Analysts forecast that Magellan Health Inc (NASDAQ:MGLN) will report sales of $1.81 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Magellan Health’s earnings. The lowest sales estimate is $1.79 billion and the highest is $1.84 billion. Magellan Health reported sales of $1.31 billion in the same quarter last year, which indicates a positive year over year growth rate of 38.2%. The company is expected to issue its next quarterly earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that Magellan Health will report full-year sales of $1.81 billion for the current fiscal year, with estimates ranging from $7.61 billion to $7.66 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $8.14 billion per share, with estimates ranging from $8.06 billion to $8.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Magellan Health.

Magellan Health (NASDAQ:MGLN) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.26. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.62 billion. Magellan Health had a return on equity of 10.86% and a net margin of 1.89%. The business’s quarterly revenue was up 34.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 earnings per share.

A number of brokerages recently commented on MGLN. BidaskClub raised Magellan Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Leerink Swann raised Magellan Health from a “market perform” rating to an “outperform” rating in a research note on Thursday. ValuEngine lowered Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research lowered Magellan Health from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Magellan Health in a research note on Saturday, December 2nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $96.00.

Magellan Health (NASDAQ:MGLN) traded down $0.20 during trading hours on Wednesday, hitting $108.25. The stock had a trading volume of 268,926 shares, compared to its average volume of 198,337. The stock has a market capitalization of $2,637.95, a price-to-earnings ratio of 24.27, a PEG ratio of 1.27 and a beta of 0.49. Magellan Health has a 52-week low of $64.05 and a 52-week high of $109.80. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.62 and a current ratio of 1.66.

In related news, CEO Barry M. Smith sold 13,375 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $101.20, for a total value of $1,353,550.00. Following the completion of the sale, the chief executive officer now owns 42,807 shares of the company’s stock, valued at $4,332,068.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barry M. Smith sold 13,367 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $95.94, for a total value of $1,282,429.98. Following the completion of the sale, the chief executive officer now directly owns 42,799 shares of the company’s stock, valued at approximately $4,106,136.06. The disclosure for this sale can be found here. Insiders sold 95,863 shares of company stock valued at $9,432,287 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Magellan Health by 5.2% during the fourth quarter. BlackRock Inc. now owns 3,206,577 shares of the company’s stock valued at $309,596,000 after buying an additional 159,726 shares during the period. Hood River Capital Management LLC lifted its position in Magellan Health by 45.7% during the third quarter. Hood River Capital Management LLC now owns 507,355 shares of the company’s stock valued at $43,785,000 after buying an additional 159,110 shares during the period. Wells Fargo & Company MN lifted its position in Magellan Health by 308.0% during the third quarter. Wells Fargo & Company MN now owns 137,829 shares of the company’s stock valued at $11,894,000 after buying an additional 104,045 shares during the period. ClariVest Asset Management LLC purchased a new position in Magellan Health during the third quarter valued at $8,690,000. Finally, Assenagon Asset Management S.A. purchased a new position in Magellan Health during the fourth quarter valued at $8,161,000. 97.35% of the stock is owned by institutional investors.

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Magellan Health Company Profile

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).

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