Magellan Health (NASDAQ:MGLN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.

According to Zacks, “Magellan Health Inc. is an American for-profit managed health care company, focused on behavioral healthcare. As a specialty health care manager, they focus on some of today’s most complex and costly health care services. The depth and breadth of experience in managing behavioral health care, diagnostic imaging, specialty pharmaceutical services and providing pharmacy benefits administration enables us to deliver invaluable insights and innovative solutions that positively impact both the quality and the cost of some of the nation’s fastest growing areas of health care. Maintaining the highest level of integrity and clinical and quality excellence have long been Magellan hallmarks. By working together with health plans, employers, government agencies, consumers, service providers, fellow employees and many other stakeholders, they get a full perspective of the situation and are able to leverage these partnerships to deliver effective and innovative solutions. “

Several other equities analysts have also issued reports on MGLN. ValuEngine lowered Magellan Health from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Raymond James decreased their price objective on Magellan Health from $105.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, July 30th. Finally, BidaskClub lowered Magellan Health from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 31st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $98.00.

Shares of MGLN opened at $67.31 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.63 and a quick ratio of 1.58. Magellan Health has a 52-week low of $66.71 and a 52-week high of $112.25. The company has a market capitalization of $1.77 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 1.58 and a beta of 0.37.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data on Friday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.15). Magellan Health had a net margin of 1.66% and a return on equity of 11.29%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Magellan Health’s revenue for the quarter was up 27.6% compared to the same quarter last year. Equities analysts forecast that Magellan Health will post 4.55 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in MGLN. FMR LLC boosted its position in Magellan Health by 45.9% during the 2nd quarter. FMR LLC now owns 2,180,301 shares of the company’s stock worth $209,200,000 after acquiring an additional 685,962 shares during the last quarter. BlackRock Inc. boosted its position in Magellan Health by 8.1% during the 2nd quarter. BlackRock Inc. now owns 3,473,848 shares of the company’s stock worth $333,316,000 after acquiring an additional 260,040 shares during the last quarter. Brown Advisory Inc. acquired a new position in Magellan Health during the 2nd quarter worth approximately $20,869,000. Victory Capital Management Inc. boosted its position in Magellan Health by 33.9% during the 2nd quarter. Victory Capital Management Inc. now owns 559,368 shares of the company’s stock worth $53,672,000 after acquiring an additional 141,628 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Magellan Health during the 2nd quarter worth approximately $8,462,000. 97.90% of the stock is owned by hedge funds and other institutional investors.

About Magellan Health

Magellan Health, Inc engages in the healthcare management business. It operates through the following segments: Healthcare, Pharmacy Management, and Corporate. The Healthcare segment comprises of the Commercial and Government reporting units. The Pharmacy Management segment offers products and solutions that provide clinical and financial management of pharmaceuticals paid under both the medical and the pharmacy benefit.The Corporate segment covers amounts not allocated to the Healthcare and Pharmacy Management segments.

Recommended Story: How is a Moving Average Calculated?

Get a free copy of the Zacks research report on Magellan Health (MGLN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Magellan Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health and related companies with MarketBeat.com's FREE daily email newsletter.