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Magellan Health (MGLN) Surges: Stock Moves 6.7% Higher

Magellan Health, Inc.MGLN 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 , which carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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