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Stock Market & Financial Investment News

News Breaks
December 31, 2012
10:48 EDTMGLNMagellan Health lost Horizon contract in New Jersey, says Citigroup
Citigroup notes that this morning, Magellan Health announced loss of its contract with Horizon Blue Cross Blue Shield in New Jersey. Citi estimates contract will generate $193M in revenue in 2012, down from a peak of $243M in 2010. The firm points out the current contract does not expire until the end of 2013, so Magellan's earnings won't be pressured until 2014. Citi lowered its 2014 earnings estimate for Magellan to $4.35 from $5.00, but keeps a Buy rating on the stock with a $58 price target.
News For MGLN From The Last 14 Days
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April 30, 2015
06:46 EDTMGLNMagellan Health raises FY15 adjusted EPS view to $3.41-$3.85 from $3.33-$3.79
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06:42 EDTMGLNMagellan Health reports Q1 adjusted EPS 94c, may not compare to consensus 39c
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