Price Action Report: Is Buying Magellan Health Inc Here a Winning Strategy?

Price Action Report: Is Buying Magellan Health Inc Here a Winning Strategy?

The stock of Magellan Health Inc (NASDAQ:MGLN) reached all time high today, Nov, 29 and still has $74.98 target or 3.00% above today’s $72.80 share price. This indicates more upside for the $1.68 billion company. This technical setup was reported by Barchart.com. If the $74.98 PT is reached, the company will be worth $50.40 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 202,906 shares traded hands. Magellan Health Inc (NASDAQ:MGLN) has risen 0.53% since April 26, 2016 and is uptrending. It has underperformed by 4.73% the S&P500.

Analysts await Magellan Health Inc (NASDAQ:MGLN) to report earnings on March, 6. They expect $1.17 EPS, up 4.46% or $0.05 from last year’s $1.12 per share. MGLN’s profit will be $27.00M for 15.56 P/E if the $1.17 EPS becomes a reality. After $1.25 actual EPS reported by Magellan Health Inc for the previous quarter, Wall Street now forecasts -6.40% negative EPS growth.

Magellan Health Inc (NASDAQ:MGLN) Ratings Coverage

Out of 3 analysts covering Magellan Health (NASDAQ:MGLN), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. Magellan Health has been the topic of 11 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Barclays Capital maintained Magellan Health Inc (NASDAQ:MGLN) rating on Wednesday, November 23. Barclays Capital has “Underweight” rating and $69 price target. As per Tuesday, August 11, the company rating was maintained by Scotia Capital. Jefferies maintained Magellan Health Inc (NASDAQ:MGLN) on Friday, May 20 with “Buy” rating. Barclays Capital downgraded Magellan Health Inc (NASDAQ:MGLN) on Wednesday, January 6 to “Underweight” rating. The firm earned “Buy” rating on Monday, September 26 by Jefferies.

According to Zacks Investment Research, “Magellan Health Services is the country’s leading behavioral managed care organization. Its customers include health plans, corporations and government agencies.”

Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.42, from 1.33 in 2016Q1. The ratio is negative, as 14 funds sold all Magellan Health Inc shares owned while 59 reduced positions. 27 funds bought stakes while 70 increased positions. They now own 22.15 million shares or 19.49% less from 27.51 million shares in 2016Q1.
Seizert Capital Prtnrs Limited Liability Corp accumulated 40,033 shares or 0.1% of the stock. Us Commercial Bank De, a Minnesota-based fund reported 416 shares. Swiss Bank & Trust owns 39,800 shares or 0% of their US portfolio. First Quadrant L P Ca has invested 0.08% of its portfolio in Magellan Health Inc (NASDAQ:MGLN). Martingale Asset Mgmt Limited Partnership has 38,211 shares for 0.04% of their US portfolio. Blackrock Gru Limited holds 0% of its portfolio in Magellan Health Inc (NASDAQ:MGLN) for 39,239 shares. Menta Limited Liability Co has 0.04% invested in the company for 4,375 shares. Profund Ltd holds 8,838 shares or 0.03% of its portfolio. Price T Rowe Associates Md has invested 0% of its portfolio in Magellan Health Inc (NASDAQ:MGLN). Great West Life Assurance Can accumulated 0% or 3,241 shares. Cubist Systematic Strategies Ltd owns 7,095 shares or 0.03% of their US portfolio. Landscape Management Lc last reported 6,800 shares in the company. The Massachusetts-based Acadian Asset Mgmt Limited Liability Company has invested 0.25% in Magellan Health Inc (NASDAQ:MGLN). Citigroup Incorporated last reported 18,399 shares in the company. Ladenburg Thalmann Services Incorporated owns 162 shares or 0% of their US portfolio.

More important recent Magellan Health Inc (NASDAQ:MGLN) news were published by: Businesswire.com which released: “Magellan Health Provides 2017 Financial Guidance” on November 22, 2016, also Businesswire.com published article titled: “Magellan Health to Expand Experience in Special Population Management with the …”, Businesswire.com published: “Magellan Health to Expand Capabilities Related to Long-Term Services and Supports” on February 09, 2016. More interesting news about Magellan Health Inc (NASDAQ:MGLN) was released by: Zacks.com and their article: “Looking for a Top Momentum Stock? 3 Reasons Why Magellan Health (MGLN) is a …” with publication date: November 28, 2016.

MGLN Company Profile

Magellan Health, Inc., incorporated on August 11, 1969, is engaged in the healthcare management business. The Company’s divisions include Healthcare, Pharmacy Management and Corporate. The Firm is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. The Firm provides services to health plans and other managed care organizations (MCOs), employers, labor unions, various military and governmental agencies and third party administrators (TPAs).

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