Magellan Health (MGLN) Now Covered by Stephens

Equities research analysts at Stephens started coverage on shares of Magellan Health (NASDAQ:MGLN) in a research note issued to investors on Monday, The Fly reports. The firm set an “equal weight” rating on the stock.

A number of other equities analysts have also recently commented on the company. BidaskClub raised Magellan Health from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. ValuEngine raised Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Zacks Investment Research raised Magellan Health from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. TheStreet cut Magellan Health from a “b-” rating to a “c+” rating in a research note on Friday, November 9th. Finally, Leerink Swann cut Magellan Health from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $90.00 to $70.00 in a research note on Tuesday, November 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Magellan Health presently has an average rating of “Hold” and a consensus price target of $83.33.

Shares of Magellan Health stock opened at $60.87 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.67 and a current ratio of 1.72. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.84 and a beta of 0.33. Magellan Health has a one year low of $51.88 and a one year high of $112.25.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.28. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Magellan Health had a return on equity of 10.93% and a net margin of 1.49%. The business’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. As a group, equities analysts expect that Magellan Health will post 3.61 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Magellan Health in the 3rd quarter worth approximately $220,000. Jefferies Group LLC bought a new stake in shares of Magellan Health in the 3rd quarter worth approximately $243,000. Commonwealth Bank of Australia bought a new stake in shares of Magellan Health in the 3rd quarter worth approximately $244,000. Verition Fund Management LLC bought a new stake in shares of Magellan Health in the 2nd quarter worth approximately $248,000. Finally, Pacer Advisors Inc. grew its position in shares of Magellan Health by 86.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,449 shares of the company’s stock worth $249,000 after buying an additional 1,601 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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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