Magellan Health Inc (NASDAQ:MGLN)’s share price reached a new 52-week low on Thursday . The stock traded as low as $51.88 and last traded at $54.70, with a volume of 27106 shares. The stock had previously closed at $55.15.
Several equities analysts have weighed in on MGLN shares. TheStreet cut shares of Magellan Health from a “b-” rating to a “c+” rating in a research report on Friday, November 9th. Raymond James lowered their price objective on shares of Magellan Health from $85.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, November 12th. BidaskClub cut shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 31st. ValuEngine cut shares of Magellan Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 13th. Finally, Leerink Swann cut shares of Magellan Health from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $90.00 to $70.00 in a research report on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $83.33.
The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.35 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.54 and a beta of 0.47.
Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $1.45 EPS for the quarter, beating the 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 business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company posted $1.64 EPS. Magellan Health’s revenue was up 30.6% on a year-over-year basis. Sell-side analysts forecast that Magellan Health Inc will post 3.61 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of Magellan Health during the 3rd quarter valued at $792,000. Morgan Stanley grew its holdings in shares of Magellan Health by 207.6% during the 3rd quarter. Morgan Stanley now owns 215,544 shares of the company’s stock valued at $15,531,000 after acquiring an additional 145,467 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Magellan Health by 7.4% during the 3rd quarter. Legal & General Group Plc now owns 70,811 shares of the company’s stock valued at $5,097,000 after acquiring an additional 4,882 shares in the last quarter. BW Gestao de Investimentos Ltda. grew its holdings in shares of Magellan Health by 49.2% during the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 7,089 shares of the company’s stock valued at $511,000 after acquiring an additional 2,339 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Magellan Health by 29.4% during the 3rd quarter. AQR Capital Management LLC now owns 135,850 shares of the company’s stock valued at $9,788,000 after acquiring an additional 30,858 shares in the last quarter. Institutional investors and hedge funds own 98.77% of the company’s stock.
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About Magellan Health (NASDAQ:MGLN)
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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