Barclays Maintains an 'Overweight' on Magellan Health Services (MGLN); Notes From Meeting with CEO

May 31, 2012 2:37 PM EDT
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Price: $75.95 --0%

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Barclays maintains an 'Overweight' on Magellan Health Services (NASDAQ: MGLN) price target of $57.00.

Analyst, Joshua R. Raskin, reports some notes from a recent visit with MGLN management including: 1) CEO Lerer provided additional perspectives surrounding the Fallon Total Care Joint Venture, in response to the Massachusetts Duals RFP; 2) We again heard that Magellan had filed for a full HMO license in an un-named state to create its own Medicaid health plan. 3) Taking a step back, the company believes that the management of the SMI population will be an entirely new ball game.

Regarding acquisitions, Magellan mentioned that it would likely look for companies that advance their new Medicaid strategy as well as assets that were bolt-ons for their existing book of business.

For an analyst ratings summary and ratings history on Magellan Health Services click here. For more ratings news on Magellan Health Services click here.

Shares of Magellan Health Services closed at $41.83 yesterday.

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