Intrinsic value of Magellan Health - MGLN

Previous Close

$91.90

  Intrinsic Value

$230.87

stock screener

  Rating & Target

str. buy

+151%

Previous close

$91.90

 
Intrinsic value

$230.87

 
Up/down potential

+151%

 
Rating

str. buy

We calculate the intrinsic value of MGLN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  20.70
  19.13
  17.72
  16.45
  15.30
  14.27
  13.34
  12.51
  11.76
  11.08
  10.47
  9.93
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.36
  7.12
  6.91
  6.72
  6.55
  6.39
  6.25
  6.13
  6.01
  5.91
  5.82
  5.74
Revenue, $m
  7,048
  8,396
  9,883
  11,509
  13,270
  15,163
  17,187
  19,337
  21,610
  24,005
  26,520
  29,152
  31,902
  34,771
  37,758
  40,866
  44,099
  47,458
  50,950
  54,578
  58,348
  62,268
  66,344
  70,584
  74,998
  79,593
  84,380
  89,369
  94,572
  100,000
Variable operating expenses, $m
  6,796
  8,071
  9,479
  11,017
  12,683
  14,475
  16,389
  18,423
  20,574
  22,840
  25,092
  27,583
  30,185
  32,899
  35,725
  38,666
  41,725
  44,903
  48,207
  51,639
  55,207
  58,916
  62,772
  66,784
  70,960
  75,308
  79,837
  84,558
  89,481
  94,616
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  6,796
  8,071
  9,479
  11,017
  12,683
  14,475
  16,389
  18,423
  20,574
  22,840
  25,092
  27,583
  30,185
  32,899
  35,725
  38,666
  41,725
  44,903
  48,207
  51,639
  55,207
  58,916
  62,772
  66,784
  70,960
  75,308
  79,837
  84,558
  89,481
  94,616
Operating income, $m
  252
  325
  405
  492
  587
  689
  798
  914
  1,036
  1,165
  1,428
  1,569
  1,717
  1,872
  2,033
  2,200
  2,374
  2,555
  2,743
  2,938
  3,141
  3,352
  3,572
  3,800
  4,038
  4,285
  4,543
  4,811
  5,091
  5,384
EBITDA, $m
  532
  634
  747
  869
  1,002
  1,145
  1,298
  1,461
  1,632
  1,813
  2,003
  2,202
  2,410
  2,626
  2,852
  3,087
  3,331
  3,585
  3,849
  4,123
  4,407
  4,703
  5,011
  5,332
  5,665
  6,012
  6,374
  6,751
  7,144
  7,554
Interest expense (income), $m
  9
  46
  65
  86
  109
  134
  161
  191
  222
  256
  291
  328
  367
  408
  451
  496
  542
  590
  641
  693
  747
  803
  862
  923
  986
  1,052
  1,121
  1,192
  1,266
  1,344
  1,425
Earnings before tax, $m
  206
  260
  319
  383
  453
  527
  607
  691
  780
  874
  1,099
  1,202
  1,309
  1,421
  1,537
  1,658
  1,784
  1,914
  2,050
  2,191
  2,338
  2,490
  2,649
  2,814
  2,986
  3,164
  3,351
  3,545
  3,747
  3,959
Tax expense, $m
  56
  70
  86
  103
  122
  142
  164
  187
  211
  236
  297
  325
  353
  384
  415
  448
  482
  517
  554
  592
  631
  672
  715
  760
  806
  854
  905
  957
  1,012
  1,069
Net income, $m
  150
  190
  233
  280
  331
  385
  443
  505
  570
  638
  803
  878
  956
  1,037
  1,122
  1,210
  1,302
  1,398
  1,497
  1,600
  1,707
  1,818
  1,934
  2,054
  2,179
  2,310
  2,446
  2,588
  2,736
  2,890

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,570
  4,253
  5,007
  5,830
  6,722
  7,682
  8,707
  9,796
  10,947
  12,161
  13,434
  14,768
  16,161
  17,614
  19,128
  20,702
  22,340
  24,042
  25,810
  27,648
  29,558
  31,544
  33,609
  35,757
  37,993
  40,321
  42,746
  45,273
  47,909
  50,659
Adjusted assets (=assets-cash), $m
  3,570
  4,253
  5,007
  5,830
  6,722
  7,682
  8,707
  9,796
  10,947
  12,161
  13,434
  14,768
  16,161
  17,614
  19,128
  20,702
  22,340
  24,042
  25,810
  27,648
  29,558
  31,544
  33,609
  35,757
  37,993
  40,321
  42,746
  45,273
  47,909
  50,659
Revenue / Adjusted assets
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
  1.974
Average production assets, $m
  1,529
  1,822
  2,145
  2,497
  2,880
  3,290
  3,730
  4,196
  4,689
  5,209
  5,755
  6,326
  6,923
  7,545
  8,193
  8,868
  9,569
  10,298
  11,056
  11,843
  12,662
  13,512
  14,397
  15,317
  16,274
  17,272
  18,310
  19,393
  20,522
  21,700
Working capital, $m
  -437
  -521
  -613
  -714
  -823
  -940
  -1,066
  -1,199
  -1,340
  -1,488
  -1,644
  -1,807
  -1,978
  -2,156
  -2,341
  -2,534
  -2,734
  -2,942
  -3,159
  -3,384
  -3,618
  -3,861
  -4,113
  -4,376
  -4,650
  -4,935
  -5,232
  -5,541
  -5,863
  -6,200
Total debt, $m
  1,200
  1,588
  2,016
  2,484
  2,991
  3,536
  4,118
  4,736
  5,391
  6,080
  6,803
  7,561
  8,352
  9,177
  10,037
  10,931
  11,861
  12,828
  13,833
  14,877
  15,962
  17,090
  18,262
  19,483
  20,752
  22,075
  23,452
  24,888
  26,385
  27,947
Total liabilities, $m
  2,028
  2,416
  2,844
  3,312
  3,818
  4,363
  4,945
  5,564
  6,218
  6,907
  7,631
  8,388
  9,180
  10,005
  10,865
  11,759
  12,689
  13,656
  14,660
  15,704
  16,789
  17,917
  19,090
  20,310
  21,580
  22,902
  24,280
  25,715
  27,212
  28,774
Total equity, $m
  1,542
  1,837
  2,163
  2,519
  2,904
  3,318
  3,761
  4,232
  4,729
  5,253
  5,804
  6,380
  6,982
  7,609
  8,263
  8,943
  9,651
  10,386
  11,150
  11,944
  12,769
  13,627
  14,519
  15,447
  16,413
  17,418
  18,466
  19,558
  20,697
  21,884
Total liabilities and equity, $m
  3,570
  4,253
  5,007
  5,831
  6,722
  7,681
  8,706
  9,796
  10,947
  12,160
  13,435
  14,768
  16,162
  17,614
  19,128
  20,702
  22,340
  24,042
  25,810
  27,648
  29,558
  31,544
  33,609
  35,757
  37,993
  40,320
  42,746
  45,273
  47,909
  50,658
Debt-to-equity ratio
  0.780
  0.860
  0.930
  0.990
  1.030
  1.070
  1.090
  1.120
  1.140
  1.160
  1.170
  1.190
  1.200
  1.210
  1.210
  1.220
  1.230
  1.240
  1.240
  1.250
  1.250
  1.250
  1.260
  1.260
  1.260
  1.270
  1.270
  1.270
  1.270
  1.280
Adjusted equity ratio
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432
  0.432

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  150
  190
  233
  280
  331
  385
  443
  505
  570
  638
  803
  878
  956
  1,037
  1,122
  1,210
  1,302
  1,398
  1,497
  1,600
  1,707
  1,818
  1,934
  2,054
  2,179
  2,310
  2,446
  2,588
  2,736
  2,890
Depreciation, amort., depletion, $m
  280
  310
  342
  377
  415
  457
  500
  547
  596
  648
  575
  633
  692
  755
  819
  887
  957
  1,030
  1,106
  1,184
  1,266
  1,351
  1,440
  1,532
  1,627
  1,727
  1,831
  1,939
  2,052
  2,170
Funds from operations, $m
  431
  499
  575
  657
  746
  841
  943
  1,052
  1,166
  1,286
  1,378
  1,510
  1,648
  1,792
  1,941
  2,097
  2,259
  2,427
  2,602
  2,784
  2,973
  3,169
  3,373
  3,586
  3,807
  4,037
  4,277
  4,527
  4,788
  5,060
Change in working capital, $m
  -75
  -84
  -92
  -101
  -109
  -117
  -125
  -133
  -141
  -148
  -156
  -163
  -171
  -178
  -185
  -193
  -200
  -208
  -216
  -225
  -234
  -243
  -253
  -263
  -274
  -285
  -297
  -309
  -323
  -337
Cash from operations, $m
  506
  583
  667
  758
  855
  959
  1,069
  1,185
  1,307
  1,435
  1,534
  1,673
  1,819
  1,970
  2,127
  2,290
  2,460
  2,636
  2,819
  3,009
  3,207
  3,412
  3,626
  3,849
  4,080
  4,322
  4,574
  4,836
  5,110
  5,396
Maintenance CAPEX, $m
  -127
  -153
  -182
  -214
  -250
  -288
  -329
  -373
  -420
  -469
  -521
  -575
  -633
  -692
  -755
  -819
  -887
  -957
  -1,030
  -1,106
  -1,184
  -1,266
  -1,351
  -1,440
  -1,532
  -1,627
  -1,727
  -1,831
  -1,939
  -2,052
New CAPEX, $m
  -262
  -293
  -323
  -353
  -382
  -411
  -439
  -467
  -493
  -520
  -546
  -571
  -597
  -622
  -648
  -675
  -701
  -729
  -758
  -787
  -818
  -851
  -885
  -920
  -958
  -997
  -1,039
  -1,083
  -1,129
  -1,178
Cash from investing activities, $m
  -389
  -446
  -505
  -567
  -632
  -699
  -768
  -840
  -913
  -989
  -1,067
  -1,146
  -1,230
  -1,314
  -1,403
  -1,494
  -1,588
  -1,686
  -1,788
  -1,893
  -2,002
  -2,117
  -2,236
  -2,360
  -2,490
  -2,624
  -2,766
  -2,914
  -3,068
  -3,230
Free cash flow, $m
  117
  137
  162
  191
  223
  260
  301
  345
  394
  446
  467
  527
  589
  655
  724
  796
  871
  950
  1,031
  1,116
  1,204
  1,295
  1,390
  1,489
  1,591
  1,697
  1,808
  1,923
  2,042
  2,166
Issuance/(repayment) of debt, $m
  347
  388
  428
  468
  507
  545
  582
  619
  654
  689
  723
  757
  791
  825
  860
  894
  930
  967
  1,005
  1,044
  1,085
  1,128
  1,173
  1,220
  1,270
  1,322
  1,377
  1,436
  1,497
  1,562
Issuance/(repurchase) of shares, $m
  116
  105
  93
  76
  55
  29
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  463
  493
  521
  544
  562
  574
  582
  619
  654
  689
  723
  757
  791
  825
  860
  894
  930
  967
  1,005
  1,044
  1,085
  1,128
  1,173
  1,220
  1,270
  1,322
  1,377
  1,436
  1,497
  1,562
Total cash flow (excl. dividends), $m
  579
  631
  683
  734
  785
  834
  883
  964
  1,048
  1,135
  1,191
  1,284
  1,380
  1,480
  1,583
  1,690
  1,801
  1,916
  2,036
  2,160
  2,289
  2,423
  2,563
  2,709
  2,861
  3,020
  3,185
  3,358
  3,539
  3,728
Retained Cash Flow (-), $m
  -266
  -295
  -326
  -356
  -385
  -414
  -443
  -471
  -498
  -524
  -550
  -576
  -602
  -628
  -654
  -680
  -707
  -735
  -764
  -794
  -825
  -858
  -892
  -928
  -966
  -1,006
  -1,048
  -1,092
  -1,139
  -1,188
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  41
  49
  59
  69
  81
  93
  106
  120
  135
  151
  168
  186
  204
  223
  243
  264
  286
  309
  332
  357
  382
  408
  436
  464
  494
  525
  557
  591
  626
  662
Cash available for distribution, $m
  313
  336
  357
  379
  399
  420
  440
  494
  551
  611
  641
  708
  779
  853
  930
  1,010
  1,094
  1,181
  1,272
  1,366
  1,464
  1,565
  1,671
  1,781
  1,895
  2,014
  2,138
  2,266
  2,401
  2,540
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  300
  307
  311
  312
  310
  305
  297
  308
  316
  320
  304
  302
  296
  286
  273
  257
  238
  218
  196
  174
  151
  130
  110
  91
  74
  59
  46
  35
  26
  19
Current shareholders' claim on cash, %
  95.0
  91.4
  88.8
  87.0
  85.9
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4
  85.4

Magellan Health, Inc. is engaged in the healthcare management business. The Company's segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC). Its Pharmacy Management segment consists of products and solutions that provide clinical and financial management of pharmaceuticals paid under medical and pharmacy benefit programs. Its Corporate segment consists primarily of operational support functions. It provides services to health plans and other managed care organizations (MCOs).

FINANCIAL RATIOS  of  Magellan Health (MGLN)

Valuation Ratios
P/E Ratio 27.7
Price to Sales 0.4
Price to Book 2
Price to Tangible Book
Price to Cash Flow 32.3
Price to Free Cash Flow 360.2
Growth Rates
Sales Growth Rate 5.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -15.3%
Cap. Spend. - 3 Yr. Gr. Rate -1.3%
Financial Strength
Quick Ratio 1
Current Ratio 0.3
LT Debt to Equity 19.5%
Total Debt to Equity 56.2%
Interest Coverage 17
Management Effectiveness
Return On Assets 3.7%
Ret/ On Assets - 3 Yr. Avg. 3.1%
Return On Total Capital 5.1%
Ret/ On T. Cap. - 3 Yr. Avg. 4.5%
Return On Equity 7.2%
Return On Equity - 3 Yr. Avg. 5.6%
Asset Turnover 2.1
Profitability Ratios
Gross Margin 5.4%
Gross Margin - 3 Yr. Avg. 5%
EBITDA Margin 5.4%
EBITDA Margin - 3 Yr. Avg. 5%
Operating Margin 3.2%
Oper. Margin - 3 Yr. Avg. 2.7%
Pre-Tax Margin 3%
Pre-Tax Margin - 3 Yr. Avg. 2.6%
Net Profit Margin 1.6%
Net Profit Margin - 3 Yr. Avg. 1.5%
Effective Tax Rate 47.9%
Eff/ Tax Rate - 3 Yr. Avg. 48.1%
Payout Ratio 0%

MGLN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MGLN stock intrinsic value calculation we used $5839 million for the last fiscal year's total revenue generated by Magellan Health. The default revenue input number comes from 2017 income statement of Magellan Health. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MGLN stock valuation model: a) initial revenue growth rate of 20.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MGLN is calculated based on our internal credit rating of Magellan Health, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Magellan Health.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MGLN stock the variable cost ratio is equal to 96.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MGLN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Magellan Health.

Corporate tax rate of 27% is the nominal tax rate for Magellan Health. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MGLN stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MGLN are equal to 21.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Magellan Health operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MGLN is equal to -6.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1276 million for Magellan Health - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 24 million for Magellan Health is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Magellan Health at the current share price and the inputted number of shares is $2.2 billion.

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COMPANY NEWS

▶ Magellan Health Elects Two New Board Members   [May-29-18 04:30PM  Business Wire]
▶ New Strong Sell Stocks for May 23rd   [May-23-18 07:36AM  Zacks]
▶ Cheap Stocks To Watch Out For In May   [May-16-18 10:02AM  Simply Wall St.]
▶ ServiceNow Has Plans for Huge Revenue Growth   [May-09-18 10:04AM  Fortune]
▶ Magellan Health: 1Q Earnings Snapshot   [06:58AM  Associated Press]
▶ Markets closed, Walmart reportedly in talks to buy Humana   [Mar-30-18 08:57AM  Yahoo Finance]
▶ Magellan Expands Digital Innovation Platform and Strategy   [Mar-09-18 11:00AM  Business Wire]
▶ Magellan Health tops 4Q revenue forecasts   [Feb-27-18 07:21AM  Associated Press]
▶ Is It Time To Buy Magellan Health Inc (NASDAQ:MGLN)?   [Feb-26-18 08:02PM  Simply Wall St.]
▶ 5 HMO Stocks to Continue Rewarding Investors   [Jan-22-18 02:35PM  InvestorPlace]
▶ 5 HMO Stocks to Continue Rewarding Investors   [Jan-12-18 09:31AM  Zacks]
▶ Innovative Collaboration Takes on Cardiovascular Health   [Dec-18-17 11:00AM  Business Wire]
▶ Magellan Health Announces 2018 Financial Guidance Call   [Nov-14-17 06:30AM  Business Wire]
▶ November Best Undervalued Stocks   [08:03AM  Simply Wall St.]
▶ Magellan Health, Inc. to Host Earnings Call   [Nov-01-17 08:00AM  ACCESSWIRE]
▶ Magellan Health beats 3Q profit forecasts   [06:38AM  Associated Press]
▶ Heres why health care premiums could jump 30%   [Oct-31-17 12:40PM  Yahoo Finance Video]
▶ Magellan Health Clears Key Benchmark, Hitting 80-Plus RS Rating   [Oct-26-17 03:00AM  Investor's Business Daily]
▶ Trump to unwind Obamacare with new exec. order   [Oct-12-17 01:18PM  Yahoo Finance Video]
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