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MGLN

Magellan Health

$65.58

1.71 (2.68%)

04:55
09/12/19
09/12
04:55
09/12/19
04:55

Magellan Health management to meet with Stephens

Group Luncheon with CFO Rubin to be held in New York on September 12 at 12:30 pm hosted by Stephens.

  • 12

    Sep

MGLN Magellan Health
$65.58

1.71 (2.68%)

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.
07/11/19
SPHN
07/11/19
NO CHANGE
SPHN
Stephens raises targets for Anthem, Cigna, peers on HHS rebate rule withdrawal
Following press reports that the White House has withdrawn its proposed rule to eliminate drug rebates in Medicare/Medicaid outside point of sale, Stephens analyst Scott Fidel raised his price targets on a number of managed care stocks, calling the elimination of this key near-term overhang a "material positive event" for the MCO and PBM group. He raised his price target on Anthem (ANTM) to $350 from $335, upped his target on Cigna (CI) to $240 from $225, increased his target on Humana (HUM) to $320 from $300 and raised his target on UnitedHealth (UNH) to $290 from $270. Fidel keeps Overweight ratings on all four of those stocks. He also raised his target on Magellan Health (MGLN) to $74 from $70, though he keeps an Equal Weight rating on that stock, citing the company's softer fundamentals.

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