Svb Leerink Brokers Lift Earnings Estimates for Magellan Health Inc (MGLN)

Magellan Health Inc (NASDAQ:MGLN) – Svb Leerink increased their Q3 2019 earnings estimates for Magellan Health in a report issued on Monday, April 15th. Svb Leerink analyst A. Gupte now forecasts that the company will post earnings of $0.93 per share for the quarter, up from their previous estimate of $0.77.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Thursday, February 28th. The company reported ($0.77) EPS 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%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.89 billion.

Several other research analysts have also recently commented on MGLN. Zacks Investment Research cut shares of Magellan Health from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. BidaskClub raised 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. Stephens began coverage on shares of Magellan Health in a report on Monday, January 14th. They set an “equal weight” rating and a $68.00 target price on the stock. Finally, Bank of America began coverage on shares of Magellan Health in a report on Friday, February 22nd. They set a “buy” rating and a $84.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $74.80.

Shares of MGLN opened at $63.31 on Wednesday. Magellan Health has a 12 month low of $51.88 and a 12 month high of $112.25. The company has a market cap of $1.57 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 2.35 and a beta of 0.48. The company has a current ratio of 1.72, a quick ratio of 1.68 and a debt-to-equity ratio of 0.57.

A number of large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Magellan Health by 22.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,831 shares of the company’s stock valued at $104,000 after acquiring an additional 332 shares during the last quarter. BW Gestao de Investimentos Ltda. increased its stake in Magellan Health by 4.8% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 7,426 shares of the company’s stock valued at $422,000 after acquiring an additional 337 shares during the last quarter. Texas Permanent School Fund increased its stake in Magellan Health by 2.7% in the fourth quarter. Texas Permanent School Fund now owns 15,872 shares of the company’s stock valued at $903,000 after acquiring an additional 422 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Magellan Health by 2.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 20,580 shares of the company’s stock valued at $1,171,000 after acquiring an additional 450 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Magellan Health by 12.1% in the fourth quarter. Bank of Montreal Can now owns 4,960 shares of the company’s stock valued at $283,000 after acquiring an additional 537 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors and hedge funds.

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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