Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Molina Healthcare (NYSE: MOH) fell more than 11%, just one day after they rallied as much as 8% on news that the company had won a portion of Texas' Medicaid contract.

So what: Maybe the Texas Medicaid program won't benefit Molina as much as investors had originally thought? Peer Amerigroup (NYSE: AGP) is also down today, but that seems to owe more to a Bank of America downgrade than anything else.

Now what: Either way, Molina trades for a slight discount to the long-term earnings growth rate analysts expect, resulting in a 0.90 PEG ratio according to Yahoo! Finance data. Is that fair? You tell me. Weigh in using the comments box below.

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