CorVel (NASDAQ:CRVL) Sets New 12-Month High – Time to Buy?

CorVel Co. (NASDAQ:CRVL) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $128.44 and last traded at $127.46, with a volume of 124812 shares trading hands. The stock had previously closed at $124.63.

Wall Street Analysts Forecast Growth

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

CorVel Price Performance

The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 74.01 and a beta of 1.16. The firm’s 50-day simple moving average is $123.87 and its 200 day simple moving average is $112.35.

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

Insider Transactions at CorVel

In related news, EVP Mark E. Bertels sold 1,050 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $119.12, for a total value of $125,072.50. Following the sale, the executive vice president now owns 2,580 shares of the company’s stock, valued at $307,321. The trade was a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 47.57% of the company’s stock.

Institutional Trading of CorVel

Institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in shares of CorVel by 193.1% in the third quarter. FMR LLC now owns 4,306 shares of the business services provider’s stock worth $1,408,000 after purchasing an additional 2,837 shares during the last quarter. State Street Corp boosted its position in CorVel by 0.8% during 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 during the last quarter. Quest Partners LLC boosted its position in CorVel by 95.1% during the third quarter. Quest Partners LLC now owns 3,596 shares of the business services provider’s stock valued at $1,175,000 after acquiring an additional 1,753 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in CorVel by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock valued at $1,422,000 after acquiring an additional 67 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in CorVel during the third quarter valued at $213,000. Institutional investors own 51.36% of the company’s stock.

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.