CorVel (NASDAQ:CRVL) Issues Earnings Results

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

CorVel Stock Down 0.7%

CRVL opened at $82.64 on Wednesday. The company has a market capitalization of $4.22 billion, a PE ratio of 36.99 and a beta of 1.07. The firm has a 50-day simple moving average of $75.20 and a two-hundred day simple moving average of $62.74. CorVel has a 52 week low of $44.83 and a 52 week high of $85.79.

Analyst Upgrades and Downgrades

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 equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, CorVel has an average rating of “Hold”.

Insider Activity

In other 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 transaction of $148,932.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R. Jessup sold 4,023 shares of the 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 transaction, the director owned 111,798 shares of the company’s stock, valued at $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. Insiders sold 8,947 shares of company stock worth $630,420 over the last ninety days. 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.