November 23, 2016 - By Peter Erickson
New York: In an analyst report published on Wednesday morning, Barclays kept their “Underweight” rating on shares of Magellan Health (NASDAQ:MGLN). They currently have a $69.00 PT on the company. Barclays’s target suggests a potential downside of -3.29% from the company’s previous stock close.
Out of 3 analysts covering Magellan Health (NASDAQ:MGLN), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. $86 is the highest target while $10 is the lowest. The $41.40 average target is -41.94% below today’s ($71.3) stock price. Magellan Health has been the topic of 10 analyst reports since July 29, 2015 according to StockzIntelligence Inc. As per Friday, May 20, the company rating was maintained by Jefferies. Barclays Capital downgraded the shares of MGLN in a report on Wednesday, January 6 to “Underweight” rating. The stock of Magellan Health Inc (NASDAQ:MGLN) has “Sector Perform” rating given on Tuesday, August 11 by Scotia Capital. Jefferies maintained the stock with “Buy” rating in Monday, September 26 report.
About 171,370 shares traded hands. Magellan Health Inc (NASDAQ:MGLN) has declined 0.32% since April 21, 2016 and is downtrending. It has underperformed by 5.65% the S&P500.
Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.42, from 1.33 in 2016Q1. The ratio fall, as 14 funds sold all Magellan Health Inc shares owned while 59 reduced positions. 27 funds bought stakes while 70 increased positions. They now own 22.15 million shares or 19.49% less from 27.51 million shares in 2016Q1.
Allianz Asset Mngmt Ag reported 19,175 shares or 0% of all its holdings. The New York-based Secor Capital Advisors L P has invested 0.22% in Magellan Health Inc (NASDAQ:MGLN). Aperio Group Ltd Com has 0.01% invested in the company for 16,648 shares. Moreover, Blackrock Advsr Ltd has 0% invested in Magellan Health Inc (NASDAQ:MGLN) for 10,620 shares. Ubs Asset Mngmt Americas holds 0% of its portfolio in Magellan Health Inc (NASDAQ:MGLN) for 25,317 shares. Bridgeway Capital Management has 0.05% invested in the company for 53,350 shares. Alliancebernstein L P last reported 41,805 shares in the company. Moreover, Rs Investment Ltd Liability has 0.3% invested in Magellan Health Inc (NASDAQ:MGLN) for 440,306 shares. Principal Financial Gp holds 0.02% or 179,474 shares in its portfolio. Systematic Financial Management Ltd Partnership has invested 0.02% of its portfolio in Magellan Health Inc (NASDAQ:MGLN). Walleye Trading Ltd Liability Corp last reported 1,600 shares in the company. Paradigm Mngmt New York owns 56,100 shares or 0.45% of their US portfolio. The New York-based American has invested 0% in Magellan Health Inc (NASDAQ:MGLN). Northern Trust Corp has invested 0.01% of its portfolio in Magellan Health Inc (NASDAQ:MGLN). Menta Limited Liability Co owns 4,375 shares or 0.04% of their US portfolio.
Magellan Health, Inc. is engaged in the healthcare management business. The company has a market cap of $1.70 billion. The Company’s divisions include Healthcare, Pharmacy Management and Corporate. It has a 24.51 P/E ratio. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare.
According to Zacks Investment Research, “Magellan Health Services is the country’s leading behavioral managed care organization. Its customers include health plans, corporations and government agencies.”
Magellan Health, Inc., incorporated on August 11, 1969, is engaged in the healthcare management business. The Company’s divisions include Healthcare, Pharmacy Management and Corporate. The Firm is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. The Firm provides services to health plans and other managed care organizations (MCOs), employers, labor unions, various military and governmental agencies and third party administrators (TPAs).
More news for Magellan Health Inc (NASDAQ:MGLN) were recently published by: Businesswire.com, which released: “Magellan Health to Expand Experience in Special Population Management with the …” on May 16, 2016. Businesswire.com‘s article titled: “Magellan Health to Expand Capabilities Related to Long-Term Services and Supports” and published on February 09, 2016 is yet another important article.
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