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MGLN

Magellan Health

$61.92

0.11 (0.18%)

13:58
04/18/19
04/18
13:58
04/18/19
13:58

Magellan Health sale process said to move to second round, Dealreporter says

Magellan Health has wrapped up most of its presentations with potential suitors and "a few parties," including private equity buyers and strategic bidders, have moved into the second round, said Dealreporter, according to contacts.

  • 02

    May

MGLN Magellan Health
$61.92

0.11 (0.18%)

01/14/19
SPHN
01/14/19
INITIATION
Target $68
SPHN
Equal Weight
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.
02/20/19
LEER
02/20/19
NO CHANGE
LEER
Market Perform
Magellan Health buyout 'reasonable' up to $90 per share, says SVB Leerink
SVB Leerink analyst Ana Gupte says a takeout of Magellan Health (MGLN) "would be reasonable" up to $90 per share based on a sum-of-the-parts analysis. The stock in midday trading is up 10% to $71.28 after Reuters reported that the company is working with Goldman Sachs to gauge takeover interest. Activist hedge fund Starboard Value, which owns a 9.8% stake in Magellan, is likely to be pushing for a management shake-out, margin turnaround and eventual takeout by a strategic buyer such as Centene (CNC), Anthem (ANTM), UnitedHealth (UNH), WellCare (WCG) or Humana (HUM), Gupte tells investors in an intraday research note. The analyst suspects strategic buyers could pay a 25%-35% premium toward a takeout price of $90 to $95 per share post a margin turnaround. Gupte has a Market Perform rating on Magellan Health.
02/20/19
SPHN
02/20/19
NO CHANGE
Target $68
SPHN
Equal Weight
Magellan's most logical strategic buyer would be in managed care, says Stephens
After Reuters reported earlier today that Magellan Health (MGLN) is exploring a sale of the company amid pressure from activist Starboard Value, Stephens analyst Scott Fidel said he thinks the most logical strategic buyer would be in the managed care sector and he compiled a list of some companies he thinks could make sense as buyers, but cautioned that his list is "certainly not exhaustive." Anthem (ANTM), Humana (HUM), UnitedHealth (UNH), WellCare (WCG) and Centene (CNC) make Fidel's list of potential strategic buyers of Magellan and he sees various scenarios where the company could be valued at as low as $51 per share to as high as $106 per share in a takeout deal. Fidel keeps an Equal Weight rating and $68 price target on shares of Magellan, which are up $7.76, or 12%, to $72.78 in afternoon trading.
02/22/19
BOFA
02/22/19
INITIATION
Target $84
BOFA
Buy
Magellan Health initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Kevin Fischbeck initiated Magellan Health with a Buy and price target of $84.

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