Smith Graham Investment Advisors Lp buys $7,936,411 stake in Magellan Health Inc (MGLN)

Magellan Health Inc (MGLN) : Smith Graham Investment Advisors Lp scooped up 4,320 additional shares in Magellan Health Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 148,261 shares of Magellan Health Inc which is valued at $7,936,411.Magellan Health Inc makes up approximately 1.03% of Smith Graham Investment Advisors Lp’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in MGLN in the latest quarter, The investment management firm added 23,124 additional shares and now holds a total of 47,135 shares of Magellan Health Inc which is valued at $2,564,144. Creative Planning added MGLN to its portfolio by purchasing 300 company shares during the most recent quarter which is valued at $16,320.Fisher Asset Management boosted its stake in MGLN in the latest quarter, The investment management firm added 9,429 additional shares and now holds a total of 780,537 shares of Magellan Health Inc which is valued at $43,116,864. Magellan Health Inc makes up approx 0.08% of Fisher Asset Management’s portfolio.

Magellan Health Inc opened for trading at $53.81 and hit $54.21 on the upside on Friday, eventually ending the session at $53.53, with a gain of 0.28% or 0.15 points. The heightened volatility saw the trading volume jump to 1,00,669 shares. Company has a market cap of $1,316 M.

On the company’s financial health, Magellan Health Inc reported $0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.21 based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus of $0.79. The company had revenue of $1164.30 million for the quarter, 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. (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.

Leave a Reply

Magellan Health Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Magellan Health Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.