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

CorVel Co. (NASDAQ:CRVL)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $370.00 and last traded at $365.59, with a volume of 9060 shares changing hands. 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 note on Saturday, August 31st.

CorVel Price Performance

The stock has a 50-day simple moving average of $323.20 and a 200-day simple moving average of $293.30. The stock has a market cap of $6.25 billion, a PE ratio of 76.47 and a beta of 1.10.

Institutional Investors Weigh In On CorVel

A number of institutional investors have recently added to or reduced their stakes in CRVL. Janus Henderson Group PLC grew its position in CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after acquiring an additional 42,696 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of CorVel by 41.8% in the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after buying an additional 34,155 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of CorVel by 1.1% in the second 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 during the period. Barclays PLC boosted its position in shares of CorVel by 380.8% in the third quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock worth $5,223,000 after buying an additional 12,654 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of CorVel by 3.9% in the third quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock worth $83,000,000 after buying an additional 9,571 shares during the period. Hedge funds and other institutional investors 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.