Molina Healthcare (MOH) Rebounds After Contract Continuation in Ohio

June 8, 2012 8:27 AM EDT
After getting clobbered on Thursday on woes in Texas, Molina Healthcare Inc. (NYSE: MOH) is sharply higher in pre-open trading Friday after announcing that it will continue as medicaid managed care provider in Ohio.

The Ohio Department of Job and Family Services (ODJFS) has upheld the protest filing of its Ohio health plan, Molina Healthcare of Ohio, and has recommended that Molina Healthcare of Ohio be awarded a Medicaid managed care provider agreement for coverage of the newly designated Central/Southeast, Northeast, and West regions. These three regions together represent the entire state of Ohio.

Shares of MOH last traded at $20.96, up 18 percent.

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