Magellan Health (MGLN) Shares Sold by Macquarie Group Ltd.

Macquarie Group Ltd. lessened its position in shares of Magellan Health (NASDAQ:MGLN) by 87.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,100 shares of the company’s stock after selling 7,800 shares during the quarter. Macquarie Group Ltd.’s holdings in Magellan Health were worth $106,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Shelton Capital Management purchased a new stake in Magellan Health during the 4th quarter valued at about $205,000. CIBC Asset Management Inc purchased a new stake in Magellan Health during the 4th quarter valued at about $291,000. Meadow Creek Investment Management LLC grew its stake in Magellan Health by 20.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the company’s stock valued at $330,000 after purchasing an additional 588 shares during the last quarter. Ellington Management Group LLC grew its stake in Magellan Health by 44.0% during the 4th quarter. Ellington Management Group LLC now owns 3,600 shares of the company’s stock valued at $348,000 after purchasing an additional 1,100 shares during the last quarter. Finally, HBK Investments L P grew its stake in Magellan Health by 39.1% during the 4th quarter. HBK Investments L P now owns 4,132 shares of the company’s stock valued at $399,000 after purchasing an additional 1,162 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

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MGLN has been the topic of several research analyst reports. ValuEngine downgraded Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research cut Magellan Health from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. BidaskClub raised Magellan Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 17th. Finally, Leerink Swann raised Magellan Health from a “market perform” rating to an “outperform” rating in a report on Thursday, March 15th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $97.50.

In other news, General Counsel Daniel N. Gregoire sold 22,875 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $99.05, for a total value of $2,265,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Barry M. Smith sold 13,375 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $101.20, for a total value of $1,353,550.00. Following the completion of the transaction, the chief executive officer now directly owns 42,807 shares of the company’s stock, valued at approximately $4,332,068.40. The disclosure for this sale can be found here. In the last three months, insiders sold 78,428 shares of company stock valued at $7,858,688. Insiders own 4.60% of the company’s stock.

Shares of MGLN stock opened at $111.00 on Thursday. The stock has a market capitalization of $2,679.07, a PE ratio of 20.18, a P/E/G ratio of 1.15 and a beta of 0.50. 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 52-week low of $67.20 and a 52-week high of $112.15.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.26. The business 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%. The company’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 EPS. equities research analysts expect that Magellan Health will post 6.32 earnings per share for the current fiscal year.

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Magellan Health Profile

Magellan Health, Inc provides healthcare management services in the United States. It 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 for health plans, care organizations, and employers.

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Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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