Raymond James analyst Michael J. Baker maintained a Buy rating on Magellan Health (MGLN) today and set a price target of $72. The company’s shares opened today at $63.22, close to its 52-week low of $61.71.
According to TipRanks.com, Baker is a 3-star analyst with an average return of 4.1% and a 64.0% success rate. Baker covers the Services sector, focusing on stocks such as WellCare Health Plans, Charles River Labs, and Molina Healthcare.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Magellan Health with a $81 average price target.
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Based on Magellan Health’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $27.15 million. In comparison, last year the company had a net profit of $32.45 million.
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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.
