Barclays Maintains an 'Overweight' on Magellan Health Services (MGLN); Quarter Misses, But Company Reaffirmed Outlook
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Price: $94.99 --0%
Rating Summary:
3 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on Magellan Health Services (NASDAQ: MGLN) price target lowered from $62 to $57.
Analyst, Joshua R, Raskin, said, "Magellan reported earnings that came in below our estimates and the street consensus, but were likely closer to the company's internal projections as guidance was confirmed. It appears the weakness relative to our estimates was driven by margin compression, particularly in the radiology benefit management segment...On the positive side, the quality of the report was surprisingly strong, highlighted by strong cash flow generation, which came in at 1.8x net income. Magellan also confirmed guidance for the remainder of the year."
FY12 EPS estimates cut from $3.90 to $3.70 and FY13 from $4.30 to $4.10.
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 $46.15 yesterday.
Analyst, Joshua R, Raskin, said, "Magellan reported earnings that came in below our estimates and the street consensus, but were likely closer to the company's internal projections as guidance was confirmed. It appears the weakness relative to our estimates was driven by margin compression, particularly in the radiology benefit management segment...On the positive side, the quality of the report was surprisingly strong, highlighted by strong cash flow generation, which came in at 1.8x net income. Magellan also confirmed guidance for the remainder of the year."
FY12 EPS estimates cut from $3.90 to $3.70 and FY13 from $4.30 to $4.10.
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 $46.15 yesterday.
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