Vident Investment Advisory LLC lowered its holdings in Magellan Health Inc (NASDAQ:MGLN) by 13.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,290 shares of the company’s stock after selling 3,268 shares during the period. Vident Investment Advisory LLC owned approximately 0.08% of Magellan Health worth $1,481,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of MGLN. Cornercap Investment Counsel Inc. grew its holdings in shares of Magellan Health by 1.1% during the first quarter. Cornercap Investment Counsel Inc. now owns 14,193 shares of the company’s stock valued at $683,000 after buying an additional 159 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Magellan Health by 21.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 949 shares of the company’s stock valued at $46,000 after acquiring an additional 166 shares in the last quarter. Mason Street Advisors LLC increased its holdings in shares of Magellan Health by 2.9% in the 4th quarter. Mason Street Advisors LLC now owns 7,585 shares of the company’s stock valued at $594,000 after purchasing an additional 211 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Magellan Health by 2.3% in the second quarter. Nisa Investment Advisors LLC now owns 14,295 shares of the company’s stock worth $1,043,000 after purchasing an additional 315 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Magellan Health by 1.6% during the first quarter. Swiss National Bank now owns 45,100 shares of the company’s stock worth $2,170,000 after purchasing an additional 700 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.
Shares of MGLN opened at $74.17 on Friday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 4.73 and a beta of 1.22. The company’s fifty day moving average is $72.02 and its 200-day moving average is $65.28. The company has a quick ratio of 1.71, a current ratio of 2.05 and a debt-to-equity ratio of 0.42. Magellan Health Inc has a 12 month low of $30.60 and a 12 month high of $81.04.
Magellan Health (NASDAQ:MGLN) last posted its earnings results on Wednesday, July 29th. The company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.34. Magellan Health had a net margin of 2.20% and a return on equity of 7.74%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The business’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts predict that Magellan Health Inc will post 0.88 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of Magellan Health from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday. BidaskClub upgraded Magellan Health from a “sell” rating to a “hold” rating in a report on Friday, July 24th. Finally, ValuEngine downgraded Magellan Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.50.
In other news, COO James E. Murray acquired 4,500 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $67.63 per share, with a total value of $304,335.00. Following the acquisition, the chief operating officer now owns 4,500 shares in the company, valued at $304,335. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffrey N. West sold 1,415 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $78.50, for a total transaction of $111,077.50. Following the completion of the transaction, the senior vice president now owns 24,430 shares in the company, valued at $1,917,755. The disclosure for this sale can be found here. Corporate insiders own 14.10% of the company’s stock.
About Magellan Health
Magellan Health, Inc provides healthcare management services in the United States. The company operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine.
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