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Last $66.33 USD
Change Today -0.38 / -0.57%
Volume 70.3K
MGLN On Other Exchanges
Symbol
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NASDAQ GS
Frankfurt
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

magellan health inc (MGLN) Key Developments

Magellan Health, Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year of 2015

Magellan Health, Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2015. For the quarter, the company’s total net revenue was $980,968,000 compared to $966,475,000 a year ago. Income before income taxes was $49,993,000 compared to $11,327,000 a year ago. Net income attributable to company was $25,720,000 or $0.92 per share, compared to $7,288,000 or $0.28 per share, a year ago. Adjusted net income was $27,306,000 or $0.97 per share, compared to $24,384,000 or $0.94 per share, a year ago. Net cash provided by operating activities was $82,827,000 compared to $44,156,000 a year ago. Capital expenditures were $11,059,000 compared to $21,396,000 a year ago. The increase in revenue between periods resulted primarily from the impact of new business, same store growth and rate increases, and the inclusion of revenues from CDMI in the current year, which were partially offset by the loss of revenues associated with previously announced contract terminations. The decrease in net income is primarily due to the decrease in segment profit and non-cash expenses relating to acquisitions, comprised of $15.0 million of changes in the fair value of contingent consideration, $7.4 million of higher stock compensation expense, and $2.8 million of incremental amortization of acquired intangibles, offset by the tax impact of such items. The majority of the increase in the fair value of contingent consideration is due to an improved outlook for CDMI, resulting in increased estimates of the performance-related earn-outs. The decrease in adjusted net income between periods was mainly due to decreased segment profit. The company provided earnings guidance for the full year of 2015. The company expects revenue of $4.45 billion to $4.69 billion, net income of $45 million to $61 million, and segment profit of $272 million to $292 million. Adjusted net income for the year is now projected to range from $92 million to $104 million. The company is revising its guidance for cash flow from operations to the range of $178 million to $202 million, excluding the net shift of restricted funds between cash and investments. Taking into account the impact of share repurchase activity through April 27, 2015, but not considering any potential future share repurchases, the company’s guidance range for fully diluted EPS is estimated to be $1.67 to $2.26 and for fully diluted adjusted EPS of $3.41 to $3.85, based on an updated 27.0 million average fully diluted shares.

Magellan Health, Inc. Establishes the Magellan Cares Foundation, Inc

Magellan Health, Inc. announced that it has established the Magellan Cares Foundation, Inc., a non-profit, 501(c)(3) organization. The foundation’s mission is to improve the health and well-being of the lives and communities Magellan Health serves. The foundation’s focus will include: National or large-scale health access and quality improvement initiatives. Efforts that help to improve the social supports around a quality healthcare system, such as access to housing, food, clothing or self-improvement opportunities. Local efforts, including legacy initiatives supported by Magellan’s employees. Efforts to support America’s military service members, veterans and wounded warriors. During 2015, the foundation will focus its efforts on fundraising and other logistical needs and will begin accepting grant applications in 2016.

Magellan Health, Inc., Annual General Meeting, May 20, 2015

Magellan Health, Inc., Annual General Meeting, May 20, 2015., at 07:30 US Eastern Standard Time. Location: W Scottsdale Hotel. Agenda: To elect four (4) directors, three (3) of whom will serve until 2018 annual meeting and one (1) of whom will serve until 2017 annual meeting; to approve, in an advisory vote, the compensation of named executive officers; to ratify the appointment of Ernst & Young LLP as independent auditor for fiscal year 2015; and to transact such other business as may properly come before the meeting or any adjournment or postponement thereof.

Magellan Health, Inc. to Report Q1, 2015 Results on Apr 30, 2015

Magellan Health, Inc. announced that they will report Q1, 2015 results at 11:30 AM, GMT Standard Time on Apr 30, 2015

Magellan Health, Inc., Q1 2015 Earnings Call, Apr 30, 2015

Magellan Health, Inc., Q1 2015 Earnings Call, Apr 30, 2015

 

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MGLN

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Valuation MGLN Industry Range
Price/Earnings 29.3x
Price/Sales 0.4x
Price/Book 1.6x
Price/Cash Flow 11.7x
TEV/Sales 0.3x
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