Magellan Health Inc (NASDAQ:MGLN) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $95.00.

A number of equities analysts have recently commented on MGLN shares. BidaskClub lowered shares of Magellan Health from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. ValuEngine lowered shares of Magellan Health from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 28th. Raymond James reduced their target price on shares of Magellan Health from $105.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, July 30th. Finally, Zacks Investment Research raised shares of Magellan Health from a “strong sell” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Wednesday, July 4th.

NASDAQ MGLN traded down $0.81 during trading on Tuesday, hitting $63.36. The stock had a trading volume of 191,571 shares, compared to its average volume of 251,402. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.63 and a quick ratio of 1.58. The company has a market cap of $1.56 billion, a P/E ratio of 11.04, a PEG ratio of 1.42 and a beta of 0.37. Magellan Health has a one year low of $61.83 and a one year high of $112.25.

Magellan Health (NASDAQ:MGLN) last announced 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). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. Magellan Health had a return on equity of 11.29% and a net margin of 1.66%. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 EPS. As a group, equities research analysts expect that Magellan Health will post 4.47 EPS for the current year.

Several large investors have recently modified their holdings of MGLN. UBS Group AG increased its position in shares of Magellan Health by 22.3% during the first quarter. UBS Group AG now owns 11,225 shares of the company’s stock worth $1,202,000 after acquiring an additional 2,043 shares during the period. Natixis purchased a new position in shares of Magellan Health during the first quarter worth approximately $213,000. Xact Kapitalforvaltning AB increased its position in shares of Magellan Health by 59.6% during the first quarter. Xact Kapitalforvaltning AB now owns 4,551 shares of the company’s stock worth $487,000 after acquiring an additional 1,700 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Magellan Health during the first quarter worth approximately $275,000. Finally, Principal Financial Group Inc. increased its position in shares of Magellan Health by 3.6% during the first quarter. Principal Financial Group Inc. now owns 199,504 shares of the company’s stock worth $21,367,000 after acquiring an additional 6,850 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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