CorVel (NASDAQ:CRVL) Hits New 52-Week High – Still a Buy?

Shares of CorVel Co. (NASDAQ:CRVL) hit a new 52-week high on Friday . The stock traded as high as $370.00 and last traded at $365.59, with a volume of 9060 shares. The stock had previously closed at $360.19.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

CorVel Price Performance

The stock has a fifty day moving average price of $323.20 and a two-hundred day moving average price of $293.30. The company has a market cap of $6.25 billion, a P/E ratio of 76.47 and a beta of 1.10.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of CorVel by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock worth $489,631,000 after buying an additional 21,673 shares in the last quarter. State Street Corp boosted its stake in shares of CorVel by 0.8% during the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock worth $117,703,000 after acquiring an additional 2,959 shares in the last quarter. Geode Capital Management LLC lifted its stake in CorVel by 3.9% during the third quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock valued at $83,000,000 after buying an additional 9,571 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of CorVel by 41.8% during the second 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in CorVel by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider’s stock worth $28,190,000 after acquiring an additional 6,061 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

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.