BidaskClub lowered shares of Magellan Health (NASDAQ:MGLN) from a hold rating to a sell rating in a report issued on Tuesday, BidAskClub reports.

Separately, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $74.80.

MGLN traded up $0.19 on Tuesday, reaching $71.19. The company’s stock had a trading volume of 316 shares, compared to its average volume of 338,022. The firm has a market cap of $1.71 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 0.76 and a beta of 0.59. Magellan Health has a 1 year low of $51.88 and a 1 year high of $96.70. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.62 and a current ratio of 1.67. The firm has a 50 day moving average of $68.81.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Magellan Health had a return on equity of 3.83% and a net margin of 0.18%. Magellan Health’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 earnings per share. Research analysts anticipate that Magellan Health will post 3.92 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG raised its stake in Magellan Health by 46.8% during the fourth quarter. Deutsche Bank AG now owns 106,973 shares of the company’s stock valued at $6,083,000 after buying an additional 34,084 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Magellan Health during the first quarter valued at approximately $6,438,000. Smith Graham & Co. Investment Advisors LP raised its stake in Magellan Health by 7.4% during the first quarter. Smith Graham & Co. Investment Advisors LP now owns 169,211 shares of the company’s stock valued at $11,154,000 after buying an additional 11,600 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Magellan Health during the first quarter valued at approximately $204,000. Finally, 13D Management LLC acquired a new stake in Magellan Health during the first quarter valued at approximately $9,879,000. Hedge funds and other institutional investors own 98.30% of the company’s stock.

Magellan Health Company Profile

Magellan Health, Inc provides healthcare management services in the United States. The company 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.

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