CorVel (NASDAQ:CRVL) Issues Quarterly Earnings Results

CorVel (NASDAQ:CRVL) posted its quarterly earnings data on Tuesday. The business services provider reported $0.63 EPS for the quarter, FiscalAI reports. CorVel had a net margin of 11.51% and a return on equity of 29.92%. The company had revenue of $259.93 million during the quarter.

CorVel Stock Up 8.6%

Shares of CorVel stock traded up $5.09 on Wednesday, hitting $64.19. 167,762 shares of the company’s stock traded hands, compared to its average volume of 225,161. The stock has a market cap of $3.27 billion, a P/E ratio of 30.00 and a beta of 0.98. The firm’s 50-day moving average is $60.95 and its 200 day moving average is $57.92. CorVel has a 52-week low of $44.83 and a 52-week high of $93.71.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings raised CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Insider Buying and Selling

In other CorVel news, Director Jeffrey J. Michael sold 9,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total transaction of $548,820.00. Following the transaction, the director directly owned 559,721 shares in the company, valued at $34,131,786.58. This represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jennifer Yoss sold 1,999 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total transaction of $121,978.98. Following the transaction, the vice president directly owned 2,173 shares of the company’s stock, valued at approximately $132,596.46. This represents a 47.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,249 shares of company stock worth $807,126. Insiders own 39.72% of the company’s stock.

Institutional Investors Weigh In On CorVel

Institutional investors and hedge funds have recently made changes to their positions in the company. Evergreen Capital Management LLC bought a new stake in shares of CorVel during the 4th quarter valued at about $784,000. M&T Bank Corp raised its position in shares of CorVel by 1,230.0% during the 4th quarter. M&T Bank Corp now owns 63,439 shares of the business services provider’s stock worth $4,293,000 after purchasing an additional 58,669 shares during the period. Fifth Third Bancorp lifted its holdings in shares of CorVel by 8,676.7% in the 1st quarter. Fifth Third Bancorp now owns 22,556 shares of the business services provider’s stock worth $1,233,000 after purchasing an additional 22,299 shares during the last quarter. Granahan Investment Management LLC boosted its position in CorVel by 36.2% during the 1st quarter. Granahan Investment Management LLC now owns 79,896 shares of the business services provider’s stock valued at $4,366,000 after purchasing an additional 21,217 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in CorVel during the 1st quarter worth $754,000. 51.36% of the stock is owned by institutional investors and hedge funds.

CorVel Company Profile

CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).