CorVel (NASDAQ:CRVL) Announces Quarterly Earnings Results

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

CorVel Price Performance

NASDAQ:CRVL traded up $1.54 on Tuesday, reaching $84.78. The stock had a trading volume of 23,690 shares, compared to its average volume of 212,689. CorVel has a 12-month low of $44.83 and a 12-month high of $85.15. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 37.68 and a beta of 1.07. The firm’s fifty day moving average is $74.97 and its two-hundred day moving average is $62.66.

Insider Transactions at CorVel

In other CorVel 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 transaction, the vice president directly owned 2,173 shares of the company’s stock, valued at $154,109.16. This represents a 49.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R. Jessup sold 4,023 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 111,798 shares of the company’s stock, valued at approximately $7,833,685.86. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,947 shares of company stock valued at $630,420. 39.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of CorVel from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

About CorVel

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.