Affinity Investment Advisors LLC Takes Position in Magellan Health (MGLN)

Affinity Investment Advisors LLC bought a new position in shares of Magellan Health (NASDAQ:MGLN) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,534 shares of the company’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gotham Asset Management LLC bought a new stake in Magellan Health in the 4th quarter valued at $201,000. Shelton Capital Management bought a new stake in Magellan Health in the 4th quarter valued at $205,000. Trexquant Investment LP bought a new stake in Magellan Health in the 1st quarter valued at $260,000. Xact Kapitalforvaltning AB bought a new stake in Magellan Health in the 4th quarter valued at $275,000. Finally, CIBC Asset Management Inc bought a new stake in Magellan Health in the 4th quarter valued at $291,000. Institutional investors own 95.20% of the company’s stock.

In other Magellan Health news, General Counsel Daniel N. Gregoire sold 22,875 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Barry M. Smith sold 13,375 shares of the company’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $86.02, for a total value of $1,150,517.50. Following the completion of the sale, the chief executive officer now owns 57,605 shares in the company, valued at approximately $4,955,182.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,428 shares of company stock valued at $7,682,405. Insiders own 4.60% of the company’s stock.

MGLN has been the subject of several recent research 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 downgraded Magellan Health from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. BidaskClub cut Magellan Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 28th. Leerink Swann raised Magellan Health from a “market perform” rating to an “outperform” rating in a report on Thursday, March 15th. Finally, Raymond James raised Magellan Health from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $97.50.

Shares of Magellan Health opened at $87.45 on Tuesday, according to MarketBeat. Magellan Health has a 12-month low of $87.30 and a 12-month high of $88.55. The company has a quick ratio of 1.60, a current ratio of 1.64 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.99 and a beta of 0.52.

Magellan Health (NASDAQ:MGLN) last issued its earnings results on Thursday, April 26th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.20). Magellan Health had a return on equity of 10.72% and a net margin of 1.64%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company earned $1.09 EPS. Magellan Health’s revenue for the quarter was up 38.3% on a year-over-year basis. research analysts forecast that Magellan Health will post 5.69 earnings per share for the current fiscal year.

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.

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

Receive News & Ratings for Magellan Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply