Magellan Health Services Inc. (NASDAQ:MGLN) – Stock analysts at KeyCorp issued their Q1 2017 earnings per share estimates for Magellan Health Services in a research note issued to investors on Tuesday. KeyCorp analyst J. Twizell forecasts that the firm will post earnings of $0.68 per share for the quarter.
MGLN has been the subject of a number of other research reports. Barclays PLC boosted their target price on Magellan Health Services from $61.00 to $69.00 and gave the stock an “underweight” rating in a research report on Wednesday. Jefferies Group restated a “buy” rating and issued a $78.00 target price on shares of Magellan Health Services in a research report on Friday, November 18th. Zacks Investment Research upgraded Magellan Health Services from a “sell” rating to a “strong-buy” rating and set a $75.00 target price for the company in a research report on Saturday, November 12th. Leerink Swann restated a “hold” rating on shares of Magellan Health Services in a research report on Friday, August 12th. Finally, TheStreet downgraded Magellan Health Services from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Magellan Health Services has a consensus rating of “Hold” and a consensus price target of $74.00.
Magellan Health Services (NASDAQ:MGLN) opened at 71.60 on Thursday. The company has a market capitalization of $1.66 billion, a PE ratio of 25.03 and a beta of 0.48. The firm’s 50 day moving average price is $57.30 and its 200-day moving average price is $60.88. Magellan Health Services has a 12-month low of $49.50 and a 12-month high of $72.31.
Magellan Health Services (NASDAQ:MGLN) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.72. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Magellan Health Services had a return on equity of 7.96% and a net margin of 1.45%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 EPS.
Institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC boosted its position in shares of Magellan Health Services by 18.5% in the second quarter. Acrospire Investment Management LLC now owns 2,568 shares of the company’s stock worth $169,000 after buying an additional 400 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of 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 during the period. PineBridge Investments L.P. boosted its position in shares of 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 during the period. Quadrature Capital Ltd bought a new position in shares of Magellan Health Services during the third quarter worth approximately $208,000. Finally, Teacher Retirement System of Texas boosted its position in shares of 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 during the period. 91.96% of the stock is currently owned by institutional investors and hedge funds.
About Magellan Health Services
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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