NEW YORK ( TheStreet) -- Magellan Health Services (Nasdaq: MGLN) hit a new 52-week high Wednesday as it is currently trading at $55.91, above its previous 52-week high of $55.87 with 80,163 shares traded as of 2:46 p.m. ET. Average volume has been 250,000 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 15.7% year to date as of the close of trading on Tuesday.

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 22.3, above the average health services industry P/E ratio of 12.6 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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