The CEO, Magellan Rx Management of Magellan Health (NASDAQ: MGLN) is Buying Shares

By Carrie Williams

Today, the CEO, Magellan Rx Management of Magellan Health (NASDAQ: MGLN), Mostafa Kamal, bought shares of MGLN for $154.8K.

This recent transaction increases Mostafa Kamal’s holding in the company by 100%. Following Mostafa Kamal’s last MGLN Buy transaction on November 02, 2017, the stock climbed by 11.0%.

Based on Magellan Health’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.42 billion and quarterly net profit of $32.45 million. In comparison, last year the company earned revenue of $1.29 billion and had a net profit of $25.51 million. The company has a one-year high of $96.50 and a one-year low of $64.05. MGLN’s market cap is $2.3B and the company has a P/E ratio of 25.25.

Seven different firms, including Barclays and Citigroup, currently also have a Buy rating on the stock.

The insider sentiment on Magellan Health has been positive according to 91 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

Mostafa Kamal’s trades have generated a 14.1% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Magellan Health, Inc. engages in the healthcare management business. It operates through the following segments: Managed Healthcare, Managed Healthcare Public Sector, Specialty Solutions, Pharmacy Management, and Corporate.