Brokerages predict that Magellan Health Inc (NASDAQ:MGLN) will post earnings of $1.42 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Magellan Health’s earnings. The lowest EPS estimate is $1.35 and the highest is $1.55. Magellan Health posted earnings of $1.64 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 13.4%. The business is expected to issue its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Magellan Health will report full-year earnings of $5.45 per share for the current year, with EPS estimates ranging from $5.39 to $5.57. For the next fiscal year, analysts anticipate that the company will post earnings of $6.28 per share, with EPS estimates ranging from $6.04 to $6.64. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Magellan Health.
Magellan Health (NASDAQ:MGLN) last posted its earnings results on Friday, July 27th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.15). The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. Magellan Health had a return on equity of 11.29% and a net margin of 1.66%. The firm’s revenue was up 27.6% compared to the same quarter last year. During the same period last year, the company posted $0.59 EPS.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Magellan Health from a “strong sell” rating to a “buy” rating and set a $108.00 target price for the company in a report on Wednesday, July 4th. ValuEngine cut shares of Magellan Health from a “buy” rating to a “hold” rating in a report on Friday, July 20th. BidaskClub cut shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a report on Friday, August 31st. Finally, Raymond James dropped their target price on shares of Magellan Health from $105.00 to $85.00 and set a “buy” rating for the company in a report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $98.00.
Several institutional investors have recently added to or reduced their stakes in MGLN. MML Investors Services LLC acquired a new stake in Magellan Health during the 1st quarter valued at approximately $1,295,000. Koch Industries Inc. bought a new position in shares of Magellan Health in the 1st quarter worth $700,000. Principal Financial Group Inc. lifted its stake in Magellan Health by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 199,504 shares of the company’s stock valued at $21,367,000 after acquiring an additional 6,850 shares in the last quarter. UBS Group AG lifted its stake in Magellan Health by 22.3% during the 1st quarter. UBS Group AG now owns 11,225 shares of the company’s stock valued at $1,202,000 after acquiring an additional 2,043 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. lifted its stake in Magellan Health by 7.8% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 18,600 shares of the company’s stock valued at $1,992,000 after acquiring an additional 1,345 shares in the last quarter. 97.90% of the stock is owned by institutional investors.
MGLN stock opened at $70.81 on Thursday. The stock has a market capitalization of $1.77 billion, a PE ratio of 12.87, a P/E/G ratio of 1.58 and a beta of 0.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.63 and a quick ratio of 1.58. Magellan Health has a 12 month low of $68.76 and a 12 month high of $112.25.
Magellan Health Company Profile
Magellan Health, Inc engages in the healthcare management business. It operates through the following segments: Healthcare, Pharmacy Management, and Corporate. The Healthcare segment comprises of the Commercial and Government reporting units. The Pharmacy Management segment offers products and solutions that provide clinical and financial management of pharmaceuticals paid under both the medical and the pharmacy benefit.The Corporate segment covers amounts not allocated to the Healthcare and Pharmacy Management segments.
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