CorVel (NASDAQ:CRVL) Announces Quarterly Earnings Results

CorVel (NASDAQ:CRVL) announced its quarterly earnings results on Tuesday. The business services provider reported $0.61 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $248.55 million for the quarter. CorVel had a net margin of 11.23% and a return on equity of 30.15%.

CorVel Stock Performance

Shares of NASDAQ:CRVL opened at $58.82 on Wednesday. CorVel has a 52 week low of $44.83 and a 52 week high of $117.22. The company’s fifty day moving average is $55.29 and its 200-day moving average is $61.89. The company has a market capitalization of $3.01 billion, a PE ratio of 28.83 and a beta of 0.98.

Insider Activity at CorVel

In other news, insider Maxim Shishin sold 2,400 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.00, for a total value of $129,600.00. Following the sale, the insider owned 7,050 shares in the company, valued at approximately $380,700. The trade was a 25.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 44.56% of the company’s stock.

Institutional Investors Weigh In On CorVel

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of CorVel by 24.8% in the 1st quarter. Royal Bank of Canada now owns 55,134 shares of the business services provider’s stock valued at $3,013,000 after purchasing an additional 10,957 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of CorVel by 1.5% in the 1st quarter. Empowered Funds LLC now owns 15,815 shares of the business services provider’s stock valued at $864,000 after purchasing an additional 239 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of CorVel by 328.4% in the 1st quarter. Quantinno Capital Management LP now owns 81,544 shares of the business services provider’s stock valued at $4,456,000 after purchasing an additional 62,508 shares in the last quarter. Granahan Investment Management LLC boosted its stake in shares of CorVel by 36.2% in the 1st quarter. Granahan Investment Management LLC now owns 79,896 shares of the business services provider’s stock valued at $4,366,000 after purchasing an additional 21,217 shares in the last quarter. Finally, Caxton Associates LLP lifted its position in CorVel by 27.0% during the 1st quarter. Caxton Associates LLP now owns 18,513 shares of the business services provider’s stock worth $1,012,000 after buying an additional 3,932 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

About CorVel

CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).