Magellan Health Services Inc. (NASDAQ:MGLN)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group in a report issued on Monday. They currently have a $76.00 price target on the stock. Jefferies Group’s price objective points to a potential upside of 41.98% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Magellan Health Services from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Thursday, July 21st. TheStreet cut shares of Magellan Health Services from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. KeyCorp started coverage on shares of Magellan Health Services in a research report on Thursday, June 30th. They set an “equal weight” rating on the stock. Leerink Swann reissued a “hold” rating on shares of Magellan Health Services in a research report on Friday, August 12th. Finally, Barclays PLC cut shares of Magellan Health Services from an “equal weight” rating to an “underweight” rating and set a $61.00 target price on the stock. in a research report on Wednesday, June 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $66.00.
Magellan Health Services (NASDAQ:MGLN) opened at 53.53 on Monday. The firm’s 50-day moving average price is $56.23 and its 200-day moving average price is $64.43. The firm has a market cap of $1.32 billion, a P/E ratio of 36.41 and a beta of 0.48. Magellan Health Services has a 12 month low of $45.40 and a 12 month high of $72.31.
Magellan Health Services (NASDAQ:MGLN) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.04. Magellan Health Services had a net margin of 0.77% and a return on equity of 6.33%. The business earned $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business posted $0.56 EPS. Magellan Health Services’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that Magellan Health Services will post $2.39 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. Pacad Investment Ltd. raised its stake in shares of Magellan Health Services by 40.5% in the first quarter. Pacad Investment Ltd. now owns 5,900 shares of the company’s stock valued at $401,000 after buying an additional 1,700 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Magellan Health Services by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 139,064 shares of the company’s stock valued at $9,447,000 after buying an additional 6,551 shares during the last quarter. Prudential Financial Inc. raised its position in Magellan Health Services by 355.6% in the first quarter. Prudential Financial Inc. now owns 286,037 shares of the company’s stock worth $19,430,000 after buying an additional 223,250 shares in the last quarter. Algert Global LLC raised its position in Magellan Health Services by 181.6% in the first quarter. Algert Global LLC now owns 18,419 shares of the company’s stock worth $1,251,000 after buying an additional 11,879 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in Magellan Health Services during the first quarter worth $147,000. Institutional investors own 93.53% of the company’s stock.
Magellan Health Services Company Profile
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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