Today, Leerink Swann Analysts Boost Earnings Estimates for Magellan Health Services Inc. (MGLN)

Today, Leerink Swann Analysts Boost Earnings Estimates for Magellan Health Services Inc. (MGLN)
Magellan Health Services Inc. (NASDAQ:MGLN) – Equities research analysts at Leerink Swann boosted their FY2016 EPS estimates for Magellan Health Services in a report issued on Tuesday. Leerink Swann analyst A. Gupte now forecasts that the brokerage will post earnings of $3.20 per share for the year, up from their previous forecast of $2.45. Leerink Swann has a “Hold” rating on the stock. Leerink Swann also issued estimates for Magellan Health Services’ Q4 2016 earnings at $1.44 EPS and FY2017 earnings at $4.39 EPS.

A number of other research analysts have also commented on MGLN. Jefferies Group set a $76.00 price objective on Magellan Health Services and gave the company a “buy” rating in a report on Saturday, October 15th. Barclays PLC increased their price objective on Magellan Health Services from $61.00 to $69.00 and gave the company an “underweight” rating in a report on Wednesday. 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 note on Saturday, November 12th. Finally, TheStreet downgraded Magellan Health Services from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $74.00.

Magellan Health Services (NASDAQ:MGLN) opened at 72.40 on Thursday. The company’s 50-day moving average price is $57.93 and its 200-day moving average price is $60.91. The company has a market capitalization of $1.68 billion, a P/E ratio of 25.31 and a beta of 0.48. Magellan Health Services has a 52 week low of $49.50 and a 52 week high of $72.40.

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

A number of hedge funds have recently made changes to their positions in MGLN. UBS Group AG increased its stake in shares of Magellan Health Services by 35.2% in the first quarter. UBS Group AG now owns 16,709 shares of the company’s stock valued at $1,135,000 after buying an additional 4,348 shares during the last quarter. Oxford Asset Management acquired a new stake in shares of Magellan Health Services during the second quarter valued at $2,114,000. Alambic Investment Management L.P. increased its stake in shares of Magellan Health Services by 248.5% in the second quarter. Alambic Investment Management L.P. now owns 24,010 shares of the company’s stock valued at $1,579,000 after buying an additional 17,120 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Magellan Health Services during the second quarter valued at $3,462,000. Finally, Vanguard Group Inc. increased its stake in shares of Magellan Health Services by 3.2% in the second quarter. Vanguard Group Inc. now owns 2,021,907 shares of the company’s stock valued at $132,981,000 after buying an additional 61,913 shares during the last quarter. Hedge funds and other institutional investors own 91.96% of the company’s stock.

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