CorVel (NASDAQ:CRVL) Announces Earnings Results

CorVel (NASDAQ:CRVL) released its quarterly earnings results on Tuesday. The business services provider reported $0.47 earnings per share (EPS) for the quarter, Zacks reports. CorVel had a net margin of 11.28% and a return on equity of 31.72%.

CorVel Stock Down 3.9%

NASDAQ:CRVL opened at $66.92 on Tuesday. CorVel has a 12 month low of $65.47 and a 12 month high of $128.61. The company’s 50-day moving average price is $69.70 and its two-hundred day moving average price is $77.27. The firm has a market cap of $3.43 billion, a PE ratio of 33.44 and a beta of 1.06.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of CorVel in a research report on Friday, January 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, CorVel has an average rating of “Hold”.

Insider Transactions at CorVel

In other CorVel news, Director R Judd Jessup sold 7,076 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $76.94, for a total transaction of $544,427.44. Following the completion of the sale, the director directly owned 115,045 shares of the company’s stock, valued at approximately $8,851,562.30. The trade was a 5.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark E. Bertels sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $72.35, for a total transaction of $86,820.00. Following the completion of the transaction, the executive vice president directly owned 2,594 shares in the company, valued at $187,675.90. This trade represents a 31.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,733 shares of company stock valued at $894,686 over the last ninety days. 44.56% of the stock is currently owned by company insiders.

Institutional Trading of CorVel

Several institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in CorVel by 0.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider’s stock worth $1,640,000 after buying an additional 115 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of CorVel by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider’s stock valued at $1,636,000 after acquiring an additional 139 shares during the period. Ameriprise Financial Inc. grew its holdings in CorVel by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 74,775 shares of the business services provider’s stock valued at $7,685,000 after purchasing an additional 238 shares during the period. California State Teachers Retirement System increased its stake in CorVel by 1.0% in the second quarter. California State Teachers Retirement System now owns 26,177 shares of the business services provider’s stock valued at $2,690,000 after purchasing an additional 267 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in CorVel by 2.3% in the second quarter. SkyView Investment Advisors LLC now owns 14,112 shares of the business services provider’s stock worth $1,462,000 after purchasing an additional 314 shares during the period. Institutional investors own 51.36% of the company’s stock.

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).