Charles River Laboratories International (NYSE:CRL) Sees Strong Trading Volume - Time to Buy?

Shares of Charles River Laboratories International, Inc. (NYSE:CRL - Get Free Report) saw an uptick in trading volume on Friday . 2,386,364 shares were traded during mid-day trading, an increase of 191% from the previous session's volume of 820,287 shares.The stock last traded at $97.76 and had previously closed at $99.95.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CRL. Morgan Stanley cut their target price on shares of Charles River Laboratories International from $220.00 to $184.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. UBS Group reiterated a "neutral" rating and set a $185.00 target price (down previously from $250.00) on shares of Charles River Laboratories International in a report on Friday, January 17th. The Goldman Sachs Group cut Charles River Laboratories International from a "buy" rating to a "neutral" rating and lowered their target price for the company from $190.00 to $170.00 in a research note on Friday, March 21st. Mizuho dropped their price target on Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays decreased their price objective on Charles River Laboratories International from $160.00 to $145.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $182.00.

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Charles River Laboratories International Trading Down 0.7 %

The stock has a market cap of $5.20 billion, a P/E ratio of 707.94, a P/E/G ratio of 4.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.14. The firm's 50 day moving average price is $155.52 and its 200-day moving average price is $176.21.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its earnings results on Wednesday, February 19th. The medical research company reported $2.66 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.63 million. During the same period last year, the business posted $2.46 EPS. The company's revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Insider Activity

In related news, COO Birgit Girshick acquired 1,514 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $164.63 per share, for a total transaction of $249,249.82. Following the completion of the transaction, the chief operating officer now directly owns 55,058 shares in the company, valued at approximately $9,064,198.54. This trade represents a 2.83 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph W. Laplume sold 4,400 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total transaction 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. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Institutional Trading of Charles River Laboratories International

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Charles River Laboratories International by 61.6% in the first quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock valued at $210,000 after acquiring an additional 533 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Charles River Laboratories International by 12.8% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,706 shares of the medical research company's stock worth $257,000 after buying an additional 194 shares during the last quarter. Impact Capital Partners LLC grew its position in Charles River Laboratories International by 12.2% during the first quarter. Impact Capital Partners LLC now owns 2,567 shares of the medical research company's stock valued at $386,000 after buying an additional 280 shares during the period. Veracity Capital LLC increased its holdings in Charles River Laboratories International by 3.4% during the first quarter. Veracity Capital LLC now owns 3,298 shares of the medical research company's stock valued at $496,000 after buying an additional 107 shares during the last quarter. Finally, Heritage Family Offices LLP raised its position in Charles River Laboratories International by 10.0% in the first quarter. Heritage Family Offices LLP now owns 1,689 shares of the medical research company's stock worth $254,000 after acquiring an additional 153 shares during the period. Institutional investors own 98.91% of the company's stock.

About Charles River Laboratories International

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).