Dean Investment Associates LLC Raises Holdings in Magellan Health (MGLN)

Dean Investment Associates LLC grew its holdings in shares of Magellan Health (NASDAQ:MGLN) by 17.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,345 shares of the company’s stock after purchasing an additional 8,365 shares during the period. Dean Investment Associates LLC owned 0.22% of Magellan Health worth $5,927,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Meadow Creek Investment Management LLC raised its holdings 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 worth $330,000 after purchasing an additional 588 shares during the period. BlackRock Inc. raised its holdings in shares of Magellan Health by 5.2% during the fourth quarter. BlackRock Inc. now owns 3,206,577 shares of the company’s stock worth $309,596,000 after purchasing an additional 159,726 shares during the period. Bessemer Group Inc. raised its holdings in shares of Magellan Health by 31.2% during the fourth quarter. Bessemer Group Inc. now owns 18,500 shares of the company’s stock worth $1,786,000 after purchasing an additional 4,400 shares during the period. James Investment Research Inc. acquired a new stake in shares of Magellan Health during the fourth quarter worth $3,343,000. Finally, California Public Employees Retirement System raised its holdings in shares of Magellan Health by 1.3% during the fourth quarter. California Public Employees Retirement System now owns 82,825 shares of the company’s stock worth $7,997,000 after purchasing an additional 1,081 shares during the period. 95.20% of the stock is currently owned by institutional investors.

A number of brokerages have weighed in on MGLN. ValuEngine raised shares of Magellan Health from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. BidaskClub raised shares of Magellan Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 17th. Zacks Investment Research cut shares of Magellan Health from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Raymond James raised shares of Magellan Health from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 1st. Finally, Leerink Swann raised shares of Magellan Health from a “market perform” rating to an “outperform” rating in a report on Thursday, March 15th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Magellan Health has a consensus rating of “Buy” and a consensus price target of $97.50.

MGLN stock opened at $91.55 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 1.64. Magellan Health has a fifty-two week low of $67.50 and a fifty-two week high of $112.25. The stock has a market capitalization of $2.25 billion, a P/E ratio of 16.65, a PEG ratio of 1.04 and a beta of 0.52.

Magellan Health (NASDAQ:MGLN) last released its quarterly earnings data on Thursday, April 26th. The company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 last year, the business earned $1.09 EPS. The firm’s revenue 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.

In related news, General Counsel Daniel N. Gregoire sold 22,875 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $99.05, for a total value of $2,265,768.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mostafa Kamal sold 15,428 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $99.04, for a total transaction of $1,527,989.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,428 shares of company stock worth $7,682,405. Corporate insiders own 4.60% of the company’s stock.

Magellan Health Company 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)

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