Today: Magellan Health Services Inc. (MGLN) Stock Rating Reaffirm by Leerink Swann

Today: Magellan Health Services Inc. (MGLN) Stock Rating Reaffirm by Leerink Swann

Magellan Health Services Inc. (NASDAQ:MGLN)‘s stock had its “market perform” rating reaffirmed by investment analysts at Leerink Swann in a note issued to investors on Monday. They presently have a $78.00 price objective on the stock, up from their previous price objective of $60.00. Leerink Swann’s target price would indicate a potential upside of 7.73% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. TheStreet cut shares of Magellan Health Services from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Zacks Investment Research cut shares of Magellan Health Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Jefferies Group reiterated a “buy” rating and set a $78.00 target price on shares of Magellan Health Services in a research report on Friday, November 18th. Finally, Barclays PLC upped their target price on shares of Magellan Health Services from $61.00 to $69.00 and gave the company an “underweight” rating in a research report on Wednesday, November 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Magellan Health Services currently has an average rating of “Hold” and a consensus target price of $75.00.

Shares of Magellan Health Services (NASDAQ:MGLN) opened at 72.40 on Monday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 25.31 and a beta of 0.48. Magellan Health Services has a one year low of $49.50 and a one year high of $72.40. The company’s 50 day moving average price is $57.93 and its 200 day moving average price is $60.91.

Magellan Health Services (NASDAQ:MGLN) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.72. Magellan Health Services had a net margin of 1.45% and a return on equity of 7.96%. The firm earned $1.29 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $0.76 EPS. Magellan Health Services’s revenue was up 8.6% on a year-over-year basis. On average, analysts expect that Magellan Health Services will post $3.11 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in MGLN. Fisher Asset Management raised its position in shares of Magellan Health Services by 56.2% in the fourth quarter. Fisher Asset Management now owns 769,436 shares of the company’s stock valued at $47,443,000 after buying an additional 276,784 shares during the period. Capstone Asset Management Company raised its position in shares of Magellan Health Services by 3.1% in the fourth quarter. Capstone Asset Management Company now owns 12,626 shares of the company’s stock valued at $779,000 after buying an additional 380 shares during the period. First Quadrant L P CA raised its position in shares of Magellan Health Services by 9.0% in the fourth quarter. First Quadrant L P CA now owns 45,000 shares of the company’s stock valued at $2,775,000 after buying an additional 3,700 shares during the period. Capital Fund Management S.A. purchased a new position in shares of Magellan Health Services during the fourth quarter valued at about $771,000. Finally, Punch & Associates Investment Management Inc. raised its position in shares of Magellan Health Services by 6.5% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 82,845 shares of the company’s stock valued at $5,108,000 after buying an additional 5,091 shares during the period. 93.40% of the stock is owned by institutional investors.

Magellan Health Services Company Profile

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