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Shares of Magellan Health (NASDAQ:MGLN) remained unaffected after the company reported Q2 results.
Quarterly Results
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Earnings per share were down 2.33% year over year to $0.84, which missed the estimate of $0.98.
Revenue of $1,100,000,000 decreased by 38.48% from the same period last year, which missed the estimate of $1,430,000,000.
Guidance
The upcoming fiscal year's EPS expected to be between $0.63 and $1.10.
The upcoming fiscal year's revenue expected to be between $4,400,000,000 and $4,600,000,000.
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Date: Jul 29, 2020
Time: 09:30 AM
ET Webcast URL: https://edge.media-server.com/mmc/p/nxyvdeia
Technicals
52-week high: $81.04
Company's 52-week low was at $30.60
Price action over last quarter: Up 9.55%
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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.