NEW YORK ( TheStreet) -- Magellan Health Services (Nasdaq: MGLN) hit a new 52-week high Thursday as it is currently trading at $54.13, above its previous 52-week high of $54.10 with 15,234 shares traded as of 10:08 a.m. ET. Average volume has been 248,500 shares over the past 30 days.

Magellan Health Services has a market cap of $1.7 billion and is part of the health care sector and health services industry. Shares are up 13.3% year to date as of the close of trading on Wednesday.

Magellan Health Services, Inc. provides managed behavioral healthcare, radiology benefits management, specialty pharmaceutical management, and Medicaid administration products and services in the United States. The company has a P/E ratio of 21.8, above the average health services industry P/E ratio of 12.4 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Magellan Health Services as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Magellan Health Services Ratings Report.

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