StockNews.com upgraded shares of CorVel (NASDAQ:CRVL – Free Report) from a hold rating to a buy rating in a report issued on Friday.
CorVel Stock Up 2.2 %
Shares of CRVL stock opened at $314.57 on Friday. CorVel has a 12 month low of $187.92 and a 12 month high of $321.46. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 71.49 and a beta of 1.08. The stock has a 50-day moving average price of $281.87 and a 200 day moving average price of $259.66.
CorVel (NASDAQ:CRVL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. CorVel had a net margin of 9.55% and a return on equity of 33.26%. The business had revenue of $211.72 million during the quarter.
Insider Activity
Hedge Funds Weigh In On CorVel
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of CorVel by 1.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock valued at $489,631,000 after purchasing an additional 21,673 shares during the period. Assenagon Asset Management S.A. raised its position in CorVel by 41.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock valued at $29,464,000 after buying an additional 34,155 shares during the last quarter. Norges Bank acquired a new position in CorVel during the 4th quarter worth approximately $19,974,000. Bank of New York Mellon Corp grew its stake in shares of CorVel by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider’s stock worth $18,719,000 after acquiring an additional 1,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CorVel by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock valued at $18,187,000 after purchasing an additional 2,252 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.
About CorVel
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.
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