Stryker shares tumble despite strong Q2 results and raised guidance
Michael Jeffrey J., a director and significant shareholder of CorVel Corp (NASDAQ:CRVL), a $5.5 billion market cap company that has delivered a 34% return over the past year, has sold a substantial portion of his holdings in the company. According to a recent SEC filing, Jeffrey sold a total of 10,477 shares of CorVel’s common stock on February 20, 2025. The shares were sold at prices ranging from $116.28 to $118.48, amounting to a total transaction value of approximately $1.22 million.
Following these transactions, Jeffrey’s ownership in CorVel stands at 568,310 shares. The sales were executed in three separate transactions, with the largest block consisting of 9,000 shares sold at an average price of $116.28 per share. The other transactions involved smaller quantities of 391 and 1,086 shares, sold at average prices of $118.48 and $117.15, respectively.
These transactions were reported on March 11, 2025, and reflect Jeffrey’s ongoing management of his investment in CorVel Corp, a company known for its insurance-related services.
In other recent news, CorVel Corporation reported impressive financial results for the fourth quarter of 2024, with earnings per share (EPS) rising 39% to $0.46, surpassing market expectations. The company’s revenue also increased by 13% year-over-year, reaching $228 million, which exceeded analysts’ forecasts. These strong financial outcomes have been attributed to CorVel’s strategic focus on technological innovation, particularly in AI and automation within healthcare services. Additionally, CorVel completed a 3-for-1 stock split in December 2024, enhancing share accessibility for a broader range of investors. The company also repurchased 85,710 shares for $9.6 million during the quarter, demonstrating its robust cash position with a balance of $163 million. Analysts from various firms have taken note of CorVel’s performance, with some expressing optimism about the company’s strategic initiatives and financial health. CorVel continues to project growth, with EPS forecasts for FY2025 and FY2026 set at $1.76 and $1.82, respectively, and revenue projections of $854.96 million and $884.88 million for the same periods.
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