Media coverage about Magellan Health (NASDAQ:MGLN) has been trending somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Magellan Health earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave press coverage about the company an impact score of 46.9692183278523 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
MGLN has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Tuesday, July 18th. BidaskClub raised shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Leerink Swann reissued an “outperform” rating and issued a $73.00 target price (up from $68.00) on shares of Magellan Health in a report on Sunday, June 25th. Finally, KeyCorp raised shares of Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 target price on the stock in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Magellan Health presently has an average rating of “Buy” and a consensus price target of $82.20.
Magellan Health (MGLN) traded up 2.26% during midday trading on Friday, hitting $79.05. 152,999 shares of the stock were exchanged. Magellan Health has a 1-year low of $49.50 and a 1-year high of $84.71. The company’s 50 day moving average is $75.88 and its 200 day moving average is $72.12. The company has a market capitalization of $1.87 billion, a P/E ratio of 22.51 and a beta of 0.59.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings data on Friday, July 28th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by $0.48. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Magellan Health had a net margin of 0.35% and a return on equity of 1.94%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the company posted $0.58 EPS. Analysts predict that Magellan Health will post $5.13 earnings per share for the current fiscal year.
In related news, General Counsel Daniel N. Gregoire sold 33,574 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $80.11, for a total value of $2,689,613.14. Following the completion of the sale, the general counsel now owns 14,633 shares of the company’s stock, valued at $1,172,249.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeffrey N. West sold 28,514 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $80.07, for a total value of $2,283,115.98. Following the completion of the sale, the senior vice president now directly owns 17,085 shares of the company’s stock, valued at approximately $1,367,995.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,943 shares of company stock valued at $7,846,757. Insiders own 3.60% of the company’s stock.
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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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