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Magellan Health (MGLN) Surges: Stock Moves 6.7% Higher
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Magellan Health, Inc. was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $53.42 –$62.56 in the past one-month time frame, witnessed a sharp increase yesterday.
The move came after news that Starboard Value acquired a 9.8% stake in health insurer and pharmacy-benefits manager Magellan Health.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Magellan Health currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
Is MGLN going up? Or down? Predict to see what others think:Up or Down
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
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Magellan Health (MGLN) Surges: Stock Moves 6.7% Higher
Magellan Health, Inc. was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $53.42 –$62.56 in the past one-month time frame, witnessed a sharp increase yesterday.
The move came after news that Starboard Value acquired a 9.8% stake in health insurer and pharmacy-benefits manager Magellan Health.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Magellan Health currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
Magellan Health, Inc. Price
Magellan Health, Inc. Price | Magellan Health, Inc. Quote
Investors interested in the Medical - HMOs industry may consider a better-ranked stock like Humana Inc. (HUM - Free Report) , which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is MGLN going up? Or down? Predict to see what others think:Up or Down
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>