Magellan Health (NASDAQ:MGLN) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Monday, ValuEngine reports.

Separately, BidaskClub raised Magellan Health from a “sell” rating to a “hold” rating in a report on Friday, May 1st.

Magellan Health stock traded up $1.25 during trading hours on Monday, hitting $70.35. The stock had a trading volume of 115,085 shares, compared to its average volume of 201,867. The stock’s 50-day moving average price is $71.13 and its 200-day moving average price is $65.93. The stock has a market capitalization of $1.73 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.23 and a beta of 1.20. Magellan Health has a 12-month low of $30.60 and a 12-month high of $81.04. The company has a quick ratio of 1.71, a current ratio of 1.75 and a debt-to-equity ratio of 0.45.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data on Monday, May 11th. The company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.43. Magellan Health had a net margin of 1.02% and a return on equity of 8.02%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts expect that Magellan Health will post 3.1 EPS for the current fiscal year.

In other news, COO James E. Murray acquired 4,500 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $67.63 per share, for a total transaction of $304,335.00. Following the transaction, the chief operating officer now directly owns 4,500 shares of the company’s stock, valued at $304,335. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jeffrey N. West sold 1,415 shares of Magellan Health stock in a transaction on Monday, June 8th. The shares were sold at an average price of $78.50, for a total transaction of $111,077.50. Following the transaction, the senior vice president now owns 24,430 shares in the company, valued at approximately $1,917,755. The disclosure for this sale can be found here. Corporate insiders own 14.10% of the company’s stock.

Large investors have recently bought and sold shares of the business. Citigroup Inc. boosted its stake in shares of Magellan Health by 32.4% in the fourth quarter. Citigroup Inc. now owns 36,947 shares of the company’s stock worth $2,891,000 after acquiring an additional 9,040 shares during the period. Geode Capital Management LLC boosted its stake in Magellan Health by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 329,254 shares of the company’s stock worth $25,763,000 after purchasing an additional 11,659 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Magellan Health by 18.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,224 shares of the company’s stock valued at $684,000 after buying an additional 2,250 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Magellan Health by 98.2% during the first quarter. Nuveen Asset Management LLC now owns 271,159 shares of the company’s stock valued at $13,045,000 after buying an additional 134,329 shares during the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV bought a new stake in shares of Magellan Health during the fourth quarter valued at approximately $230,000. 99.32% of the stock is currently owned by institutional investors and hedge funds.

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.

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