Magellan Health Services Inc. (NASDAQ:MGLN)’s share price traded up 1.8% during trading on Wednesday . The company traded as high as $68.97 and last traded at $68.90, with a volume of 67,075 shares traded. The stock had previously closed at $67.70.

Several brokerages recently issued reports on MGLN. Zacks Investment Research raised shares of Magellan Health Services from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Tuesday, May 3rd. Leerink Swann reissued a “hold” rating on shares of Magellan Health Services in a report on Saturday, June 4th. KeyCorp began coverage on shares of Magellan Health Services in a report on Thursday, June 30th. They set an “equal weight” rating for the company. Jefferies Group reissued a “buy” rating on shares of Magellan Health Services in a report on Wednesday, June 8th. Finally, TheStreet raised shares of Magellan Health Services from a “hold” rating to a “buy” rating in a report on Thursday, March 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $68.25.

The company has a market capitalization of $1.72 billion and a PE ratio of 47.51. The firm’s 50 day moving average is $65.94 and its 200-day moving average is $63.99.

Magellan Health Services (NASDAQ:MGLN) last released 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 business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Magellan Health Services’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 EPS. On average, equities analysts forecast that Magellan Health Services Inc. will post $2.84 earnings per share for the current fiscal year.

Several institutional investors have added to or reduced their stakes in MGLN. Strs Ohio increased its position in Magellan Health Services by 2.9% in the fourth quarter. Strs Ohio now owns 17,800 shares of the company’s stock valued at $1,097,000 after buying an additional 500 shares during the period. Cornercap Investment Counsel Inc. increased its position in Magellan Health Services by 2.5% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 21,630 shares of the company’s stock valued at $1,334,000 after buying an additional 535 shares during the period. Deere & Co. acquired a new position in Magellan Health Services during the fourth quarter valued at approximately $1,895,000. First Trust Advisors LP increased its position in Magellan Health Services by 36.2% in the fourth quarter. First Trust Advisors LP now owns 35,110 shares of the company’s stock valued at $2,165,000 after buying an additional 9,334 shares during the period. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Magellan Health Services during the fourth quarter valued at approximately $2,224,000.

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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