Two Sigma Advisers LP increased its holdings in shares of Magellan Health Inc (NASDAQ:MGLN) by 129.8% in the fourth quarter, Holdings Channel reports. The fund owned 331,385 shares of the company’s stock after buying an additional 187,200 shares during the quarter. Two Sigma Advisers LP’s holdings in Magellan Health were worth $18,852,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGLN. Engaged Capital LLC bought a new stake in Magellan Health during the 4th quarter valued at $14,550,000. Point72 Asset Management L.P. raised its position in shares of Magellan Health by 269.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 326,200 shares of the company’s stock worth $23,503,000 after acquiring an additional 238,013 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Magellan Health by 34.6% in the 4th quarter. Victory Capital Management Inc. now owns 761,670 shares of the company’s stock worth $43,332,000 after acquiring an additional 195,658 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Magellan Health by 160.2% in the 4th quarter. Two Sigma Investments LP now owns 299,050 shares of the company’s stock worth $17,013,000 after acquiring an additional 184,112 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Magellan Health by 207.6% in the 3rd quarter. Morgan Stanley now owns 215,544 shares of the company’s stock worth $15,531,000 after acquiring an additional 145,467 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

Shares of MGLN stock opened at $64.63 on Monday. Magellan Health Inc has a 1-year low of $51.88 and a 1-year high of $112.25. The company has a current ratio of 1.72, a quick ratio of 1.68 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.55 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 2.32 and a beta of 0.48.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Thursday, February 28th. The company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($1.96). Magellan Health had a return on equity of 4.67% and a net margin of 0.33%. On average, equities research analysts forecast that Magellan Health Inc will post 2.78 earnings per share for the current fiscal year.

Several research analysts have recently commented on the company. Zacks Investment Research raised Magellan Health from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Tuesday, February 26th. Bank of America assumed coverage on Magellan Health in a research report on Friday, February 22nd. They issued a “buy” rating and a $84.00 price target for the company. BidaskClub raised Magellan Health from a “hold” rating to a “buy” rating in a research report on Saturday, February 23rd. ValuEngine raised Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, December 11th. Finally, Stephens assumed coverage on Magellan Health in a research report on Monday, January 14th. They issued an “equal weight” rating and a $68.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $74.80.

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

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