Systematic Financial Management LP boosted its position in shares of Magellan Health Inc (NASDAQ:MGLN) by 18.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,855 shares of the company’s stock after acquiring an additional 2,960 shares during the quarter. Systematic Financial Management LP owned 0.08% of Magellan Health worth $1,359,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Magellan Health during the 2nd quarter valued at about $131,000. Verition Fund Management LLC purchased a new position in shares of Magellan Health in the 2nd quarter valued at about $248,000. Cubist Systematic Strategies LLC boosted its stake in shares of Magellan Health by 60.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,180 shares of the company’s stock valued at $305,000 after buying an additional 1,197 shares during the period. First Hawaiian Bank purchased a new position in shares of Magellan Health in the 3rd quarter valued at about $305,000. Finally, ARP Americas LP purchased a new position in shares of Magellan Health in the 2nd quarter valued at about $326,000. Institutional investors own 98.92% of the company’s stock.

MGLN has been the subject of several recent research reports. ValuEngine cut Magellan Health from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. 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 note on Monday, July 30th. Zacks Investment Research cut Magellan Health from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. BidaskClub cut Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 31st. Finally, Leerink Swann lowered Magellan Health from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $70.00 in a research report on Tuesday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $88.75.

Shares of NASDAQ MGLN opened at $54.40 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55. Magellan Health Inc has a fifty-two week low of $54.18 and a fifty-two week high of $112.25. The stock has a market cap of $1.36 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 1.55 and a beta of 0.52.

Magellan Health (NASDAQ:MGLN) last issued its earnings results on Wednesday, November 7th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.28. Magellan Health had a return on equity of 10.93% and a net margin of 1.49%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the company earned $1.64 EPS. The business’s quarterly revenue was up 30.6% on a year-over-year basis. Equities analysts forecast that Magellan Health Inc will post 3.61 EPS for the current year.

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Magellan Health 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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Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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