In a report released today, Michael J. Baker from Raymond James upgraded Magellan Health (NASDAQ: MGLN) to Buy. The company’s shares closed yesterday at $83.85.
According to TipRanks.com, Baker is a 2-star analyst with an average return of 0.3% and a 63.6% success rate. Baker covers the Services sector, focusing on stocks such as Molina Healthcare, Medpace Holdings, and Express Scripts.
Currently, the analyst consensus on Magellan Health is Strong Buy and the average price target is $104, representing a 24.0% upside.
In a report issued on April 26, Jefferies also maintained a Buy rating on the stock with a $108 price target.
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Magellan Health’s market cap is currently $2.06B and has a P/E ratio of 20.11. The company has a book value ratio of 1.5822.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MGLN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Magellan Health, Inc. engages in the healthcare management business. It operates through the following segments: Healthcare, Pharmacy Management, and Corporate. The Healthcare segment comprises of the Commercial and Government reporting units.
