Strs Ohio increased its stake in shares of Magellan Health Services Inc. (NASDAQ:MGLN) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,500 shares of the company’s stock after buying an additional 700 shares during the period. Strs Ohio’s holdings in Magellan Health Services were worth $1,085,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Prudential PLC bought a new stake in Magellan Health Services during the first quarter valued at about $16,602,000. Prudential Financial Inc. raised its stake in Magellan Health Services by 355.6% in the first quarter. Prudential Financial Inc. now owns 286,037 shares of the company’s stock valued at $19,430,000 after buying an additional 223,250 shares during the last quarter. Bogle Investment Management L P DE bought a new stake in Magellan Health Services during the first quarter valued at about $8,382,000. Old Mutual Global Investors UK Ltd. bought a new stake in Magellan Health Services during the second quarter valued at about $3,593,000. Finally, Goldman Sachs Group Inc. raised its stake in Magellan Health Services by 79.7% in the first quarter. Goldman Sachs Group Inc. now owns 119,269 shares of the company’s stock valued at $8,102,000 after buying an additional 52,916 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.
Shares of Magellan Health Services Inc. (NASDAQ:MGLN) traded up 0.28% during midday trading on Friday, hitting $53.53. The company had a trading volume of 100,669 shares. The company has a market capitalization of $1.32 billion, a PE ratio of 36.41 and a beta of 0.49. Magellan Health Services Inc. has a 12 month low of $45.40 and a 12 month high of $72.31. The company has a 50-day moving average of $54.33 and a 200-day moving average of $63.18.
Magellan Health Services (NASDAQ:MGLN) last announced its earnings results on Friday, July 29th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.04. Magellan Health Services had a net margin of 0.77% and a return on equity of 6.33%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company earned $0.56 EPS. Magellan Health Services’s revenue was up .5% compared to the same quarter last year. Analysts predict that Magellan Health Services Inc. will post $2.38 earnings per share for the current year.
Several equities research analysts have recently issued reports on MGLN shares. Zacks Investment Research raised Magellan Health Services from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Thursday, July 21st. TheStreet lowered Magellan Health Services from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. KeyCorp started coverage on Magellan Health Services in a research note on Thursday, June 30th. They issued an “equal weight” rating for the company. Jefferies Group reaffirmed a “buy” rating and issued a $76.00 price objective (down from $86.00) on shares of Magellan Health Services in a research note on Monday, September 26th. Finally, Leerink Swann reaffirmed a “hold” rating on shares of Magellan Health Services in a research note on Friday, August 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Magellan Health Services currently has an average rating of “Hold” and a consensus target price of $71.33.
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).