CorVel (NASDAQ:CRVL) Issues Earnings Results

CorVel (NASDAQ:CRVL) announced its quarterly earnings results on Tuesday. The business services provider reported $0.67 EPS for the quarter, Zacks reports. The firm had revenue of $267.13 million for the quarter. CorVel had a net margin of 11.72% and a return on equity of 29.92%.

CorVel Price Performance

Shares of CRVL stock traded up $1.56 during midday trading on Tuesday, reaching $84.79. 31,627 shares of the company traded hands, compared to its average volume of 212,689. The firm’s 50 day simple moving average is $74.97 and its two-hundred day simple moving average is $62.66. The firm has a market cap of $4.33 billion, a PE ratio of 37.68 and a beta of 1.07. CorVel has a 1-year low of $44.83 and a 1-year high of $85.15.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded CorVel from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Insider Buying and Selling

In related news, VP Jennifer Yoss sold 2,100 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $70.92, for a total value of $148,932.00. Following the sale, the vice president owned 2,173 shares in the company, valued at $154,109.16. This represents a 49.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director R. Jessup sold 4,023 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $70.07, for a total value of $281,891.61. Following the completion of the transaction, the director directly owned 111,798 shares of the company’s stock, valued at $7,833,685.86. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,947 shares of company stock worth $630,420. Insiders own 39.72% of the company’s stock.

CorVel Company Profile

CorVel Corporation is a technology-enabled provider of workers’ compensation, auto liability, liability, and health care management services. The company helps employers, insurance carriers, government agencies, and third-party administrators manage claims, control medical costs, and coordinate care.

Its services include claims administration, medical bill review, utilization and clinical review, case management, pharmacy benefit management, provider networks, and other managed-care solutions.