CorVel (NASDAQ:CRVL) Issues Quarterly Earnings Results

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

CorVel Trading Down 2.0 %

NASDAQ:CRVL traded down $2.53 during midday trading on Thursday, hitting $125.93. 6,832 shares of the company traded hands, compared to its average volume of 104,312. The firm’s fifty day moving average is $123.83 and its 200-day moving average is $112.27. CorVel has a 12-month low of $76.20 and a 12-month high of $128.61. The firm has a market capitalization of $6.42 billion, a P/E ratio of 80.21 and a beta of 1.16.

Analysts Set New Price Targets

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

Insider Activity at CorVel

In other CorVel news, EVP Mark E. Bertels sold 1,050 shares of the 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 47.57% of the stock is currently owned by insiders.

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.