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

Wall Street Zen upgraded shares of CorVel (NASDAQ:CRVL) from a buy rating to a strong-buy rating in a research report report published on Saturday,Wall Street Zen reports.

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

CorVel Stock Down 0.9%

Shares of CRVL traded down $0.81 during trading on Friday, reaching $85.69. 117,707 shares of the company traded hands, compared to its average volume of 173,260. CorVel has a twelve month low of $44.83 and a twelve month high of $89.76. The stock has a market cap of $4.31 billion, a PE ratio of 36.00 and a beta of 1.07. The stock has a 50-day simple moving average of $77.63 and a 200-day simple moving average of $63.34.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $0.67 EPS for the quarter. 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.

Insider Activity at CorVel

In related news, Director R. Jessup sold 4,023 shares of CorVel 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 in the company, valued at approximately $154,109.16. The trade was a 49.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 19,947 shares of company stock worth $1,554,860. Corporate insiders own 39.72% of the company’s stock.

Institutional Trading of CorVel

A number of large investors have recently modified their holdings of CRVL. BlackRock Inc. purchased a new position in CorVel in the second quarter valued at $321,316,000. Algert Global LLC grew its stake in CorVel by 67.0% during the 2nd quarter. Algert Global LLC now owns 383,419 shares of the business services provider’s stock worth $23,971,000 after purchasing an additional 153,877 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in CorVel during the 2nd quarter worth about $11,439,000. Principal Financial Group Inc. increased its holdings in CorVel by 8.4% during the 1st quarter. Principal Financial Group Inc. now owns 179,600 shares of the business services provider’s stock worth $9,815,000 after purchasing an additional 13,938 shares during the period. Finally, Bank of America Corp DE purchased a new stake in CorVel during the 2nd quarter worth about $8,073,000. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Company Profile

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.