Today, Magellan Health Services Inc. (MGLN) PT Raised to $69.00 at Barclays PLC

Today, Magellan Health Services Inc. (MGLN) PT Raised to $69.00 at Barclays PLC

Magellan Health Services Inc. (NASDAQ:MGLN) had its price objective raised by equities researchers at Barclays PLC from $61.00 to $69.00 in a research note issued to investors on Wednesday. The brokerage currently has an “underweight” rating on the stock. Barclays PLC’s price objective would indicate a potential downside of 3.63% from the company’s current price.

Other analysts have also issued reports about the company. Jefferies Group reaffirmed a “buy” rating and issued a $78.00 target price on shares of Magellan Health Services in a research report on Friday, November 18th. TheStreet lowered Magellan Health Services from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Leerink Swann reaffirmed a “hold” rating on shares of Magellan Health Services in a research report on Friday, August 12th. Finally, Zacks Investment Research lowered Magellan Health Services from a “buy” rating to a “sell” rating in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Magellan Health Services currently has a consensus rating of “Hold” and an average target price of $74.00.

Shares of Magellan Health Services (NASDAQ:MGLN) opened at 71.60 on Wednesday. Magellan Health Services has a 52-week low of $49.50 and a 52-week high of $72.31. The firm has a market capitalization of $1.66 billion, a PE ratio of 25.03 and a beta of 0.48. The stock has a 50 day moving average price of $57.30 and a 200-day moving average price of $60.88.

Magellan Health Services (NASDAQ:MGLN) last issued its earnings results on Wednesday, November 9th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.72. Magellan Health Services had a return on equity of 7.96% and a net margin of 1.45%. The business earned $1.29 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the company posted $0.76 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Magellan Health Services will post $2.97 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Magellan Health Services by 40.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 12,170 shares of the company’s stock worth $654,000 after buying an additional 3,500 shares in the last quarter. Credit Suisse AG raised its stake in shares of Magellan Health Services by 43.4% in the third quarter. Credit Suisse AG now owns 68,599 shares of the company’s stock worth $3,685,000 after buying an additional 20,774 shares in the last quarter. Panagora Asset Management Inc. raised its position in Magellan Health Services by 50.9% in the third quarter. Panagora Asset Management Inc. now owns 82,525 shares of the company’s stock valued at $4,434,000 after buying an additional 27,846 shares in the last quarter. Highbridge Capital Management LLC raised its position in Magellan Health Services by 131.7% in the third quarter. Highbridge Capital Management LLC now owns 11,182 shares of the company’s stock valued at $601,000 after buying an additional 6,356 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Magellan Health Services by 10.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 168,769 shares of the company’s stock valued at $9,068,000 after buying an additional 15,846 shares in the last quarter. 91.96% of the stock is owned by hedge funds and other institutional investors.

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