Molina Healthcare Inc. (MOH: Quote) announced in an SEC filing on Friday that the Ohio Department of Jobs and Family Services notified Molina Healthcare of Ohio Inc. that it had not been selected to participate under the recently issued Ohio Medicaid Managed Care Plan Request for Applications. As a result, its existing contract with the state will expire without renewal on December 31, 2012.
Molina Healthcare has gapped open sharply lower Monday and is now down 7.96 at $27.05 on above average volume. The stock has dropped to nearly a 3-month low and has fallen below its 50-day moving average.
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by RTT Staff Writer
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