CorVel (CRVL) Upgraded to “Strong-Buy” at BidaskClub

CorVel (NASDAQ:CRVL) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Shares of NASDAQ:CRVL opened at $58.55 on Friday. CorVel has a 12 month low of $46.45 and a 12 month high of $61.20. The firm has a market cap of $1.06 billion, a P/E ratio of 27.76 and a beta of 0.66.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, July 31st. The business services provider reported $0.62 EPS for the quarter. CorVel had a net margin of 6.78% and a return on equity of 23.42%. The firm had revenue of $150.40 million for the quarter.

In related news, major shareholder Corstar Holdings Inc sold 2,009 shares of CorVel stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $52.09, for a total transaction of $104,648.81. Following the sale, the insider now directly owns 7,174,124 shares in the company, valued at approximately $373,700,119.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman V Gordon Clemons sold 5,000 shares of CorVel stock in a transaction on Monday, June 11th. The stock was sold at an average price of $50.51, for a total transaction of $252,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 121,765 shares of company stock worth $6,456,281 over the last quarter. 51.40% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its position in CorVel by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 21,784 shares of the business services provider’s stock worth $1,173,000 after purchasing an additional 979 shares during the last quarter. SG Americas Securities LLC grew its position in CorVel by 66.0% during the 2nd quarter. SG Americas Securities LLC now owns 3,446 shares of the business services provider’s stock worth $186,000 after purchasing an additional 1,370 shares during the last quarter. Raymond James & Associates grew its position in CorVel by 17.4% during the 2nd quarter. Raymond James & Associates now owns 13,495 shares of the business services provider’s stock worth $729,000 after purchasing an additional 2,002 shares during the last quarter. Dimensional Fund Advisors LP grew its position in CorVel by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 791,983 shares of the business services provider’s stock worth $40,035,000 after purchasing an additional 2,156 shares during the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new position in CorVel during the 2nd quarter worth $121,000. Hedge funds and other institutional investors own 43.87% of the company’s stock.

CorVel Company Profile

CorVel Corporation provides medical cost containment and managed care services to address the medical costs of workers' compensation benefits, automobile insurance claims, and group health insurance benefits. The company offers network solutions, including automated medical fee auditing, preferred provider management and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review.

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