The motion of neutral particles with magnetic moments in an inhomogeneous
magnetic field is described in a quantum mechanical framework. The validity of
the semi-classical approximations which are generally used to describe these
phenomena is discussed. Approximate expressions for the evolution operator are
derived and compared to the exact calculations. Focusing and spin-flip
phenomena are predicted. The reliability of Stern-Gerlach experiments to
measure spin projections is assessed in this framework.Comment: 12 pages, 7 eps figures included, revtex, submitted to PR