BidaskClub upgraded shares of Magellan Health (NASDAQ:MGLN) from a hold rating to a buy rating in a research note released on Monday.

Other analysts also recently issued research reports about the stock. ValuEngine raised shares of Magellan Health from a sell rating to a hold rating in a report on Tuesday, December 11th. Zacks Investment Research raised shares of Magellan Health from a sell rating to a hold rating in a research note on Tuesday, November 13th. TheStreet lowered shares of Magellan Health from a b- rating to a c+ rating in a research report on Friday, November 9th. Leerink Swann downgraded shares of Magellan Health from an outperform rating to a market perform rating and reduced their target price for the stock from $90.00 to $70.00 in a research note on Tuesday, November 13th. Finally, Raymond James dropped their target price on shares of Magellan Health from $85.00 to $72.00 and set a buy rating for the company in a research report on Monday, November 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Magellan Health presently has an average rating of Hold and a consensus price target of $83.33.

MGLN stock traded down $0.07 during mid-day trading on Monday, reaching $60.63. 5,598 shares of the stock traded hands, compared to its average volume of 348,444. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 1.67. Magellan Health has a 52 week low of $51.88 and a 52 week high of $112.25. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.84 and a beta of 0.33.

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

Institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its stake in shares of Magellan Health by 16.9% in the 2nd quarter. GSA Capital Partners LLP now owns 6,909 shares of the company’s stock valued at $663,000 after purchasing an additional 997 shares during the last quarter. First Quadrant L P CA lifted its stake in Magellan Health by 4.6% during the 3rd quarter. First Quadrant L P CA now owns 23,747 shares of the company’s stock worth $1,711,000 after acquiring an additional 1,055 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in Magellan Health by 60.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,180 shares of the company’s stock worth $305,000 after acquiring an additional 1,197 shares in the last quarter. Strs Ohio lifted its stake in Magellan Health by 9.4% during the 3rd quarter. Strs Ohio now owns 15,200 shares of the company’s stock worth $1,095,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Magellan Health during the 2nd quarter worth about $131,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

About Magellan Health

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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