Wall Street brokerages expect Magellan Health Inc (NASDAQ:MGLN) to post sales of $1.88 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Magellan Health’s earnings. The lowest sales estimate is $1.85 billion and the highest is $1.92 billion. Magellan Health posted sales of $1.69 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.2%. The firm is expected to announce its next quarterly earnings results on Tuesday, February 26th.

On average, analysts expect that Magellan Health will report full year sales of $7.35 billion for the current financial year, with estimates ranging from $7.32 billion to $7.39 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.11 billion, with estimates ranging from $7.01 billion to $7.21 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Magellan Health.

Magellan Health (NASDAQ:MGLN) last issued its earnings results on Wednesday, November 7th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.28. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Magellan Health had a return on equity of 10.93% and a net margin of 1.49%. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 EPS.

Several brokerages have recently commented on MGLN. TheStreet lowered Magellan Health from a “b-” rating to a “c+” rating in a research note on Friday, November 9th. ValuEngine lowered Magellan Health from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. BidaskClub lowered Magellan Health from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 31st. Raymond James decreased their price target on Magellan Health from $105.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, July 30th. Finally, Zacks Investment Research lowered Magellan Health from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Magellan Health has an average rating of “Hold” and a consensus price target of $88.75.

Several institutional investors have recently made changes to their positions in MGLN. AQR Capital Management LLC lifted its stake in Magellan Health by 29.4% during the 3rd quarter. AQR Capital Management LLC now owns 135,850 shares of the company’s stock worth $9,788,000 after acquiring an additional 30,858 shares in the last quarter. MetLife Investment Advisors LLC lifted its stake in Magellan Health by 56.4% during the 3rd quarter. MetLife Investment Advisors LLC now owns 17,356 shares of the company’s stock worth $1,250,000 after acquiring an additional 6,256 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Magellan Health by 269.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 326,200 shares of the company’s stock worth $23,503,000 after acquiring an additional 238,013 shares in the last quarter. Verition Fund Management LLC lifted its stake in Magellan Health by 78.2% during the 3rd quarter. Verition Fund Management LLC now owns 4,611 shares of the company’s stock worth $332,000 after acquiring an additional 2,023 shares in the last quarter. Finally, Man Group plc lifted its stake in Magellan Health by 24.8% during the 3rd quarter. Man Group plc now owns 263,635 shares of the company’s stock worth $18,995,000 after acquiring an additional 52,359 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:MGLN opened at $56.06 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 1.67. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 1.60 and a beta of 0.52. Magellan Health has a 52-week low of $54.71 and a 52-week high of $112.25.

About Magellan Health

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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Earnings History and Estimates for Magellan Health (NASDAQ:MGLN)

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