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Magellan Health: Q1 Earnings Insights

Shares of Magellan Health (NASDAQ:MGLN) remained unaffected at $62.19 after the company reported Q1 results. Quarterly Results Earnings per share were up 187.50% year over year to $1.15, which beat the estimate of $0.72.

Benzinga · 05/11/2020 12:41

Shares of Magellan Health (NASDAQ:MGLN) remained unaffected at $62.19 after the company reported Q1 results.

Quarterly Results

Earnings per share were up 187.50% year over year to $1.15, which beat the estimate of $0.72.

Revenue of $1,794,000,000 up by 3.10% year over year, which missed the estimate of $1,800,000,000.

Looking Ahead

Magellan Health hasn't issued any earnings guidance for the time being.

Magellan Health hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: May 11, 2020

Webcast URL: https://edge.media-server.com/mmc/p/iv2mmffn

Technicals

Company's 52-week high was at $81.04

Company's 52-week low was at $30.60

Price action over last quarter: Up 5.39%

Company Overview

Magellan Health provides healthcare management services to health plans and other managed care organizations, employers, labor unions, United States government agencies, and third-party administrators. The firm operates in three segments: Healthcare, Pharmacy Management, and Corporate. The Healthcare business manages behavioral healthcare services and employee assistance program services, as well as specialty areas like diagnostic imaging. The Pharmacy Management segment includes pharmacy benefit management (PBM) services, pharmacy benefit administration for Medicaid and other government-sponsored programs, pharmaceutical dispensing operations, and clinical and formulary management programs. The Healthcare business generates the majority of revenue.