CorVel (NASDAQ:CRVL) Posts Quarterly Earnings Results

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

CorVel Stock Performance

CorVel stock traded up $4.96 during midday trading on Wednesday, hitting $64.06. 173,306 shares of the company’s stock were exchanged, compared to its average volume of 225,204. The firm’s 50 day simple moving average is $60.95 and its 200 day simple moving average is $57.92. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 29.90 and a beta of 0.98. CorVel has a 12-month low of $44.83 and a 12-month high of $93.71.

Wall Street Analysts Forecast Growth

CRVL has been the subject of several research reports. Weiss Ratings upgraded shares of CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Insider Activity at CorVel

In related news, Director Jeffrey J. Michael sold 9,000 shares of CorVel stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total value of $548,820.00. Following the sale, the director directly owned 559,721 shares in the company, valued at $34,131,786.58. The trade was a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Maxim Shishin sold 2,250 shares of CorVel stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $60.59, for a total transaction of $136,327.50. Following the sale, the insider owned 7,050 shares of the company’s stock, valued at approximately $427,159.50. The trade was a 24.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,249 shares of company stock worth $807,126 over the last 90 days. Company insiders own 39.72% of the company’s stock.

Hedge Funds Weigh In On CorVel

A number of large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in CorVel in the third quarter valued at approximately $31,000. Los Angeles Capital Management LLC purchased a new stake in CorVel during the 4th quarter worth approximately $33,000. Quarry LP raised its holdings in CorVel by 218.6% in the third quarter. Quarry LP now owns 513 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 352 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of CorVel during the fourth quarter worth about $37,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of CorVel by 66.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other 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).