Magellan Health Services Inc. (NASDAQ:MGLN) shares saw strong trading volume on Monday . 230,288 shares were traded during trading, an increase of 26% from the previous session’s volume of 182,710 shares.The stock last traded at $66.04 and had previously closed at $68.47.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Magellan Health Services from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Thursday, July 21st. Barclays PLC lowered shares of Magellan Health Services from an “equal weight” rating to an “underweight” rating and set a $61.00 price objective for the company. in a research report on Wednesday, June 1st. KeyCorp assumed coverage on shares of Magellan Health Services in a research report on Thursday, June 30th. They set an “equal weight” rating for the company. Jefferies Group reaffirmed a “buy” rating and set a $83.00 price objective (up previously from $77.00) on shares of Magellan Health Services in a research report on Friday, May 6th. Finally, Leerink Swann reaffirmed a “hold” rating on shares of Magellan Health Services in a research report on Saturday, June 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Magellan Health Services currently has a consensus rating of “Hold” and a consensus target price of $68.50.

The firm’s 50 day moving average price is $66.99 and its 200-day moving average price is $64.83. The firm has a market cap of $1.63 billion and a price-to-earnings ratio of 44.95.

Magellan Health Services (NASDAQ:MGLN) last released its earnings results on Friday, July 29th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.56 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts expect that Magellan Health Services Inc. will post $2.84 EPS for the current year.

Several hedge funds and institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its position in shares of Magellan Health Services by 0.9% in the fourth quarter. Rhumbline Advisers now owns 47,269 shares of the company’s stock worth $2,915,000 after buying an additional 415 shares during the period. Deere & Co. purchased a new position in shares of Magellan Health Services during the fourth quarter worth approximately $1,895,000. Bank of Montreal Can increased 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 worth $3,364,000 after buying an additional 39,397 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Magellan Health Services during the fourth quarter worth approximately $2,224,000. Finally, Victory Capital Management Inc. increased 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 worth $25,912,000 after buying an additional 54,868 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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