Magellan Health Services, Inc.NASDAQ
Magellan Health: Facing Not So Healthy Headwinds
Darspal S Mann
Darspal S Mann
Tue, Nov. 22, 7:27 AM
- Magellan Health (NASDAQ:MGLN) 2017 Guidance: Revenues: $5.8B - 6.1B; Net Income: $90M - 114M; Non-GAAP Net Income: $123M - 145M; EPS: $3.80 - 4.81; Non-GAAP EPS: $5.19 - 6.12; CF Ops: $186M - 220M.
- Acquisition of Veridicus should close by next month. It should generate ~$220M in revenues and $9M in segment profit in 2017. The impact of the transaction should be dilutive by 11 cents and accretive by 12 cents on a non-GAAP basis.
Mon, Nov. 21, 8:07 AM
- Magellan Health (NASDAQ:MGLN) acquires privately held Veridicus Holdings, LLC for $74.5M. The Salt Lake City, UT-based pharmacy benefits manager (PBM) leverages proprietary analytics and clinical software that integrates pharmacy, medical and laboratory data to drive more effective therapeutic interventions and lower costs. Veridicus' operations include a fully licensed insurance company.
- Magellan will provide additional details about the transaction during its guidance call tomorrow, November 22.
Wed, Nov. 9, 6:55 AM
- Magellan Health (NASDAQ:MGLN) Q3 results ($M): Total Revenues: 1,292.1 (+8.6%); Managed Care & Other: 751.6 (-7.1%); PBM and Dispensing: 540.5 (+41.9%).
- Net Income: 25.5 (+426.9%); Non-GAAP Net Income: 33.3 (+76.2%); EPS: 1.06 (+441.9%); Non-GAAP EPS: 1.39 (+80.1%); Cash Flow Ops (9 mo.): 70.9 (-60.2%).
- Consensus view was EPS of $0.67 on revenues of $1.2B.
- 2016 Guidance: Revenues: $4.78B - 5.02B; Net Income: $69M - 78M; Non-GAAP Net Income: $101M - 110M; EPS: $2.86 - 3.24; Non-GAAP EPS: $4.19 - 4.57.
Wed, Nov. 9, 6:33 AM
Tue, Nov. 8, 5:30 PM
Thu, Sep. 1, 11:43 AM
- In a regulatory filing, Magellan Health (MGLN -2.6%) discloses that it has mutually agreed to an early termination (effective today) of most of the services it provided under a pharmacy benefit management (PBM) contract with an unnamed client. The company agreed to end the contract earlier than the formal end date of December 31 after the customer entered into a strategic partnership with another firm under which they intend to consolidate services under the partner's preferred PBM vendor. The customer represents 8.5% of Magellan's revenues.
- The company is in discussions with the customer related to specialty drug formulary services under the contract as well as new specialty drug management services.
- Management says the action will not impact its 2016 guidance.
Fri, Jul. 29, 6:33 AM
Thu, Jul. 28, 5:30 PM
Mon, May 16, 7:03 AM
- Magellan Health (NASDAQ:MGLN) agrees to acquire privately held Armed Forces Services Corporation (AFSC) for $117.5M in cash plus up to an additional $10M based on the retention of certain core business of AFSC. The transaction should close in Q3.
- AFSC provides behavioral health and specialty services to all five branches of the U.S. Armed Forces through ~60 contracts with the federal government. Services include life coaching, counseling, training, rehabilitation, transition assistance, recruitment and retention and family programs. It employs 1,800 people and operates in all 50 states. In 2015, it earned ~$16.5M on revenues of ~$135M.
- Magellan will update is guidance to include AFSC in its next earnings call in July.
Thu, May 5, 6:32 AM
- Magellan Health Services (NASDAQ:MGLN): Q1 EPS of $0.79 beats by $0.24.
- Revenue of $1.12B (+14.2% Y/Y) beats by $80M.
Wed, May 4, 5:30 PM
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Mon, Feb. 29, 6:34 AM
- Magellan Health Services (NASDAQ:MGLN): Q4 EPS of $1.39 beats by $0.56.
- Revenue of $1.27B (+29.3% Y/Y) beats by $50M.
Sun, Feb. 28, 5:30 PM
Tue, Feb. 9, 9:40 AM
- With the aim of expanding its presence in managed long-term services and supports (MLTSS), Magellan Health (MGLN) acquires The Management Group, LLC, (TMG) a 30-year player in the space.
- TMG currently supports ~13K people in Wisconsin through the state's Include, Respect I Self-Direct (IRIS) program, which serves adults with physical and/or developmental disabilities and frail elderly.
- Financial terms are not disclosed but the deal includes an earnout based on winning future MLTSS contracts in other states.
Nov. 19, 2015, 3:01 PM
- Medical insurers and managed care providers are taking it on the chin today. UnitedHealth Group (UNH -5.5%) brought the rain with its softer earnings guidance as a result of weaker demand for individual insurance purchased through exchanges. It seems that the premium hikes, which the Affordable Care Act was supposed to curtail, are having their predictable effect.
- Previously: UnitedHealth Group down 6% on lowered guidance (Nov. 19)
- Related tickers: (AET -7.3%)(CI -5.7%)(HUM -4.2%)(CNC -9%)(ANTM -6.8%)(WCG -4.6%)(MGLN -4.4%)(HNT -5.2%)
Oct. 27, 2015, 6:31 AM
- Magellan Health Services (NASDAQ:MGLN): Q3 EPS of $0.76 beats by $0.27.
- Revenue of $1.19B (+28.9% Y/Y) beats by $20M.