Wall Street analysts predict that Magellan Health Inc (NASDAQ:MGLN) will announce earnings per share of $0.95 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Magellan Health’s earnings. Magellan Health posted earnings per share of $0.74 in the same quarter last year, which indicates a positive year over year growth rate of 28.4%. The firm is expected to report its next earnings results on Wednesday, April 25th.
On average, analysts expect that Magellan Health will report full year earnings of $6.03 per share for the current financial year, with EPS estimates ranging from $5.97 to $6.08. For the next fiscal year, analysts expect that the firm will post earnings of $6.62 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Magellan Health.
Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.26. Magellan Health had a return on equity of 10.86% and a net margin of 1.89%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the firm earned $1.80 EPS. The business’s revenue for the quarter was up 34.1% compared to the same quarter last year.
In related news, General Counsel Daniel N. Gregoire sold 22,875 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $99.05, for a total transaction of $2,265,768.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mostafa Kamal sold 15,428 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $99.04, for a total value of $1,527,989.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,863 shares of company stock worth $9,432,287. 5.00% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Magellan Health by 5.2% during the 4th quarter. BlackRock Inc. now owns 3,206,577 shares of the company’s stock valued at $309,596,000 after purchasing an additional 159,726 shares during the period. LSV Asset Management raised its stake in shares of Magellan Health by 1.4% during the 4th quarter. LSV Asset Management now owns 813,682 shares of the company’s stock valued at $78,560,000 after purchasing an additional 11,400 shares during the period. Millennium Management LLC raised its stake in shares of Magellan Health by 7.6% during the 4th quarter. Millennium Management LLC now owns 588,464 shares of the company’s stock valued at $56,816,000 after purchasing an additional 41,463 shares during the period. Hood River Capital Management LLC raised its stake in shares of Magellan Health by 8.4% during the 4th quarter. Hood River Capital Management LLC now owns 549,938 shares of the company’s stock valued at $53,097,000 after purchasing an additional 42,583 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Magellan Health by 1.5% during the 4th quarter. Victory Capital Management Inc. now owns 461,817 shares of the company’s stock valued at $44,588,000 after purchasing an additional 6,942 shares during the period. Institutional investors own 97.35% of the company’s stock.
Magellan Health (NASDAQ MGLN) opened at $104.65 on Monday. Magellan Health has a 1 year low of $64.05 and a 1 year high of $109.80. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.62 and a current ratio of 1.66. The company has a market capitalization of $2,545.52, a price-to-earnings ratio of 23.46, a PEG ratio of 1.23 and a beta of 0.49.
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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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