7,553 Shares in Magellan Health Inc (MGLN) Purchased by NorthCoast Asset Management LLC

NorthCoast Asset Management LLC bought a new position in shares of Magellan Health Inc (NASDAQ:MGLN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,553 shares of the company’s stock, valued at approximately $729,000.

Other large investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its holdings in Magellan Health by 6.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock worth $152,000 after buying an additional 120 shares during the last quarter. Advisory Services Network LLC bought a new position in Magellan Health during the 2nd quarter worth approximately $165,000. HighTower Advisors LLC bought a new position in Magellan Health during the 2nd quarter worth approximately $210,000. Amalgamated Bank lifted its holdings in Magellan Health by 5.1% during the 2nd quarter. Amalgamated Bank now owns 3,265 shares of the company’s stock worth $238,000 after buying an additional 159 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in Magellan Health during the 3rd quarter worth approximately $244,000. 95.14% of the stock is currently owned by institutional investors.

MGLN has been the topic of a number of research analyst reports. Zacks Investment Research raised Magellan Health from a “hold” rating to a “strong-buy” rating and set a $112.00 target price on the stock in a report on Wednesday, December 13th. BidaskClub raised Magellan Health from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Jefferies Group reaffirmed a “buy” rating and set a $94.00 target price on shares of Magellan Health in a report on Friday, October 13th. Finally, KeyCorp set a $105.00 target price on Magellan Health and gave the stock a “buy” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $96.00.

In related news, CEO Barry M. Smith sold 13,367 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $95.94, for a total value of $1,282,429.98. Following the sale, the chief executive officer now owns 42,799 shares of the company’s stock, valued at approximately $4,106,136.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Barry M. Smith sold 13,375 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $99.20, for a total value of $1,326,800.00. Following the completion of the sale, the chief executive officer now directly owns 42,807 shares in the company, valued at approximately $4,246,454.40. The disclosure for this sale can be found here. In the last three months, insiders sold 113,953 shares of company stock worth $10,797,505. Company insiders own 3.60% of the company’s stock.

Shares of Magellan Health Inc (NASDAQ:MGLN) opened at $96.75 on Thursday. The stock has a market capitalization of $2,300.85, a P/E ratio of 21.80, a P/E/G ratio of 1.12 and a beta of 0.52. Magellan Health Inc has a 1-year low of $64.05 and a 1-year high of $102.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.28 and a quick ratio of 2.21.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.24. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.49 billion. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. analysts forecast that Magellan Health Inc will post 5.19 earnings per share for the current year.

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About Magellan Health

Magellan Health, Inc is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC).

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

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