Korea Investment CORP Reduces Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Korea Investment CORP decreased its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 61.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,304 shares of the medical research company's stock after selling 42,200 shares during the period. Korea Investment CORP owned about 0.05% of Charles River Laboratories International worth $4,856,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fiduciary Financial Group LLC raised its position in Charles River Laboratories International by 3.9% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,665 shares of the medical research company's stock worth $310,000 after acquiring an additional 63 shares during the period. Pinnacle Bancorp Inc. raised its position in shares of Charles River Laboratories International by 52.0% during the 4th quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company's stock worth $35,000 after purchasing an additional 65 shares during the last quarter. M&T Bank Corp boosted its holdings in Charles River Laboratories International by 3.4% in the 3rd quarter. M&T Bank Corp now owns 2,001 shares of the medical research company's stock worth $394,000 after buying an additional 66 shares during the last quarter. Cornerstone Investment Partners LLC increased its position in shares of Charles River Laboratories International by 3.7% during the fourth quarter. Cornerstone Investment Partners LLC now owns 1,940 shares of the medical research company's stock worth $358,000 after purchasing an additional 69 shares in the last quarter. Finally, Metis Global Partners LLC raised its stake in Charles River Laboratories International by 4.4% in the 4th quarter. Metis Global Partners LLC now owns 1,720 shares of the medical research company's stock valued at $318,000 after purchasing an additional 72 shares during the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Charles River Laboratories International

In other news, CEO James C. Foster acquired 6,075 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $165.01 per share, with a total value of $1,002,435.75. Following the purchase, the chief executive officer now directly owns 183,639 shares of the company's stock, valued at approximately $30,302,271.39. This trade represents a 3.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Birgit Girshick bought 1,514 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were purchased 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 owns 55,058 shares of the company's stock, valued at $9,064,198.54. This represents a 2.83 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Performance

Shares of CRL traded down $4.03 during mid-day trading on Friday, hitting $136.95. 1,666,195 shares of the company's stock were exchanged, compared to its average volume of 771,482. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65. Charles River Laboratories International, Inc. has a fifty-two week low of $132.99 and a fifty-two week high of $258.56. The business's 50 day moving average is $162.49 and its two-hundred day moving average is $180.77. The firm has a market capitalization of $7.00 billion, a P/E ratio of 912.99, a P/E/G ratio of 4.54 and a beta of 1.45.

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 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.16. The business had revenue of $1 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 earnings per share. On average, equities analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRL. The Goldman Sachs Group lowered shares of Charles River Laboratories International from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $190.00 to $170.00 in a report on Friday, March 21st. JPMorgan Chase & Co. dropped their price objective on shares of Charles River Laboratories International from $175.00 to $165.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Robert W. Baird decreased their target price on shares of Charles River Laboratories International from $177.00 to $173.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Citigroup upgraded Charles River Laboratories International from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $155.00 to $175.00 in a research report on Tuesday, March 4th. Finally, Morgan Stanley lowered their price objective on Charles River Laboratories International from $220.00 to $184.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average 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).