Public Sector Pension Investment Board trimmed its holdings in Magellan Health Inc (NASDAQ:MGLN) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,749 shares of the company’s stock after selling 6,350 shares during the quarter. Public Sector Pension Investment Board’s holdings in Magellan Health were worth $3,815,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. boosted its position in shares of Magellan Health by 32.4% in the fourth quarter. Citigroup Inc. now owns 36,947 shares of the company’s stock valued at $2,891,000 after acquiring an additional 9,040 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Magellan Health in the third quarter valued at approximately $229,000. Parametric Portfolio Associates LLC boosted its position in shares of Magellan Health by 0.3% in the third quarter. Parametric Portfolio Associates LLC now owns 285,832 shares of the company’s stock valued at $17,750,000 after acquiring an additional 935 shares during the period. Millennium Management LLC boosted its position in shares of Magellan Health by 15.3% in the third quarter. Millennium Management LLC now owns 230,807 shares of the company’s stock valued at $14,333,000 after acquiring an additional 30,689 shares during the period. Finally, Advisors Preferred LLC bought a new stake in shares of Magellan Health in the fourth quarter valued at approximately $261,000. 99.18% of the stock is owned by institutional investors.
Several research analysts recently commented on MGLN shares. ValuEngine raised Magellan Health from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. BidaskClub cut Magellan Health from a “hold” rating to a “sell” rating in a research report on Thursday, March 19th. Finally, TheStreet raised Magellan Health from a “c+” rating to a “b-” rating in a research report on Tuesday, February 25th.
MGLN stock traded up $1.21 during midday trading on Thursday, hitting $45.86. The stock had a trading volume of 28,153 shares, compared to its average volume of 300,813. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 0.54 and a beta of 0.82. Magellan Health Inc has a 52 week low of $30.60 and a 52 week high of $81.04. The stock has a 50-day simple moving average of $60.53 and a 200 day simple moving average of $67.95. The company has a current ratio of 1.84, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49.
Magellan Health (NASDAQ:MGLN) last issued its earnings results on Friday, February 28th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.96 by $0.28. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Magellan Health had a return on equity of 6.81% and a net margin of 0.78%. Magellan Health’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business earned ($0.77) earnings per share. On average, equities analysts forecast that Magellan Health Inc will post 3.77 EPS for the current year.
Magellan Health 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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