Equities research analysts forecast that Magellan Health Inc (NASDAQ:MGLN) will report $1.81 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Magellan Health’s earnings, with the lowest sales estimate coming in at $1.79 billion and the highest estimate coming in at $1.84 billion. Magellan Health reported sales of $1.31 billion in the same quarter last year, which would suggest a positive year over year growth rate of 38.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Magellan Health will report full year sales of $1.81 billion for the current financial year, with estimates ranging from $7.61 billion to $7.66 billion. For the next year, analysts forecast that the company will post sales of $8.14 billion per share, with estimates ranging from $8.06 billion to $8.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Magellan Health.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.26. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Magellan Health had a return on equity of 10.86% and a net margin of 1.89%. Magellan Health’s revenue was up 34.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.80 earnings per share.
Magellan Health (MGLN) opened at $103.50 on Wednesday. The stock has a market capitalization of $2,591.74, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.66 and a quick ratio of 1.62. Magellan Health has a 52-week low of $64.05 and a 52-week high of $109.80.
In related news, General Counsel Daniel N. Gregoire sold 22,875 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $99.05, for a total transaction of $2,265,768.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Barry M. Smith sold 13,367 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $95.94, for a total value of $1,282,429.98. Following the sale, the chief executive officer now directly owns 42,799 shares in the company, valued at approximately $4,106,136.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,863 shares of company stock valued at $9,432,287. Company insiders own 5.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Meadow Creek Investment Management LLC boosted its stake in shares of Magellan Health by 20.8% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the company’s stock valued at $330,000 after acquiring an additional 588 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Magellan Health by 7.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the company’s stock valued at $994,000 after acquiring an additional 700 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Magellan Health by 1.6% during the third quarter. Rhumbline Advisers now owns 50,493 shares of the company’s stock valued at $4,358,000 after acquiring an additional 773 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in shares of Magellan Health by 18.7% during the third quarter. Campbell & CO Investment Adviser LLC now owns 4,906 shares of the company’s stock valued at $423,000 after acquiring an additional 774 shares during the last quarter. Finally, Cortina Asset Management LLC boosted its stake in shares of Magellan Health by 0.9% during the third quarter. Cortina Asset Management LLC now owns 100,739 shares of the company’s stock valued at $8,694,000 after acquiring an additional 885 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.
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Magellan Health Company Profile
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).
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