Magellan Health, Inc. (NASDAQ:MGLN) CEO Mostafa Kamal sold 604 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.00, for a total value of $50,132.00. Following the sale, the chief executive officer now owns 19 shares in the company, valued at $1,577. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mostafa Kamal also recently made the following trade(s):

  • On Monday, September 11th, Mostafa Kamal sold 670 shares of Magellan Health stock. The shares were sold at an average price of $83.00, for a total value of $55,610.00.
  • On Friday, September 8th, Mostafa Kamal sold 6,267 shares of Magellan Health stock. The shares were sold at an average price of $81.53, for a total value of $510,948.51.
  • On Thursday, September 7th, Mostafa Kamal sold 2,190 shares of Magellan Health stock. The shares were sold at an average price of $81.07, for a total value of $177,543.30.

Magellan Health, Inc. (MGLN) traded up 0.78% during trading on Friday, hitting $83.75. The stock had a trading volume of 240,325 shares. The company’s 50 day moving average is $78.48 and its 200 day moving average is $72.69. Magellan Health, Inc. has a 52-week low of $49.50 and a 52-week high of $84.71. The firm has a market cap of $1.98 billion, a PE ratio of 23.85 and a beta of 0.57.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.48). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Magellan Health had a net margin of 1.59% and a return on equity of 8.88%. Magellan Health’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $0.58 earnings per share. Equities research analysts forecast that Magellan Health, Inc. will post $5.13 earnings per share for the current year.

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Several brokerages have commented on MGLN. KeyCorp upgraded Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a research note on Thursday, July 13th. Zacks Investment Research upgraded Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Tuesday, July 18th. BidaskClub upgraded Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Leerink Swann restated an “outperform” rating and issued a $73.00 price target (up from $68.00) on shares of Magellan Health in a research note on Sunday, June 25th. Finally, ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $82.20.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Suntrust Banks Inc. grew its holdings in shares of Magellan Health by 0.7% during the first quarter. Suntrust Banks Inc. now owns 3,934 shares of the company’s stock valued at $271,000 after buying an additional 27 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Magellan Health by 1.5% during the first quarter. Envestnet Asset Management Inc. now owns 3,733 shares of the company’s stock valued at $258,000 after buying an additional 54 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Magellan Health by 0.5% during the second quarter. Nisa Investment Advisors LLC now owns 20,210 shares of the company’s stock valued at $1,473,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Magellan Health by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the company’s stock valued at $707,000 after buying an additional 100 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Magellan Health by 0.8% during the second quarter. Arizona State Retirement System now owns 12,412 shares of the company’s stock valued at $905,000 after buying an additional 100 shares during the last quarter. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

About Magellan Health

Magellan Health, Inc is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC).

Insider Buying and Selling by Quarter for Magellan Health (NASDAQ:MGLN)

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