Today, Magellan Health Services’ (MGLN) “Market Perform” Rating Reaffirm at Leerink Swann

Today, Magellan Health Services’ (MGLN) “Market Perform” Rating Reaffirm at Leerink Swann

Leerink Swann restated their market perform rating on shares of Magellan Health Services Inc. (NASDAQ:MGLN) in a research report released on Monday. They currently have a $78.00 price target on the stock, up from their prior price target of $60.00.

A number of other equities research analysts have also recently commented on MGLN. Jefferies Group set a $76.00 target price on shares of Magellan Health Services and gave the company a buy rating in a report on Saturday, October 15th. 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 report on Wednesday, November 23rd. Zacks Investment Research raised shares of Magellan Health Services from a sell rating to a strong-buy rating and set a $75.00 price target for the company in a report on Saturday, November 12th. Finally, TheStreet cut shares of Magellan Health Services from a buy rating to a hold rating in a report on Friday, August 19th. 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 given a strong buy rating to the company’s stock. Magellan Health Services presently has a consensus rating of Hold and a consensus target price of $75.00.

Shares of Magellan Health Services (NASDAQ:MGLN) opened at 71.95 on Monday. The company has a 50-day moving average price of $58.43 and a 200 day moving average price of $60.87. The firm has a market capitalization of $1.67 billion, a PE ratio of 25.15 and a beta of 0.48. Magellan Health Services has a 12-month low of $49.50 and a 12-month high of $72.85.

Magellan Health Services (NASDAQ:MGLN) last announced 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 net margin of 1.45% and a return on equity of 7.96%. The business earned $1.29 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts expect that Magellan Health Services will post $3.11 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Societe Generale bought a new position in shares of Magellan Health Services during the second quarter valued at $331,000. Chicago Equity Partners LLC raised its position in shares of Magellan Health Services by 30.2% in the second quarter. Chicago Equity Partners LLC now owns 35,940 shares of the company’s stock valued at $2,364,000 after buying an additional 8,330 shares during the last quarter. First Midwest Bank Trust Division raised its position in shares of Magellan Health Services by 47.8% in the second quarter. First Midwest Bank Trust Division now owns 9,353 shares of the company’s stock valued at $615,000 after buying an additional 3,023 shares during the last quarter. Strs Ohio raised its position in shares of Magellan Health Services by 4.4% in the second quarter. Strs Ohio now owns 16,500 shares of the company’s stock valued at $1,085,000 after buying an additional 700 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Magellan Health Services during the second quarter valued at $3,462,000. Institutional investors own 93.40% of the company’s stock.

Magellan Health Services Company Profile

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