CorVel (NASDAQ:CRVL) Stock Rating Raised to “Strong-Buy” at Wall Street Zen

CorVel (NASDAQ:CRVL) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of CorVel from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

CorVel Stock Performance

Shares of NASDAQ:CRVL opened at $85.69 on Friday. The firm has a market capitalization of $4.31 billion, a PE ratio of 36.00 and a beta of 1.07. CorVel has a 52-week low of $44.83 and a 52-week high of $89.76. The firm has a fifty day moving average of $77.63 and a 200 day moving average of $63.34.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $0.67 earnings per share (EPS) for the quarter. The firm had revenue of $267.13 million during the quarter. CorVel had a return on equity of 30.20% and a net margin of 12.02%.

Insider Activity at CorVel

In other news, Director Steven Hamerslag sold 11,000 shares of CorVel stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $84.04, for a total value of $924,440.00. Following the sale, the director directly owned 276,000 shares in the company, valued at approximately $23,195,040. This trade represents a 3.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R. Jessup sold 4,023 shares of the company’s 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 approximately $7,833,685.86. This represents a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,947 shares of company stock worth $1,554,860 in the last 90 days. Company insiders own 39.72% of the company’s stock.

Hedge Funds Weigh In On CorVel

Institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC raised its holdings in CorVel by 2.5% in the third quarter. Empowered Funds LLC now owns 19,632 shares of the business services provider’s stock worth $1,464,000 after purchasing an additional 485 shares in the last quarter. First Trust Advisors LP grew its position in shares of CorVel by 378.0% in the 3rd quarter. First Trust Advisors LP now owns 35,474 shares of the business services provider’s stock worth $2,645,000 after buying an additional 28,053 shares during the period. Focus Advisor Solutions LLC bought a new position in shares of CorVel in the 3rd quarter worth about $274,000. Global Retirement Partners LLC lifted its position in CorVel by 106,133.3% during the 3rd quarter. Global Retirement Partners LLC now owns 3,187 shares of the business services provider’s stock valued at $238,000 after acquiring an additional 3,184 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in CorVel during the third quarter worth about $1,123,000. 51.36% of the stock is owned by institutional investors.

About CorVel

CorVel Corporation provides workers’ compensation and healthcare cost-management services to employers, insurers, and public entities. Its offerings are designed to help clients manage claims, coordinate care, and control healthcare-related costs. The company’s services include claims administration, medical bill review, provider network access, utilization review, case management, and pharmacy benefit management. CorVel also supports disability and liability claims management. Founded in 1987, CorVel serves customers across the United States through a combination of technology platforms and service teams.