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Magellan Health Services (NASDAQ:MGLN) was downgraded by TheStreet from a “buy” rating to a “hold” rating in a research note issued on Monday, Analyst Ratings Network.com reports.

The analysts wrote, “Magellan Health Services (MGLN) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company’s earnings per share, deteriorating net income and disappointing return on equity.”

Shares of Magellan Health Services (NASDAQ:MGLN) traded up 0.27% during mid-day trading on Monday, hitting $56.52. The stock had a trading volume of 53,324 shares. Magellan Health Services has a one year low of $48.57 and a one year high of $62.00. The stock’s 50-day moving average is $59.34 and its 200-day moving average is $59.56. The company has a market cap of $1.553 billion and a P/E ratio of 12.44.

Magellan Health Services (NASDAQ:MGLN) last announced its earnings results on Monday, March 3rd. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.83 by $0.16. The company had revenue of $1.01 million for the quarter, compared to the consensus estimate of $990.55 million. During the same quarter in the prior year, the company posted $1.32 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis. Analysts expect that Magellan Health Services will post $2.54 EPS for the current fiscal year.

A number of other firms have also recently commented on MGLN. Analysts at Leerink Swann initiated coverage on shares of Magellan Health Services in a research note on Thursday, February 27th. They set a “market perform” rating and a $65.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Magellan Health Services from an “underperform” rating to a “neutral” rating in a research note on Tuesday, February 18th. They now have a $60.90 price target on the stock. Finally, analysts at Barclays downgraded shares of Magellan Health Services from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 8th. They now have a $66.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $60.82.

Magellan Health Services Inc, is engaged in the specialty managed healthcare business. The Company provides services to health plans, insurance companies, employers, labor unions and various governmental agencies.

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