Shares of Magellan Health Services Inc. (NASDAQ:MGLN) traded up 1.8% on Wednesday . The stock traded as high as $68.97 and last traded at $68.90, with a volume of 67,075 shares changing hands. The stock had previously closed at $67.70.

Several analysts have weighed in on the company. Zacks Investment Research cut Magellan Health Services from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 7th. KeyCorp assumed coverage on Magellan Health Services in a research report on Thursday, June 30th. They set an “equal weight” rating on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Magellan Health Services in a research report on Wednesday, June 8th. Leerink Swann reaffirmed a “hold” rating on shares of Magellan Health Services in a research report on Saturday, June 4th. Finally, Barclays PLC cut Magellan Health Services from an “equal weight” rating to an “underweight” rating and set a $61.00 price objective on the stock. in a research report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.25.

The company has a market cap of $1.70 billion and a PE ratio of 47.10. The company has a 50 day moving average price of $65.78 and a 200 day moving average price of $63.92.

Magellan Health Services (NASDAQ:MGLN) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Equities analysts predict that Magellan Health Services Inc. will post $2.84 earnings per share for the current year.

Several hedge funds and institutional investors have modified their holdings of MGLN. Dimensional Fund Advisors LP boosted its position in shares of Magellan Health Services by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,075,475 shares of the company’s stock valued at $127,975,000 after buying an additional 86,344 shares during the period. Victory Capital Management Inc. boosted its position in shares of Magellan Health Services by 15.0% in the fourth quarter. Victory Capital Management Inc. now owns 420,237 shares of the company’s stock valued at $25,912,000 after buying an additional 54,868 shares during the period. Matarin Capital Management LLC acquired a new position in shares of Magellan Health Services during the fourth quarter valued at about $7,252,000. Nationwide Fund Advisors boosted its position in shares of Magellan Health Services by 70.3% in the fourth quarter. Nationwide Fund Advisors now owns 60,503 shares of the company’s stock valued at $3,731,000 after buying an additional 24,985 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Magellan Health Services by 259.9% in the fourth quarter. Bank of Montreal Can now owns 54,553 shares of the company’s stock valued at $3,364,000 after buying an additional 39,397 shares during the period.

Magellan Health, Inc (Magellan), formerly Magellan Health Services, Inc, is engaged in the healthcare management business. The Company provides services to health plans, managed care organizations (MCOs), employers, labor unions, military and governmental agencies, third party administrators, consultants and brokers.

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