Jefferies Maintains Magellan Health Inc to Buy with Price Target $76.00

Brokerage firm Jefferies Maintains its rating on Magellan Health Inc(NASDAQ:MGLN). In a research note issued to the investors, the brokerage major Lowers the price-target to $76.00 per share. The shares have been rated Buy. The rating by Jefferies was issued on Sep 26, 2016.

Magellan Health Inc (MGLN) made into the market gainers list on Thursdays trading session with the shares advancing 1.73% or 0.93 points. Due to strong positive momentum, the stock ended at $54.84, which is also near the day’s high of $55.36. The stock began the session at $54.31 and the volume stood at 1,68,713 shares. The 52-week high of the shares is $72.31 and the 52 week low is $45.4. The company has a current market capitalization of $1,348 M and it has 2,45,81,451 shares in outstanding.

Magellan Health Inc(MGLN) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.16B. Analysts had an estimated revenue of $1.15B. Earnings per share were $0.58. Analysts had estimated an EPS of $0.62.

Several Insider Transactions has been reported to the SEC. On Jul 15, 2016, Jeffrey N West (SVP & Controller) purchased 267 shares at $51.99 per share price.Also, On Jun 25, 2015, Jonathan N Rubin (Chief Financial Officer) sold 324 shares at $73.00 per share price.On Apr 1, 2015, Tina Blasi (CEO, National Imaging Assoc.) sold 10,527 shares at $70.02 per share price, according to the Form-4 filing with the securities and exchange commission.

Magellan Health Inc. (Magellan) formerly Magellan Health Services Inc. is engaged in the healthcare management business. The Company provides services to health plans managed care organizations (MCOs) employers labor unions military and governmental agencies third party administrators consultants and brokers. Its business is divided into five segments which include managed healthcare specialty solutions and pharmacy management. Two of its segments are in the managed healthcare business. The Managed Healthcare business consists of management of behavioral healthcare services and the management of physical and behavioral healthcare for special populations. The Specialty Solutions business consists of delivery of diagnostic imaging and a variety of other specialty areas. The Pharmacy Management business comprises products and solutions that provide clinical and financial management of drugs paid under medical and pharmacy benefit programs.

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