King Luther Capital Management Corp Cuts Position in Charles River Laboratories International, Inc. (NYSE:CRL)

King Luther Capital Management Corp lessened its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 20.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,343 shares of the medical research company's stock after selling 13,346 shares during the quarter. King Luther Capital Management Corp owned 0.10% of Charles River Laboratories International worth $9,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in Charles River Laboratories International by 135,927.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company's stock worth $736,819,000 after buying an additional 3,738,018 shares during the last quarter. State Street Corp boosted its stake in shares of Charles River Laboratories International by 2.0% in 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 purchasing an additional 41,421 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Charles River Laboratories International by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,808,002 shares of the medical research company's stock valued at $330,231,000 after purchasing an additional 47,221 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Charles River Laboratories International by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 552,975 shares of the medical research company's stock valued at $102,079,000 after purchasing an additional 37,753 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Charles River Laboratories International by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 482,745 shares of the medical research company's stock worth $95,086,000 after purchasing an additional 85,759 shares during the last quarter. Institutional investors own 98.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CRL shares. William Blair cut Charles River Laboratories International from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 22nd. Morgan Stanley decreased their price target on 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. Redburn Atlantic upgraded Charles River Laboratories International from a "sell" rating to a "neutral" rating and set a $188.00 price objective for the company in a research report on Monday, March 3rd. Citigroup upgraded shares of Charles River Laboratories International from a "sell" rating to a "neutral" rating and raised their target price for the stock from $155.00 to $175.00 in a report on Tuesday, March 4th. Finally, Robert W. Baird lowered their price target on shares of Charles River Laboratories International from $177.00 to $173.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $198.36.

Remove Ads

Insiders Place Their Bets

In related news, COO Birgit Girshick purchased 1,514 shares of the business's stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $164.63 per share, with a total value of $249,249.82. Following the completion of the acquisition, the chief operating officer now owns 55,058 shares of the company's stock, valued at approximately $9,064,198.54. This trade represents a 2.83 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph W. Laplume sold 4,400 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $162.50, for a total value of $715,000.00. Following the completion of the transaction, the executive vice president now directly owns 20,013 shares in the company, valued at $3,252,112.50. This trade represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Charles River Laboratories International Trading Down 4.9 %

Shares of CRL opened at $166.53 on Wednesday. Charles River Laboratories International, Inc. has a 1-year low of $150.79 and a 1-year high of $274.77. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average price is $168.63 and its 200-day moving average price is $185.18. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 1,110.23, a PEG ratio of 4.54 and a beta of 1.45.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported $2.66 earnings per share (EPS) 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $983.63 million. During the same quarter in the prior year, the company earned $2.46 earnings per share. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

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).

Want to see what other hedge funds are holding CRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles River Laboratories International, Inc. (NYSE:CRL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.