Cinctive Capital Management LP Purchases New Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Cinctive Capital Management LP acquired a new stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,252 shares of the medical research company's stock, valued at approximately $2,262,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRL. Virtu Financial LLC bought a new stake in Charles River Laboratories International during the third quarter valued at about $601,000. JPMorgan Chase & Co. grew its stake in shares of Charles River Laboratories International by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 482,745 shares of the medical research company's stock valued at $95,086,000 after acquiring an additional 85,759 shares during the period. State Street Corp grew its stake in shares of Charles River Laboratories International by 2.0% during the 3rd quarter. State Street Corp now owns 2,130,279 shares of the medical research company's stock valued at $419,601,000 after acquiring an additional 41,421 shares during the period. Janus Henderson Group PLC increased its holdings in Charles River Laboratories International by 7.6% in the 3rd quarter. Janus Henderson Group PLC now owns 46,018 shares of the medical research company's stock worth $9,064,000 after acquiring an additional 3,268 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Charles River Laboratories International during the 3rd quarter worth approximately $966,000. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Charles River Laboratories International Price Performance

Shares of CRL stock traded down $0.79 on Tuesday, reaching $133.29. The company's stock had a trading volume of 432,788 shares, compared to its average volume of 775,139. The stock's fifty day simple moving average is $161.85 and its 200-day simple moving average is $180.06. Charles River Laboratories International, Inc. has a 1 year low of $128.03 and a 1 year high of $258.56. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 890.93, a price-to-earnings-growth ratio of 4.54 and a beta of 1.45. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65.

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

Insiders Place Their Bets

In related news, COO Birgit Girshick bought 1,514 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were purchased 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 trade represents a 2.83 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James C. Foster purchased 6,075 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $165.01 per share, for a total transaction of $1,002,435.75. Following the acquisition, the chief executive officer now directly owns 183,639 shares in the company, valued at $30,302,271.39. This trade represents a 3.42 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRL shares. UBS Group reissued a "neutral" rating and issued a $185.00 price objective (down from $250.00) on shares of Charles River Laboratories International in a research note on Friday, January 17th. Barclays cut their price target on 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. Redburn Atlantic upgraded Charles River Laboratories International from a "sell" rating to a "neutral" rating and set a $188.00 price objective on the stock in a research report on Monday, March 3rd. Citigroup upgraded Charles River Laboratories International from a "sell" rating to a "neutral" rating and increased their target price for the stock from $155.00 to $175.00 in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group cut Charles River Laboratories International from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $190.00 to $170.00 in a report on Friday, March 21st. 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 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).