Magellan Health Inc (MGLN) Releases Earnings Results, Misses Expectations By $-0.21 EPS

Magellan Health Inc (MGLN) reported quarterly earnings results on Friday, Jul-29-2016. The company reported $0.58 earnings per share for the quarter, missing the analyst consensus estimate by $-0.21. Analysts had a consensus of $0.79. The company posted revenue of $1164.30 million in the period, compared to analysts expectations of $1156.47 million. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Magellan Health Inc closed down -0.11 points or -0.15% at $71.14 with 2,15,473 shares getting traded on Thursday. Post opening the session at $71.04, the shares hit an intraday low of $68.48 and an intraday high of $71.79 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jul 15, 2016, Jeffrey N West (SVP & Controller) purchased 267 shares at $51.99 per share price. According to the SEC, 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.

Magellan Health Inc

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