Magellan Health (NASDAQ:MGLN) Provides Weak Outlook for Fiscal 2013; Picks Barry Smith as CEO – MGLN, ACUR, JNJ, GSK, AMRN, HCA, BSX

Magellan Health Services Inc (NASDAQ:MGLN) offered its 2013 estimates, by anticipating net revenue between $3.56 billion to $3.74 billion, net income in the range of $91 million to $109 million, translating into EPS of $3.22 to $3.85 inclusive of share buyback to date.

Thomson Reuters analysts survey most recently projects EPS of $4.24 and $3.64 billion of revenues for 2013. Analysts’ forecasts usually exclude special items.

Magellan Health Services also reported that Barry Smith, a board member, would be picked Chief Executive officer substituting Chairman and Chief Executive Rene Lerer, who will become company’s executive chairman effective Jan 1.

Rene Lerer will serve in that position through 2013, becoming non-executive chairman for 2014.

Other Healthcare stocks with bullish trend include Acura Pharmaceuticals, Inc (NASDAQ:ACUR) up 65.71% to $4.00, Johnson & Johnson (NYSE:JNJ) up +1.22% to $71.46 and GlaxoSmithKline plc (ADR) (NYSE:GSK) up +0.80% to $44.31, whereas with bearish trend include HCA Holdings Inc (NYSE:HCA) down -3.10% to $32.82, Amarin Corporation plc (ADR) (NASDAQ:AMRN) down -4.50% to $8.92 and Boston Scientific Corporation (NYSE:BSX) down -0.35% to $5.69.

Magellan Health Services Inc (NASDAQ:MGLN) dropped -6.67% or -$3.53 to trading at $49.45 following it hit intra day high level of $52.19. The total traded volume in the current trading session is 443,567.00 shares as compared to average 209,398.00 shares. Its fifty two week trading range is $40.24 – $56.58. The total market capitalization reached 1.37 billion.

The stock price was ahead its 52 week low price with +22.29% and it lagged behind -13.03% from its 52 week maximum mark. Stock price volatility for last month remained 2.29%. In its share capital, the company has 27.65 million outstanding shares out of which 27.14 million shares have been floated in the market. For now, stock ownership with company’s management remained 0.05%.

MGLN presented a optimistic weekly performance of +1.22% with respect to its rate of return and it remained +7.33% for the month. However, the performance for a quarter experienced a positive change of +5.29% and it increased +6.21% for a year and its year to date performance remained in green with +7.10%.

Current stock price is in the downbeat territory taking into account of 20 days moving average with -2.79% and continued pessimistic run for 50 days moving average -2.19%. Its earning per share for the past twelve months was $5.14. Company’s beta coefficient was at 0.59. Beta measures the amount of market risk associated with market trade.

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