CorVel (NASDAQ:CRVL) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.
NASDAQ CRVL opened at $54.85 on Friday. CorVel has a 1 year low of $44.81 and a 1 year high of $61.20. The firm has a market capitalization of $1.02 billion, a P/E ratio of 28.90 and a beta of 0.68.
CorVel (NASDAQ:CRVL) last released its earnings results on Thursday, May 31st. The business services provider reported $0.47 earnings per share (EPS) for the quarter. CorVel had a return on equity of 23.11% and a net margin of 6.39%. The firm had revenue of $143.57 million for the quarter.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of CorVel by 3.0% in the 1st quarter. BlackRock Inc. now owns 1,339,737 shares of the business services provider’s stock valued at $67,724,000 after acquiring an additional 38,632 shares during the period. Dimensional Fund Advisors LP grew its position in CorVel by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 791,983 shares of the business services provider’s stock worth $40,035,000 after purchasing an additional 2,156 shares during the period. Geode Capital Management LLC grew its position in CorVel by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 155,359 shares of the business services provider’s stock worth $8,218,000 after purchasing an additional 9,694 shares during the period. Russell Investments Group Ltd. grew its position in CorVel by 7.5% during the 1st quarter. Russell Investments Group Ltd. now owns 120,686 shares of the business services provider’s stock worth $6,100,000 after purchasing an additional 8,433 shares during the period. Finally, Ancora Advisors LLC grew its position in CorVel by 17.7% during the 1st quarter. Ancora Advisors LLC now owns 109,939 shares of the business services provider’s stock worth $5,557,000 after purchasing an additional 16,529 shares during the period. 43.83% of the stock is currently owned by hedge funds and other institutional investors.
CorVel Company Profile
CorVel Corporation provides medical cost containment and managed care services to address the medical costs of workers' compensation benefits, automobile insurance claims, and group health insurance benefits. The company offers network solutions, including automated medical fee auditing, preferred provider management and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review.
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