Q1 2019 Earnings Forecast for Magellan Health Inc (MGLN) Issued By Svb Leerink

Magellan Health Inc (NASDAQ:MGLN) – Investment analysts at Svb Leerink decreased their Q1 2019 EPS estimates for Magellan Health in a report issued on Monday, April 15th. Svb Leerink analyst A. Gupte now expects that the company will earn $0.34 per share for the quarter, down from their prior forecast of $0.48. Svb Leerink also issued estimates for Magellan Health’s Q2 2019 earnings at $0.61 EPS.

MGLN has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Magellan Health from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Tuesday, February 26th. Bank of America started coverage on shares of Magellan Health in a report on Friday, February 22nd. They issued a “buy” rating and a $84.00 price objective for the company. BidaskClub upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. ValuEngine cut shares of Magellan Health from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Finally, Stephens started coverage on shares of Magellan Health in a report on Monday, January 14th. They issued an “equal weight” rating and a $68.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $74.80.

NASDAQ:MGLN opened at $65.44 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.72 and a quick ratio of 1.68. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.33 and a beta of 0.48. Magellan Health has a 1-year low of $51.88 and a 1-year high of $112.25.

Magellan Health (NASDAQ:MGLN) last announced its quarterly earnings data on Thursday, February 28th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($1.96). Magellan Health had a net margin of 0.33% and a return on equity of 4.67%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.89 billion.

A number of hedge funds have recently added to or reduced their stakes in MGLN. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Magellan Health by 22.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,831 shares of the company’s stock valued at $104,000 after purchasing an additional 332 shares in the last quarter. BW Gestao de Investimentos Ltda. raised its stake in shares of Magellan Health by 4.8% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 7,426 shares of the company’s stock worth $422,000 after acquiring an additional 337 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Magellan Health by 2.7% in the fourth quarter. Texas Permanent School Fund now owns 15,872 shares of the company’s stock worth $903,000 after acquiring an additional 422 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Magellan Health by 2.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 20,580 shares of the company’s stock worth $1,171,000 after acquiring an additional 450 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Magellan Health by 12.1% in the fourth quarter. Bank of Montreal Can now owns 4,960 shares of the company’s stock worth $283,000 after acquiring an additional 537 shares during the last quarter. Institutional investors own 98.44% 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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