Smith Graham Investment Advisors Lp buys $10,803,702 stake in Magellan Health Inc (MGLN)

Magellan Health Inc (MGLN) : Smith Graham Investment Advisors Lp scooped up 5,440 additional shares in Magellan Health Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 26, 2016. The investment management firm now holds a total of 153,331 shares of Magellan Health Inc which is valued at $10,803,702.Magellan Health Inc makes up approximately 1.41% of Smith Graham Investment Advisors Lp’s portfolio.

Magellan Health Inc closed down -1.24 points or -1.76% at $69.22 with 2,64,460 shares getting traded on Monday. Post opening the session at $70.98, the shares hit an intraday low of $68.82 and an intraday high of $71.84 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Glenmede Trust Co Na boosted its stake in MGLN in the latest quarter, The investment management firm added 390 additional shares and now holds a total of 522 shares of Magellan Health Inc which is valued at $36,780.Louisiana State Employees Retirement System reduced its stake in MGLN by selling 400 shares or 3.54% in the most recent quarter. The Hedge Fund company now holds 10,900 shares of MGLN which is valued at $768,014. Magellan Health Inc makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio. Healthinvest Partners Ab sold out all of its stake in MGLN during the most recent quarter. The investment firm sold 248,934 shares of MGLN which is valued $17,716,633. First Citizens Bank Trust Co added MGLN to its portfolio by purchasing 17,761 company shares during the most recent quarter which is valued at $1,264,050. Magellan Health Inc makes up approx 0.10% of First Citizens Bank Trust Co’s portfolio.Fisher Asset Management reduced its stake in MGLN by selling 3,654 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 765,782 shares of MGLN which is valued at $54,500,705. Magellan Health Inc makes up approx 0.11% of Fisher Asset Management’s portfolio.

On the company’s financial health, Magellan Health Inc reported $1.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.36 according to the earnings call on Feb 29, 2016. Analyst had a consensus of $1.03. The company had revenue of $1268.74 million for the quarter, compared to analysts expectations of $1223.71 million. The company’s revenue was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

Many Wall Street Analysts have commented on Magellan Health Inc. Company shares were Reiterated by Barclays on Mar 1, 2016 to “Underweight”, Firm has raised the Price Target to $ 64 from a previous price target of $61 .

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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