CorVel (NASDAQ:CRVL) Sets New 12-Month High – Time to Buy?

CorVel Co. (NASDAQ:CRVL) shares reached a new 52-week high on Wednesday . The company traded as high as $128.44 and last traded at $127.46, with a volume of 124812 shares traded. The stock had previously closed at $124.63.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of CorVel from a “buy” rating to a “hold” rating in a report on Friday, January 3rd.

CorVel Stock Performance

The stock has a market cap of $5.93 billion, a PE ratio of 74.01 and a beta of 1.16. The company’s 50 day simple moving average is $123.87 and its 200 day simple moving average is $112.35.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a net margin of 9.64% and a return on equity of 31.73%.

Insider Buying and Selling at CorVel

In other news, EVP Mark E. Bertels sold 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $119.12, for a total transaction of $125,072.50. Following the completion of the sale, the executive vice president now owns 2,580 shares in the company, valued at $307,321. This trade represents a 28.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 47.57% of the company’s stock.

Institutional Investors Weigh In On CorVel

Large investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of CorVel by 435.3% during the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after purchasing an additional 74 shares during the last quarter. Fifth Third Bancorp boosted its holdings in CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after buying an additional 101 shares during the period. Jones Financial Companies Lllp bought a new position in CorVel in the 4th quarter worth approximately $37,000. US Bancorp DE boosted its holdings in CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after buying an additional 266 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in CorVel by 175.2% in the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock worth $48,000 after buying an additional 275 shares during the period. Hedge funds and other institutional investors own 51.36% of the company’s stock.

About CorVel

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.