CorVel (NASDAQ:CRVL) Issues Quarterly Earnings Results

CorVel (NASDAQ:CRVL) announced its earnings results on Tuesday. The business services provider reported $0.67 earnings per share for the quarter, Zacks reports. CorVel had a net margin of 12.02% and a return on equity of 30.20%. The firm had revenue of $267.13 million for the quarter.

CorVel Stock Performance

Shares of CRVL stock traded up $2.03 during midday trading on Thursday, reaching $89.41. 19,549 shares of the company were exchanged, compared to its average volume of 213,804. CorVel has a 12 month low of $44.83 and a 12 month high of $89.76. The company’s 50 day moving average price is $75.54 and its two-hundred day moving average price is $62.83. The company has a market cap of $4.56 billion, a P/E ratio of 37.70 and a beta of 1.07.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at CorVel

In other CorVel news, VP Jennifer Yoss sold 2,100 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $70.92, for a total transaction of $148,932.00. Following the completion of the sale, the vice president directly owned 2,173 shares in the company, valued at $154,109.16. This represents a 49.15% decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $70.07, for a total transaction of $281,891.61. Following the transaction, the director owned 111,798 shares in the company, valued at approximately $7,833,685.86. The trade was a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,947 shares of company stock worth $630,420 over the last three months. 39.72% of the stock is owned by insiders.

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.