Campbell & CO Investment Adviser LLC Sells 1,001 Shares of Magellan Health, Inc. (NASDAQ:MGLN)

Campbell & CO Investment Adviser LLC lowered its position in shares of Magellan Health, Inc. (NASDAQ:MGLN) by 19.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,132 shares of the company’s stock after selling 1,001 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Magellan Health were worth $301,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC boosted its stake in shares of Magellan Health by 2.9% in the second quarter. Aviance Capital Partners LLC now owns 22,662 shares of the company’s stock worth $1,652,000 after buying an additional 637 shares in the last quarter. First Midwest Bank Trust Division boosted its stake in shares of Magellan Health by 21.4% in the second quarter. First Midwest Bank Trust Division now owns 9,763 shares of the company’s stock worth $712,000 after buying an additional 1,720 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Magellan Health by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 155,856 shares of the company’s stock worth $11,362,000 after buying an additional 3,122 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Magellan Health by 14.4% in the second quarter. Aperio Group LLC now owns 12,901 shares of the company’s stock worth $940,000 after buying an additional 1,627 shares in the last quarter. Finally, Alpha Windward LLC boosted its stake in shares of Magellan Health by 7.8% in the second quarter. Alpha Windward LLC now owns 6,600 shares of the company’s stock worth $481,000 after buying an additional 480 shares in the last quarter. 92.28% of the stock is owned by hedge funds and other institutional investors.

Magellan Health, Inc. (NASDAQ MGLN) opened at 77.20 on Friday. The company’s 50-day moving average price is $76.65 and its 200 day moving average price is $72.22. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 21.98 and a beta of 0.59. Magellan Health, Inc. has a 52 week low of $49.50 and a 52 week high of $84.71.

Magellan Health (NASDAQ:MGLN) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.48. Magellan Health had a return on equity of 8.88% and a net margin of 1.59%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, analysts predict that Magellan Health, Inc. will post $5.13 EPS for the current year.

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A number of analysts have weighed in on the company. BidaskClub raised Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised Magellan Health from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Tuesday, July 18th. KeyCorp raised Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price objective for the company in a research report on Thursday, July 13th. Finally, Leerink Swann reissued an “outperform” rating and set a $73.00 price objective (up previously from $68.00) on shares of Magellan Health in a research report on Sunday, June 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $82.20.

In other news, General Counsel Daniel N. Gregoire sold 33,574 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $80.11, for a total transaction of $2,689,613.14. Following the completion of the transaction, the general counsel now directly owns 14,633 shares of the company’s stock, valued at approximately $1,172,249.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Daniel N. Gregoire sold 4,559 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $80.68, for a total transaction of $367,820.12. Following the transaction, the general counsel now directly owns 18,016 shares of the company’s stock, valued at $1,453,530.88. The disclosure for this sale can be found here. Insiders have sold a total of 97,943 shares of company stock valued at $7,846,757 over the last three months. Insiders own 3.60% of the company’s stock.

Magellan Health Company Profile

Magellan Health, Inc is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC).

Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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