Magellan Health Inc (NASDAQ:MGLN) insider Clapper Caskie Lewis sold 59,313 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $93.99, for a total value of $5,574,828.87. Following the transaction, the insider now directly owns 48,474 shares in the company, valued at approximately $4,556,071.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Magellan Health Inc (MGLN) opened at $96.40 on Thursday. Magellan Health Inc has a 52 week low of $64.05 and a 52 week high of $96.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.28. The stock has a market capitalization of $2,290.03, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.22 and a beta of 0.54.
Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.24. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Magellan Health had a return on equity of 9.20% and a net margin of 1.68%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS. equities analysts expect that Magellan Health Inc will post 5.19 EPS for the current fiscal year.
MGLN has been the topic of several recent analyst reports. Jefferies Group reaffirmed a “buy” rating and set a $94.00 price target on shares of Magellan Health in a research report on Friday, October 13th. ValuEngine upgraded Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. KeyCorp reiterated a “buy” rating and set a $89.00 target price on shares of Magellan Health in a research note on Friday, September 22nd. Zacks Investment Research downgraded Magellan Health from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, Raymond James Financial restated a “hold” rating on shares of Magellan Health in a research note on Saturday, December 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $90.50.
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Magellan Health 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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