CorVel (NASDAQ:CRVL) Upgraded by StockNews.com to Buy Rating

CorVel (NASDAQ:CRVL) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

CorVel Trading Up 7.3 %

Shares of CRVL opened at $115.56 on Tuesday. CorVel has a 12 month low of $76.20 and a 12 month high of $128.61. The firm has a fifty day simple moving average of $111.80 and a 200 day simple moving average of $114.92. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 67.98 and a beta of 0.94.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Insider Buying and Selling at CorVel

In other news, Director Jeffrey J. Michael sold 10,477 shares of CorVel stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $116.45, for a total value of $1,220,046.65. Following the completion of the transaction, the director now owns 568,310 shares of the company’s stock, valued at $66,179,699.50. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares in the company, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,200 shares of company stock worth $3,824,115 over the last ninety days. 47.57% of the stock is currently owned by corporate insiders.

Institutional Trading of CorVel

A number of hedge funds have recently made changes to their positions in the business. LGT Financial Advisors LLC raised its stake in CorVel by 200.0% in the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 170 shares during the period. Bessemer Group Inc. increased its holdings in shares of CorVel by 6,350.0% in the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 254 shares during the last quarter. Fifth Third Bancorp raised its position in shares of CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of CorVel during the 4th quarter worth about $37,000. Finally, US Bancorp DE boosted its holdings in shares of CorVel by 225.4% during the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after buying an additional 266 shares during the period. 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.