Magellan Health (MGLN) Releases FY18 Earnings Guidance

Magellan Health (NASDAQ:MGLN) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.37-7.15 for the period, compared to the Thomson Reuters consensus estimate of $5.97. The company issued revenue guidance of $7.5-7.8 billion, compared to the consensus revenue estimate of $7.58 billion.

Magellan Health (MGLN) opened at $103.50 on Wednesday. The firm has a market capitalization of $2,545.52, a price-to-earnings ratio of 20.01, a PEG ratio of 1.23 and a beta of 0.49. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.58. Magellan Health has a one year low of $64.05 and a one year high of $109.80.

Magellan Health (NASDAQ:MGLN) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.26. The company 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 for the quarter was up 34.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 earnings per share. research analysts expect that Magellan Health will post 5.89 EPS for the current fiscal year.

A number of analysts recently commented on MGLN shares. Zacks Investment Research upgraded Magellan Health from a hold rating to a strong-buy rating and set a $112.00 price objective for the company in a research report on Wednesday, December 13th. BidaskClub upgraded Magellan Health from a buy rating to a strong-buy rating in a research report on Thursday, December 7th. ValuEngine upgraded Magellan Health from a hold rating to a buy rating in a research report on Sunday, December 31st. KeyCorp set a $105.00 price objective on Magellan Health and gave the company a buy rating in a research report on Friday, December 1st. Finally, Raymond James Financial reiterated a hold rating on shares of Magellan Health in a research report on Saturday, December 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Magellan Health currently has an average rating of Buy and an average target price of $96.00.

In other Magellan Health news, CEO Barry M. Smith sold 13,367 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $95.94, for a total transaction of $1,282,429.98. Following the completion of the sale, the chief executive officer now owns 42,799 shares of the company’s stock, valued at $4,106,136.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mostafa Kamal sold 15,428 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $99.04, for a total value of $1,527,989.12. The disclosure for this sale can be found here. Insiders have sold 95,863 shares of company stock valued at $9,432,287 in the last three months. 5.00% of the stock is currently owned by corporate insiders.

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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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