purchasing an additional 159,726 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of Magellan Health by 45.7% during the third quarter. Hood River Capital Management LLC now owns 507,355 shares of the company’s stock worth $43,785,000 after purchasing an additional 159,110 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Magellan Health by 308.0% during the third quarter. Wells Fargo & Company MN now owns 137,829 shares of the company’s stock worth $11,894,000 after purchasing an additional 104,045 shares during the last quarter. Hillcrest Asset Management LLC bought a new stake in shares of Magellan Health during the third quarter worth $8,822,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of Magellan Health during the third quarter worth $8,690,000. Institutional investors own 96.38% of the company’s stock.
Shares of Magellan Health Inc (NASDAQ MGLN) opened at $97.60 on Tuesday. Magellan Health Inc has a 52-week low of $64.05 and a 52-week high of $102.70. The firm has a market capitalization of $2,346.53, a price-to-earnings ratio of 25.75, a PEG ratio of 1.14 and a beta of 0.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.28.
Several analysts have recently weighed in on MGLN shares. KeyCorp set a $105.00 target price on Magellan Health and gave the stock a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded Magellan Health from a “hold” rating to a “strong-buy” rating and set a $112.00 target price for the company in a research report on Wednesday, December 13th. BidaskClub downgraded Magellan Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 19th. Raymond James Financial reiterated a “hold” rating on shares of Magellan Health in a research report on Saturday, December 2nd. Finally, ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $96.00.
In related news, CEO Barry M. Smith sold 13,375 shares of Magellan Health stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $99.20, for a total value of $1,326,800.00. Following the completion of the sale, the chief executive officer now directly owns 42,807 shares in the company, valued at $4,246,454.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mostafa Kamal sold 2,180 shares of Magellan Health stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $92.00, for a total value of $200,560.00. Following the completion of the sale, the chief executive officer now owns 2,180 shares of the company’s stock, valued at $200,560. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,953 shares of company stock valued at $10,797,505. Corporate insiders own 5.00% of the company’s stock.
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Magellan Health Company Profile
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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