Merrill Lynch Stick to Their Buy Rating for Magellan Health

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Merrill Lynch analyst Merrill Lynch maintained a Buy rating on Magellan Health (NASDAQ:MGLN) on Thursday, setting a price target of $90, which is approximately 18.39% above the present share price of $76.02.

expects Magellan Health to post earnings per share (EPS) of $3.33 for the third quarter of 2020.

The current consensus among 3 TipRanks analysts is for a Moderate Buy rating of shares in Magellan Health, with an average price target of $86.
The analysts price targets range from a high of $90 to a low of $83.

In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $1.1 billion and a net profit of $26.53 million. The company’s market cap is $1.92 billion.

According to TipRanks.com, Merrill Lynch analyst Merrill Lynch is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 7.5% and a 57.60% success rate.

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. The Pharmacy Management segment offers products and solutions that provide clinical and financial management of pharmaceuticals paid under both the medical and the pharmacy benefit.The Corporate segment covers amounts not allocated to the Healthcare and Pharmacy Management segments. The company was founded in 1969 and is headquartered in Phoenix, AZ.

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