Shares of Magellan Health Services Inc. (NASDAQ:MGLN) were down 2.4% during trading on Thursday . The stock traded as low as $55.23 and last traded at $55.76, with a volume of 161,060 shares trading hands. The stock had previously closed at $57.12.

Several analysts recently commented on MGLN shares. Zacks Investment Research downgraded shares of Magellan Health Services from a “buy” rating to a “sell” rating in a research report on Wednesday, August 3rd. TheStreet downgraded shares of Magellan Health Services from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Barclays PLC downgraded shares of Magellan Health Services from an “equal weight” rating to an “underweight” rating and set a $61.00 price objective on the stock. in a research report on Wednesday, June 1st. Jefferies Group reissued a “buy” rating and set a $83.00 price objective (up from $77.00) on shares of Magellan Health Services in a research report on Friday, May 6th. Finally, Leerink Swann reissued a “hold” rating on shares of Magellan Health Services in a research report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $68.50.

The company has a market cap of $1.37 billion and a PE ratio of 37.93. The stock’s 50 day moving average price is $62.13 and its 200 day moving average price is $65.00.

Magellan Health Services (NASDAQ:MGLN) last issued its earnings results on Friday, July 29th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.04. During the same period in the prior year, the company earned $0.56 earnings per share. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts forecast that Magellan Health Services Inc. will post $2.65 earnings per share for the current year.

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).

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