CorVel (NASDAQ:CRVL) Announces Quarterly Earnings Results

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

CorVel Stock Up 7.5 %

Shares of CRVL stock opened at $124.63 on Wednesday. CorVel has a fifty-two week low of $76.20 and a fifty-two week high of $127.24. The stock has a market cap of $6.36 billion, a P/E ratio of 79.38 and a beta of 1.16. The business has a fifty day simple moving average of $123.64 and a 200-day simple moving average of $111.95.

Analysts Set New Price Targets

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

Insider Activity

In other news, EVP Mark E. Bertels sold 1,050 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total value of $125,072.50. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 47.57% 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.