Magellan Health (NASDAQ:MGLN) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
Other analysts have also recently issued reports about the company. Raymond James lowered their price objective on Magellan Health from $85.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, November 12th. Leerink Swann cut Magellan Health from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $90.00 to $70.00 in a research report on Tuesday, November 13th. Zacks Investment Research upgraded Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. BidaskClub upgraded Magellan Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 31st. Finally, Stephens assumed coverage on Magellan Health in a research report on Monday, January 14th. They set an “equal weight” rating and a $68.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $79.50.
MGLN opened at $70.50 on Wednesday. The company has a market cap of $1.58 billion, a PE ratio of 12.82, a PEG ratio of 1.97 and a beta of 0.47. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.55. Magellan Health has a 1 year low of $51.88 and a 1 year high of $112.25.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MGLN. PNC Financial Services Group Inc. bought a new stake in shares of Magellan Health during the fourth quarter valued at approximately $44,000. Financial Gravity Companies Inc. bought a new stake in Magellan Health in the fourth quarter valued at $47,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Magellan Health by 22.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,831 shares of the company’s stock valued at $104,000 after acquiring an additional 332 shares during the period. Pearl River Capital LLC bought a new stake in Magellan Health in the fourth quarter valued at $132,000. Finally, Resources Investment Advisors Inc. bought a new stake in Magellan Health in the fourth quarter valued at $193,000. Institutional investors and hedge funds own 94.77% 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.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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