Intrinsic value of Magellan Health - MGLN

Previous Close

$96.40

  Intrinsic Value

$452.81

stock screener

  Rating & Target

str. buy

+370%

Previous close

$96.40

 
Intrinsic value

$452.81

 
Up/down potential

+370%

 
Rating

str. buy

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

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.

Please visit our new site that uses elements of artificial intelligence for stock valuation: artificial intelligence value of Magellan Health (MGLN) stock.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   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

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.22
  9.80
  9.32
  8.89
  8.50
  8.15
  7.83
  7.55
  7.30
  7.07
  6.86
  6.67
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.53
  5.47
  5.43
  5.38
  5.34
  5.31
  5.28
  5.25
  5.23
Revenue, $m
  4,837
  5,311
  5,806
  6,322
  6,859
  7,418
  8,000
  8,604
  9,231
  9,884
  10,562
  11,266
  11,999
  12,762
  13,556
  14,383
  15,244
  16,142
  17,078
  18,055
  19,075
  20,140
  21,252
  22,416
  23,632
  24,904
  26,235
  27,628
  29,086
  30,614
  32,214
Variable operating expenses, $m
 
  3,578
  3,904
  4,245
  4,599
  4,968
  5,351
  5,750
  6,164
  6,594
  7,041
  7,432
  7,916
  8,419
  8,942
  9,488
  10,056
  10,648
  11,266
  11,910
  12,583
  13,285
  14,019
  14,787
  15,589
  16,428
  17,306
  18,225
  19,187
  20,195
  21,250
Fixed operating expenses, $m
 
  1,490
  1,528
  1,566
  1,605
  1,645
  1,686
  1,728
  1,772
  1,816
  1,861
  1,908
  1,955
  2,004
  2,054
  2,106
  2,158
  2,212
  2,268
  2,324
  2,383
  2,442
  2,503
  2,566
  2,630
  2,696
  2,763
  2,832
  2,903
  2,975
  3,050
Total operating expenses, $m
  4,684
  5,068
  5,432
  5,811
  6,204
  6,613
  7,037
  7,478
  7,936
  8,410
  8,902
  9,340
  9,871
  10,423
  10,996
  11,594
  12,214
  12,860
  13,534
  14,234
  14,966
  15,727
  16,522
  17,353
  18,219
  19,124
  20,069
  21,057
  22,090
  23,170
  24,300
Operating income, $m
  153
  243
  374
  512
  655
  805
  962
  1,126
  1,296
  1,474
  1,659
  1,927
  2,128
  2,339
  2,559
  2,789
  3,030
  3,281
  3,545
  3,820
  4,109
  4,412
  4,730
  5,063
  5,413
  5,780
  6,166
  6,571
  6,996
  7,444
  7,914
EBITDA, $m
  259
  355
  490
  631
  779
  933
  1,094
  1,262
  1,437
  1,619
  1,809
  2,008
  2,215
  2,431
  2,657
  2,893
  3,139
  3,397
  3,667
  3,950
  4,246
  4,557
  4,883
  5,224
  5,583
  5,959
  6,354
  6,769
  7,205
  7,664
  8,145
Interest expense (income), $m
  9
  9
  12
  15
  19
  23
  27
  31
  35
  39
  44
  49
  54
  59
  64
  70
  76
  82
  88
  95
  101
  109
  116
  124
  132
  141
  150
  159
  169
  179
  190
Earnings before tax, $m
  146
  234
  362
  496
  636
  783
  935
  1,095
  1,261
  1,434
  1,615
  1,878
  2,075
  2,280
  2,495
  2,719
  2,954
  3,200
  3,457
  3,726
  4,008
  4,304
  4,614
  4,939
  5,281
  5,640
  6,016
  6,412
  6,828
  7,265
  7,724
Tax expense, $m
  70
  63
  98
  134
  172
  211
  253
  296
  340
  387
  436
  507
  560
  616
  674
  734
  798
  864
  933
  1,006
  1,082
  1,162
  1,246
  1,334
  1,426
  1,523
  1,624
  1,731
  1,843
  1,961
  2,086
Net income, $m
  78
  171
  264
  362
  465
  571
  683
  799
  921
  1,047
  1,179
  1,371
  1,515
  1,665
  1,821
  1,985
  2,156
  2,336
  2,523
  2,720
  2,926
  3,142
  3,368
  3,606
  3,855
  4,117
  4,392
  4,681
  4,984
  5,303
  5,639

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  374
  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
  2,444
  2,273
  2,484
  2,705
  2,935
  3,174
  3,423
  3,681
  3,950
  4,229
  4,519
  4,821
  5,135
  5,461
  5,801
  6,154
  6,523
  6,907
  7,308
  7,726
  8,162
  8,618
  9,094
  9,592
  10,112
  10,656
  11,226
  11,822
  12,446
  13,100
  13,784
Adjusted assets (=assets-cash), $m
  2,070
  2,273
  2,484
  2,705
  2,935
  3,174
  3,423
  3,681
  3,950
  4,229
  4,519
  4,821
  5,135
  5,461
  5,801
  6,154
  6,523
  6,907
  7,308
  7,726
  8,162
  8,618
  9,094
  9,592
  10,112
  10,656
  11,226
  11,822
  12,446
  13,100
  13,784
Revenue / Adjusted assets
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
Average production assets, $m
  333
  366
  401
  436
  473
  512
  552
  594
  637
  682
  729
  777
  828
  881
  935
  992
  1,052
  1,114
  1,178
  1,246
  1,316
  1,390
  1,466
  1,547
  1,631
  1,718
  1,810
  1,906
  2,007
  2,112
  2,223
Working capital, $m
  226
  281
  308
  335
  364
  393
  424
  456
  489
  524
  560
  597
  636
  676
  718
  762
  808
  856
  905
  957
  1,011
  1,067
  1,126
  1,188
  1,252
  1,320
  1,390
  1,464
  1,542
  1,623
  1,707
Total debt, $m
  618
  340
  439
  543
  651
  763
  879
  1,001
  1,127
  1,257
  1,394
  1,535
  1,682
  1,835
  1,994
  2,160
  2,333
  2,513
  2,701
  2,897
  3,102
  3,316
  3,539
  3,772
  4,017
  4,272
  4,539
  4,818
  5,111
  5,418
  5,739
Total liabilities, $m
  1,344
  1,066
  1,165
  1,269
  1,377
  1,489
  1,605
  1,727
  1,853
  1,983
  2,120
  2,261
  2,408
  2,561
  2,720
  2,886
  3,059
  3,239
  3,427
  3,623
  3,828
  4,042
  4,265
  4,498
  4,743
  4,998
  5,265
  5,544
  5,837
  6,144
  6,465
Total equity, $m
  1,100
  1,207
  1,319
  1,436
  1,559
  1,686
  1,818
  1,955
  2,097
  2,246
  2,400
  2,560
  2,726
  2,900
  3,080
  3,268
  3,464
  3,668
  3,880
  4,102
  4,334
  4,576
  4,829
  5,093
  5,369
  5,658
  5,961
  6,277
  6,609
  6,956
  7,319
Total liabilities and equity, $m
  2,444
  2,273
  2,484
  2,705
  2,936
  3,175
  3,423
  3,682
  3,950
  4,229
  4,520
  4,821
  5,134
  5,461
  5,800
  6,154
  6,523
  6,907
  7,307
  7,725
  8,162
  8,618
  9,094
  9,591
  10,112
  10,656
  11,226
  11,821
  12,446
  13,100
  13,784
Debt-to-equity ratio
  0.562
  0.280
  0.330
  0.380
  0.420
  0.450
  0.480
  0.510
  0.540
  0.560
  0.580
  0.600
  0.620
  0.630
  0.650
  0.660
  0.670
  0.690
  0.700
  0.710
  0.720
  0.720
  0.730
  0.740
  0.750
  0.750
  0.760
  0.770
  0.770
  0.780
  0.780
Adjusted equity ratio
  0.351
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531
  0.531

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  78
  171
  264
  362
  465
  571
  683
  799
  921
  1,047
  1,179
  1,371
  1,515
  1,665
  1,821
  1,985
  2,156
  2,336
  2,523
  2,720
  2,926
  3,142
  3,368
  3,606
  3,855
  4,117
  4,392
  4,681
  4,984
  5,303
  5,639
Depreciation, amort., depletion, $m
  106
  112
  116
  120
  124
  128
  132
  136
  141
  145
  150
  81
  86
  92
  97
  103
  110
  116
  123
  130
  137
  145
  153
  161
  170
  179
  189
  199
  209
  220
  232
Funds from operations, $m
  -50
  284
  380
  482
  588
  699
  815
  935
  1,061
  1,192
  1,329
  1,452
  1,601
  1,756
  1,919
  2,088
  2,266
  2,452
  2,646
  2,850
  3,063
  3,286
  3,521
  3,767
  4,025
  4,296
  4,580
  4,879
  5,193
  5,523
  5,870
Change in working capital, $m
  -117
  25
  26
  27
  28
  30
  31
  32
  33
  35
  36
  37
  39
  40
  42
  44
  46
  48
  50
  52
  54
  56
  59
  62
  64
  67
  71
  74
  77
  81
  85
Cash from operations, $m
  67
  258
  354
  455
  560
  669
  784
  903
  1,028
  1,158
  1,293
  1,414
  1,562
  1,716
  1,877
  2,045
  2,220
  2,404
  2,596
  2,798
  3,009
  3,230
  3,462
  3,705
  3,960
  4,228
  4,510
  4,805
  5,116
  5,442
  5,785
Maintenance CAPEX, $m
  0
  -35
  -38
  -42
  -45
  -49
  -53
  -57
  -62
  -66
  -71
  -76
  -81
  -86
  -92
  -97
  -103
  -110
  -116
  -123
  -130
  -137
  -145
  -153
  -161
  -170
  -179
  -189
  -199
  -209
  -220
New CAPEX, $m
  -61
  -33
  -34
  -36
  -37
  -39
  -40
  -42
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -57
  -59
  -62
  -65
  -67
  -70
  -73
  -77
  -80
  -84
  -88
  -92
  -96
  -101
  -105
  -110
Cash from investing activities, $m
  -244
  -68
  -72
  -78
  -82
  -88
  -93
  -99
  -105
  -111
  -118
  -125
  -132
  -139
  -147
  -154
  -162
  -172
  -181
  -190
  -200
  -210
  -222
  -233
  -245
  -258
  -271
  -285
  -300
  -314
  -330
Free cash flow, $m
  -177
  190
  282
  377
  477
  581
  690
  804
  923
  1,046
  1,175
  1,290
  1,430
  1,577
  1,730
  1,890
  2,058
  2,233
  2,416
  2,608
  2,809
  3,019
  3,240
  3,472
  3,715
  3,971
  4,239
  4,521
  4,817
  5,128
  5,455
Issuance/(repayment) of debt, $m
  354
  96
  99
  104
  108
  112
  117
  121
  126
  131
  136
  141
  147
  153
  159
  166
  173
  180
  188
  196
  205
  214
  223
  233
  244
  255
  267
  280
  293
  307
  321
Issuance/(repurchase) of shares, $m
  -82
  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 from financing (excl. dividends), $m  
  233
  96
  99
  104
  108
  112
  117
  121
  126
  131
  136
  141
  147
  153
  159
  166
  173
  180
  188
  196
  205
  214
  223
  233
  244
  255
  267
  280
  293
  307
  321
Total cash flow (excl. dividends), $m
  55
  286
  381
  481
  585
  694
  807
  925
  1,049
  1,177
  1,311
  1,431
  1,577
  1,730
  1,889
  2,056
  2,230
  2,413
  2,604
  2,804
  3,013
  3,233
  3,464
  3,706
  3,959
  4,226
  4,506
  4,800
  5,109
  5,434
  5,776
Retained Cash Flow (-), $m
  -34
  -107
  -112
  -117
  -122
  -127
  -132
  -137
  -143
  -148
  -154
  -160
  -167
  -173
  -180
  -188
  -196
  -204
  -213
  -222
  -232
  -242
  -253
  -264
  -276
  -289
  -302
  -317
  -331
  -347
  -364
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
 
  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 available for distribution, $m
 
  179
  269
  364
  463
  567
  675
  788
  906
  1,029
  1,157
  1,271
  1,411
  1,557
  1,709
  1,868
  2,035
  2,209
  2,391
  2,582
  2,782
  2,991
  3,211
  3,441
  3,683
  3,937
  4,204
  4,484
  4,778
  5,087
  5,412
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
 
  172
  246
  316
  381
  439
  490
  532
  566
  591
  607
  604
  602
  592
  574
  548
  517
  481
  440
  398
  353
  309
  266
  226
  188
  153
  123
  96
  74
  56
  41
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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 29.1
Price to Sales 0.5
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 33.8
Price to Free Cash Flow 377.9
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 $4837 million for the last fiscal year's total revenue generated by Magellan Health. The default revenue input number comes from 2016 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 9.8% 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 67.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1454 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 3.5% 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%.

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 6.9%.

Life of production assets of 9.6 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 5.3%. 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 - $1100 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 24.443 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 $2.4 billion.

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COMPANY NEWS

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▶ 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]
▶ GOP health care bill is doomed as possible vote looms   [Sep-26-17 12:50PM  Yahoo Finance Video]
▶ Why the Republicans bomb on health care   [11:24AM  Yahoo Finance]
▶ 5 Price-to-Book Value Picks to Buy in August   [Aug-21-17 08:09AM  Zacks]
▶ Magellan Health misses 2Q profit forecasts   [Jul-28-17 09:45PM  Associated Press]
▶ Magellan Health to Host Investor Day in New York City   [Jun-21-17 06:30AM  Business Wire]
Financial statements of MGLN
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