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Magellan Health Tops Street – Analyst Blog
Zacks Market Commentaries (November 2nd, 2009) Writes:
Magellan Health Services Inc. (MGLN) reported third quarter results last Friday. The company posted a 31.9% growth in net income to $31.0 million or 88 cents per share, compared to $23.5 million or 58 cents per share in the year-ago period, and easily surpassed the Zacks Consensus Estimate by 21 cents. The strong result was primarily driven by the acquisition of First Health coupled with the solid performance of the Specialty Pharmacy segment.
Magellan Health offers managed behavioral healthcare, radiology benefits management and pharmaceutical management services to health plans, insurance companies, corporations, labor unions and various governmental agencies in the U.S. During July this year, the company completed the acquisition of First Health Services Corp., a subsidiary of Coventry Health Care Inc. (CVH). First Health provides pharmacy benefits administration, health care management and IT services to state Medicaid programs.
The company said net revenues recorded ...
Tags for this Post:
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Analyst, behavioral health services;, behavioral healthcare, cent;, Coventry Health Care Inc.;, First Health, First Health Services Corp., Georgia, governmental agencies, Health Care Management, Insurance, Investing Lessons, Magellan Health Services Inc;, Medicare, pharmaceutical management services, Specialty Pharmacy;, Stocks to Watch, Tops Street;, USD, WellCare Health Plans Inc., Zacks Market Commentaries
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