Wall Street analysts expect that Magellan Health (NASDAQ:MGLN) will announce sales of $1.83 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Magellan Health’s earnings, with the lowest sales estimate coming in at $1.79 billion and the highest estimate coming in at $1.86 billion. Magellan Health reported sales of $1.31 billion in the same quarter last year, which would suggest a positive year over year growth rate of 39.7%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Magellan Health will report full-year sales of $7.66 billion for the current financial year, with estimates ranging from $7.61 billion to $7.71 billion. For the next year, analysts anticipate that the business will report sales of $8.19 billion per share, with estimates ranging from $8.06 billion to $8.30 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Magellan Health.

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

A number of equities research analysts have recently issued reports on MGLN shares. Zacks Investment Research upgraded shares of Magellan Health from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Thursday, March 22nd. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub lowered shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Leerink Swann upgraded shares of Magellan Health from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 15th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Magellan Health has a consensus rating of “Buy” and a consensus target price of $97.50.

In other news, CEO Barry M. Smith sold 13,375 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $99.20, for a total value of $1,326,800.00. Following the sale, the chief executive officer now owns 42,807 shares in the company, valued at approximately $4,246,454.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mostafa Kamal sold 15,428 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $99.04, for a total transaction of $1,527,989.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,428 shares of company stock worth $7,858,688. Company insiders own 4.60% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Gotham Asset Management LLC bought a new stake in shares of Magellan Health during the 4th quarter valued at about $201,000. Shelton Capital Management bought a new stake in shares of Magellan Health during the 4th quarter valued at about $205,000. Xact Kapitalforvaltning AB bought a new stake in shares of Magellan Health during the 4th quarter valued at about $275,000. CIBC Asset Management Inc bought a new stake in shares of Magellan Health during the 4th quarter valued at about $291,000. Finally, Meadow Creek Investment Management LLC grew its position in shares of Magellan Health by 20.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the company’s stock valued at $330,000 after buying an additional 588 shares during the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Shares of MGLN stock opened at $108.80 on Tuesday. The firm has a market capitalization of $2,670.46, a price-to-earnings ratio of 19.78, a PEG ratio of 1.14 and a beta of 0.50. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.58. Magellan Health has a 12 month low of $67.20 and a 12 month high of $111.10.

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Magellan Health Company Profile

Magellan Health, Inc provides healthcare management services in the United States. It operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine for health plans, care organizations, and employers.

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