Magellan Health (NASDAQ:MGLN) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

MGLN has been the topic of several other reports. ValuEngine upgraded shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Zacks Investment Research upgraded shares of Magellan Health from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Finally, Bank of America initiated coverage on shares of Magellan Health in a report on Friday, February 22nd. They set a “buy” rating and a $84.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $74.80.

NASDAQ:MGLN opened at $64.82 on Tuesday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 0.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.62 and a current ratio of 1.67. Magellan Health has a 12-month low of $51.88 and a 12-month high of $99.90.

Magellan Health (NASDAQ:MGLN) last released its earnings results on Thursday, May 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Magellan Health had a net margin of 0.18% and a return on equity of 3.83%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. Analysts forecast that Magellan Health will post 3.92 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in MGLN. PNC Financial Services Group Inc. purchased a new position in shares of Magellan Health during the 4th quarter worth about $44,000. Financial Gravity Companies Inc. acquired a new stake in Magellan Health during the 4th quarter worth approximately $47,000. FNY Investment Advisers LLC acquired a new stake in Magellan Health during the 1st quarter worth approximately $52,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Magellan Health by 22.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,831 shares of the company’s stock worth $104,000 after purchasing an additional 332 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new stake in Magellan Health during the 4th quarter worth approximately $132,000. Institutional investors and hedge funds own 98.38% of the company’s stock.

Magellan Health Company Profile

Magellan Health, Inc provides healthcare management services in the United States. The company 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.

Read More: Retained Earnings

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