Today, Jefferies Group Weighs in on Magellan Health Services Inc.’s Q1 2017 Earnings (MGLN)

Today, Jefferies Group Weighs in on Magellan Health Services Inc.’s Q1 2017 Earnings (MGLN)
Magellan Health Services Inc. (NASDAQ:MGLN) – Equities researchers at Jefferies Group increased their Q1 2017 earnings per share estimates for shares of Magellan Health Services in a note issued to investors on Tuesday. Jefferies Group analyst D. Styblo now expects that the firm will post earnings of $0.87 per share for the quarter, up from their previous forecast of $0.76. Jefferies Group has a “Buy” rating and a $78.00 price target on the stock. Jefferies Group also issued estimates for Magellan Health Services’ Q2 2017 earnings at $0.90 EPS and Q3 2017 earnings at $1.05 EPS.

Magellan Health Services (NASDAQ:MGLN) last released its quarterly earnings data on Wednesday, November 9th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.72. The company earned $1.29 billion during the quarter, compared to the consensus estimate of $1.22 billion. Magellan Health Services had a net margin of 1.45% and a return on equity of 7.96%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $0.76 EPS.

MGLN has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Magellan Health Services from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. TheStreet downgraded shares of Magellan Health Services from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Leerink Swann restated a “hold” rating on shares of Magellan Health Services in a report on Friday, August 12th. Finally, Barclays PLC upped their price objective on shares of Magellan Health Services from $61.00 to $69.00 and gave the company an “underweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Magellan Health Services presently has an average rating of “Hold” and a consensus price target of $74.00.

Magellan Health Services (NASDAQ:MGLN) opened at 71.60 on Thursday. Magellan Health Services has a 12-month low of $49.50 and a 12-month high of $72.31. The stock’s 50 day moving average is $57.30 and its 200-day moving average is $60.88. The company has a market capitalization of $1.66 billion, a P/E ratio of 25.03 and a beta of 0.48.

Institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its position in Magellan Health Services by 18.5% in the second quarter. Acrospire Investment Management LLC now owns 2,568 shares of the company’s stock valued at $169,000 after buying an additional 400 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Magellan Health Services by 275.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,000 shares of the company’s stock worth $197,000 after buying an additional 2,200 shares in the last quarter. PineBridge Investments L.P. raised its position in Magellan Health Services by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,122 shares of the company’s stock worth $205,000 after buying an additional 116 shares in the last quarter. Teacher Retirement System of Texas raised its position in Magellan Health Services by 9.4% in the second quarter. Teacher Retirement System of Texas now owns 3,364 shares of the company’s stock worth $221,000 after buying an additional 288 shares in the last quarter. Finally, BlackRock Inc. raised its position in Magellan Health Services by 134.8% in the second quarter. BlackRock Inc. now owns 3,473 shares of the company’s stock worth $228,000 after buying an additional 1,994 shares in the last quarter. Hedge funds and other institutional investors own 91.96% of the company’s stock.

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