CorVel (NASDAQ:CRVL) Announces Quarterly Earnings Results

CorVel (NASDAQ:CRVL) released its quarterly earnings data on Tuesday. The business services provider reported $0.61 earnings per share for the quarter, FiscalAI reports. CorVel had a return on equity of 30.15% and a net margin of 11.23%.The business had revenue of $248.55 million during the quarter.

CorVel Stock Performance

NASDAQ CRVL opened at $58.82 on Wednesday. The company has a market capitalization of $3.01 billion, a PE ratio of 28.83 and a beta of 0.98. The business’s fifty day moving average is $55.29 and its 200 day moving average is $61.89. CorVel has a fifty-two week low of $44.83 and a fifty-two week high of $117.22.

Insider Activity at CorVel

In other news, insider Maxim Shishin sold 2,400 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $54.00, for a total value of $129,600.00. Following the transaction, the insider directly owned 7,050 shares in the company, valued at $380,700. The trade was a 25.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 44.56% of the stock is owned by insiders.

Institutional Investors Weigh In On CorVel

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in CorVel by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock worth $254,541,000 after acquiring an additional 45,071 shares during the last quarter. State Street Corp grew its stake in shares of CorVel by 2.7% during the fourth quarter. State Street Corp now owns 1,179,572 shares of the business services provider’s stock valued at $79,822,000 after buying an additional 30,987 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CorVel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 927,845 shares of the business services provider’s stock valued at $62,796,000 after purchasing an additional 28,666 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of CorVel by 14.6% in the third quarter. Thrivent Financial for Lutherans now owns 458,326 shares of the business services provider’s stock valued at $35,484,000 after purchasing an additional 58,323 shares during the period. Finally, Norges Bank purchased a new stake in shares of CorVel in the fourth quarter valued at approximately $29,250,000. 51.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings cut CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About CorVel

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).