CorVel (NASDAQ:CRVL) Reaches New 52-Week High – Should You Buy?

CorVel Co. (NASDAQ:CRVL)’s share price reached a new 52-week high on Wednesday . The company traded as high as $128.44 and last traded at $127.46, with a volume of 124812 shares. The stock had previously closed at $124.63.

Analyst Ratings Changes

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

CorVel Stock Performance

The firm has a market cap of $6.56 billion, a PE ratio of 81.87 and a beta of 1.16. The company’s 50-day simple moving average is $123.67 and its two-hundred day simple moving average is $112.16.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a return on equity of 31.73% and a net margin of 9.64%.

Insiders Place Their Bets

In other CorVel news, EVP Mark E. Bertels sold 1,050 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $119.12, for a total transaction of $125,072.50. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. Insiders own 47.57% of the company’s stock.

Institutional Trading of CorVel

A number of large investors have recently made changes to their positions in the stock. Boston Trust Walden Corp raised its stake in shares of CorVel by 196.8% in the fourth quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider’s stock worth $76,775,000 after purchasing an additional 457,538 shares during the last quarter. State Street Corp lifted its position in shares of CorVel by 0.8% in the third quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock valued at $117,703,000 after acquiring an additional 2,959 shares in the last quarter. Geode Capital Management LLC boosted its stake in CorVel by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock worth $83,000,000 after purchasing an additional 9,571 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in CorVel by 184.2% in the 4th quarter. Bank of New York Mellon Corp now owns 183,447 shares of the business services provider’s stock valued at $20,410,000 after acquiring an additional 118,888 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in CorVel by 210.2% in the 4th quarter. Principal Financial Group Inc. now owns 139,836 shares of the business services provider’s stock valued at $15,558,000 after buying an additional 94,751 shares in the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

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.