Axa raised its position in Magellan Health Inc (NASDAQ:MGLN) by 84.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,718 shares of the company’s stock after buying an additional 43,306 shares during the quarter. Axa’s holdings in Magellan Health were worth $9,145,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. grew its holdings in Magellan Health by 5.2% in the 4th quarter. BlackRock Inc. now owns 3,206,577 shares of the company’s stock valued at $309,596,000 after buying an additional 159,726 shares in the last quarter. LSV Asset Management grew its holdings in Magellan Health by 1.4% in the 4th quarter. LSV Asset Management now owns 813,682 shares of the company’s stock valued at $78,560,000 after buying an additional 11,400 shares in the last quarter. Hood River Capital Management LLC grew its holdings in Magellan Health by 8.4% in the 4th quarter. Hood River Capital Management LLC now owns 549,938 shares of the company’s stock valued at $53,097,000 after buying an additional 42,583 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Magellan Health by 1.5% in the 4th quarter. Victory Capital Management Inc. now owns 461,817 shares of the company’s stock valued at $44,588,000 after buying an additional 6,942 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Magellan Health by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 305,333 shares of the company’s stock valued at $29,479,000 after buying an additional 10,874 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on the company. ValuEngine raised Magellan Health from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub raised Magellan Health from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 7th. Zacks Investment Research lowered Magellan Health from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. Raymond James Financial reaffirmed a “hold” rating on shares of Magellan Health in a report on Saturday, December 2nd. Finally, KeyCorp set a $105.00 target price on Magellan Health and gave the stock a “buy” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $96.00.
Shares of Magellan Health Inc (MGLN) opened at $106.55 on Tuesday. The stock has a market capitalization of $2,570.00, a price-to-earnings ratio of 23.84, a PEG ratio of 1.23 and a beta of 0.49. Magellan Health Inc has a 1-year low of $64.05 and a 1-year high of $109.80. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.58.
Magellan Health (NASDAQ:MGLN) last released its earnings results on Tuesday, February 27th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.26. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.62 billion. Magellan Health had a return on equity of 10.86% and a net margin of 1.89%. Magellan Health’s quarterly revenue was up 34.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.80 EPS. research analysts anticipate that Magellan Health Inc will post 5.89 earnings per share for the current year.
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Magellan Health 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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