CorVel (NASDAQ:CRVL) Issues Earnings Results

Key Points

• CorVel reported quarterly earnings of $0.67 per share on revenue of $267.13 million, with a 29.92% return on equity and an 11.72% net margin.
• Shares rose 1.9% to $84.78, near the stock’s 52-week high of $85.15. CorVel’s market capitalization is approximately $4.32 billion, with a price-to-earnings ratio of 37.68.
• Analyst sentiment remained at “Hold,” while company insiders sold 8,947 shares worth approximately $630,420 over the last quarter; insiders retain a 39.72% ownership stake.

CorVel (NASDAQ:CRVL - Get Free Report) posted its quarterly earnings data 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 company had revenue of $267.13 million during the quarter.

CorVel Trading Up 1.9%

Shares of NASDAQ:CRVL traded up $1.54 during midday trading on Tuesday, hitting $84.78. The stock had a trading volume of 23,690 shares, compared to its average volume of 212,689. The company has a market capitalization of $4.32 billion, a PE ratio of 37.68 and a beta of 1.07. The stock has a 50 day moving average price of $74.97 and a two-hundred day moving average price of $62.66. CorVel has a 1 year low of $44.83 and a 1 year high of $85.15.

Analysts Set New Price Targets

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

Insider Transactions at CorVel

In related news, Director R. Jessup sold 4,023 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $70.07, for a total transaction of $281,891.61. Following the completion of the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jennifer Yoss sold 2,100 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $70.92, for a total transaction of $148,932.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 8,947 shares of company stock worth $630,420. Company 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.

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