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MGLN

Magellan Health

$60.89

0.02 (0.03%)

07:45
01/14/19
01/14
07:45
01/14/19
07:45

Magellan Health initiated with an Equal Weight at Stephens

Stephens analyst Scott Fidel initiated coverage of 11 Managed Care and Healthcare Facilities stocks, telling investors that overall he is constructive on managed care and selective on hospitals. He started Magellan Health with an Equal Weight rating and $68 price target, citing what he calls its "disappointing fundamental execution" in 2018. While the emergence of an activist investor will likely increase accountability and urgency, he would wait for some initial signs of improving business trends before getting more constructive, Fidel tells investors.

MGLN Magellan Health
$60.89

0.02 (0.03%)

08/28/18
JEFF
08/28/18
NO CHANGE
Target $90
JEFF
Buy
Magellan Health should trade higher on 'favorable' settlement, says Jefferies
Jefferies analyst David Styblo expects Magellan Health o trade higher today following a "favorable" settlement with Florida officials regarding its Serious Mental Illness contract. In April, Magellan was not selected to continue its $600M contract, but last night's update allows the company to retain about 40% of its business, Styblo tells investors in a research note titled "A Bird In The Hand: MGLN Settles and Retains Part of Florida SMI Contract." The analyst believes the contract should be a contributor to earnings in 2020 after management "right-sizes fixed costs." He keeps a Buy rating on Magellan Health with a $90 price target.
09/20/18
LEER
09/20/18
NO CHANGE
Target $250
LEER
Outperform
Cigna price target raised to $250 from $235 at Leerink
Leerink analyst Ana Gupte raised her price target on Outperform-rated Cigna (CI) to $250 from $235 following meetings with a panel of PBM and Specialty Rx specialists, which increased her bullishness on Cigna and Market Perform-rated Express Scripts (ESRX). In a research note to investors, Gupte says she also came away with raised confidence on the achiveability of the $4B annual drug cost savings from the Express Scripts switch by Anthem (ANTM) to IngenioRx in partnership with CVS (CVS). She adds that smaller independent PBMs still have niche opportunities with smaller regional third-party health plans, noting that Magellan Health (MGLN) is well positioned in this market, though loss of substantial business in Florida Seriously Mentally Ill is a headwind in Rx as well.
11/13/18
LEER
11/13/18
DOWNGRADE
Target $70
LEER
Market Perform
Magellan Health downgraded to Market Perform from Outperform at Leerink
Leerink analyst Ana Gupte downgraded Magellan Health to Market Perform and lowered her price target for the shares to $70 from $90. The analyst says the stock has had "enormous challenges" since her upgrade, including the loss of the flagship serious mental ill contract in Florida. She believes "carve-out challenges could keep contract wins pressured in other states." Further, Magellan's margins do not look likely to normalize until late 2019 and or even 2020, Gupte tells investors in a research note.
11/28/18
JEFF
11/28/18
NO CHANGE
Target $79
JEFF
Buy
Jefferies sees Magellan turning Virginia around after Srivastava ouster
Jefferies analyst David Styblo believes Magellan Health's termination of Sam Srivastava, the CEO of its Healthcare division, shouldn't be too surprising given the challenges that business has had this year, particularly in the Virginia Medicaid start-up. Magellan CEO Barry Smith will take over and have a more direct role in improving performance, including spending time on the Virginia contract, Styblo tells investors in a research note. The analyst views the Virginia contract as a large opportunity and a key to realizing "significant" earnings power over the next few years. Styblo estimates the contract has $2.30 of earnings per share power from 2018. He thinks Magellan "can turn Virginia around" and keeps a Buy rating on the shares with a $79 price target.

TODAY'S FREE FLY STORIES

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FOMX

Foamix

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VLRS

Volaris

$7.50

0.04 (0.54%)

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VIX

Volatility Index S&P 500 Options

$0.00

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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Technical Analysis
NYSE market internals summary »

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FTSV

Forty Seven

$14.48

-0.57 (-3.79%)

16:14
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Conference/Events
Forty Seven to hold KOL breakfast symposium »

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TSLA

Tesla

$302.26

-45.18 (-13.00%)

, WMT

Walmart

$97.75

1.01 (1.04%)

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WMT

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NFLX

Netflix

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QCOM

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FND

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VFC

VF Corp.

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NLS

Nautilus

$7.00

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CASA

Casa Systems

$11.23

-3.17 (-22.01%)

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SNE

Sony

$50.08

0.58 (1.17%)

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Periodicals
Sony Music ends working relationship with R. Kelly, Variety reports »

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PLD

Prologis

$64.58

0.53 (0.83%)

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CYDY

CytoDyn

$0.00

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WHF

WhiteHorse Finance

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CB

Chubb

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ESEA

Euroseas

$0.80

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MRK

Merck

$75.68

0.08 (0.11%)

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Samsung

$0.00

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MRK

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$75.68

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SSNLF

Samsung

$0.00

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RHHBY

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NKE

Nike

$80.35

1.23 (1.55%)

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ANIX

Anixa Biosciences

$4.20

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ESTA

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$26.40

-0.51 (-1.90%)

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ATEN

A10 Networks

$6.63

0.205 (3.19%)

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EQT

EQT Corporation

$21.09

0.135 (0.64%)

15:18
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EQT Corporation to hold a conference call »

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