Short Interest in Charles River Laboratories International, Inc. (NYSE:CRL) Increases By 26.3%

Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,930,000 shares, an increase of 26.3% from the February 13th total of 2,320,000 shares. Based on an average trading volume of 1,000,000 shares, the short-interest ratio is currently 2.9 days. Approximately 5.8% of the company's stock are sold short.

Insider Buying and Selling

In other news, COO Birgit Girshick bought 1,514 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of $164.63 per share, with a total value of $249,249.82. Following the transaction, the chief operating officer now owns 55,058 shares in the company, valued at $9,064,198.54. This represents a 2.83 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph W. Laplume sold 4,400 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $162.50, for a total value of $715,000.00. Following the completion of the sale, the executive vice president now owns 20,013 shares in the company, valued at $3,252,112.50. The trade was a 18.02 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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Institutional Investors Weigh In On Charles River Laboratories International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Charles River Laboratories International by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 60,501 shares of the medical research company's stock worth $11,917,000 after acquiring an additional 2,126 shares during the period. Assetmark Inc. increased its position in shares of Charles River Laboratories International by 1,153.3% in the third quarter. Assetmark Inc. now owns 188 shares of the medical research company's stock worth $37,000 after purchasing an additional 173 shares during the period. Apollon Wealth Management LLC acquired a new position in Charles River Laboratories International in the third quarter valued at about $201,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Charles River Laboratories International by 3.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,995 shares of the medical research company's stock worth $22,060,000 after purchasing an additional 3,714 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Charles River Laboratories International by 8.6% during the third quarter. CIBC Asset Management Inc now owns 7,531 shares of the medical research company's stock worth $1,483,000 after buying an additional 595 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Charles River Laboratories International Stock Performance

Shares of NYSE CRL traded up $1.94 during trading hours on Friday, reaching $167.29. 1,638,932 shares of the stock were exchanged, compared to its average volume of 723,009. The stock's fifty day simple moving average is $166.49 and its 200 day simple moving average is $183.98. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 1,115.26, a P/E/G ratio of 4.54 and a beta of 1.45. Charles River Laboratories International has a 52 week low of $150.79 and a 52 week high of $274.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.14 and a current ratio of 1.41.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.16. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.63 million. During the same quarter last year, the firm earned $2.46 earnings per share. The company's revenue was down 1.1% on a year-over-year basis. Sell-side analysts predict that Charles River Laboratories International will post 9.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird cut their price target on shares of Charles River Laboratories International from $177.00 to $173.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Bank of America decreased their price target on Charles River Laboratories International from $220.00 to $210.00 and set a "neutral" rating for the company in a research note on Friday, December 13th. UBS Group reiterated a "neutral" rating and set a $185.00 price objective (down previously from $250.00) on shares of Charles River Laboratories International in a research note on Friday, January 17th. Redburn Atlantic raised shares of Charles River Laboratories International from a "sell" rating to a "neutral" rating and set a $188.00 target price for the company in a research note on Monday, March 3rd. Finally, Barclays cut their price target on shares of Charles River Laboratories International from $205.00 to $166.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat.com, Charles River Laboratories International presently has a consensus rating of "Hold" and an average target price of $189.77.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).