CorVel (NASDAQ:CRVL) Issues Earnings Results

CorVel (NASDAQ:CRVL) issued its earnings results on Tuesday. The business services provider reported $0.46 earnings per share for the quarter, Zacks reports. CorVel had a net margin of 9.64% and a return on equity of 31.73%.

CorVel Stock Performance

CRVL traded down $2.53 on Thursday, reaching $125.93. The company had a trading volume of 6,832 shares, compared to its average volume of 104,312. The business has a 50 day simple moving average of $123.83 and a 200 day simple moving average of $112.27. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 80.21 and a beta of 1.16. CorVel has a 52-week low of $76.20 and a 52-week high of $128.61.

Analysts Set New Price Targets

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

Insider Activity 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 value of $125,072.50. Following the transaction, the executive vice president now owns 2,580 shares in the company, valued at approximately $307,321. This trade represents a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 47.57% of the stock is currently owned by insiders.

CorVel Company Profile

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.