CorVel (NASDAQ:CRVL) Raised to Buy at StockNews.com

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a research report released on Wednesday morning.

CorVel Stock Performance

Shares of CRVL stock opened at $110.27 on Wednesday. CorVel has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The firm has a market capitalization of $5.66 billion, a PE ratio of 64.87 and a beta of 1.16. The stock’s 50-day simple moving average is $122.71 and its 200-day simple moving average is $113.90.

CorVel (NASDAQ:CRVL) last issued its earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Transactions at CorVel

In other CorVel news, EVP Mark E. Bertels sold 1,050 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total transaction of $125,072.50. Following the transaction, the executive vice president now owns 2,580 shares in the company, valued at approximately $307,321. This represents a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the transaction, the director now owns 118,213 shares in the company, valued at $13,758,811.07. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,773 shares of company stock worth $2,729,140 over the last quarter. 47.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CorVel

A number of hedge funds have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in CorVel by 193.7% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider’s stock worth $635,779,000 after purchasing an additional 3,768,440 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of CorVel by 202.1% in the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider’s stock valued at $365,116,000 after acquiring an additional 2,195,466 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of CorVel by 184.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider’s stock valued at $206,813,000 after acquiring an additional 1,204,611 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CorVel by 187.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider’s stock valued at $171,969,000 after acquiring an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of CorVel by 204.6% in the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider’s stock valued at $94,074,000 after acquiring an additional 567,984 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Company Profile

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.