NewEdge Wealth LLC Lowers Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

NewEdge Wealth LLC cut its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 21.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,961 shares of the medical research company's stock after selling 4,531 shares during the quarter. NewEdge Wealth LLC's holdings in Charles River Laboratories International were worth $3,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of 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 valued at $736,819,000 after purchasing an additional 3,738,018 shares during the last quarter. Mizuho Securities USA LLC grew its stake in shares of Charles River Laboratories International by 2,336.4% during the third quarter. Mizuho Securities USA LLC now owns 96,871 shares of the medical research company's stock worth $19,081,000 after purchasing an additional 92,895 shares in the last quarter. Premier Fund Managers Ltd increased its holdings in Charles River Laboratories International by 56.3% in the third quarter. Premier Fund Managers Ltd now owns 250,000 shares of the medical research company's stock valued at $49,573,000 after buying an additional 90,000 shares during the last quarter. JPMorgan Chase & Co. raised 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 valued at $95,086,000 after buying an additional 85,759 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in 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 worth $330,231,000 after buying an additional 47,221 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

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Insider Buying and Selling at Charles River Laboratories International

In other news, COO Birgit Girshick bought 1,514 shares of Charles River Laboratories International stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $164.63 per share, for a total transaction of $249,249.82. Following the acquisition, the chief operating officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James C. Foster purchased 6,075 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were purchased at an average cost of $165.01 per share, for a total transaction of $1,002,435.75. Following the completion of the purchase, the chief executive officer now directly owns 183,639 shares in the company, valued at $30,302,271.39. The trade was a 3.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CRL has been the topic of a number of recent analyst reports. UBS Group reiterated a "neutral" rating and issued a $185.00 price objective (down previously from $250.00) on shares of Charles River Laboratories International in a report on Friday, January 17th. Evercore ISI raised their price objective on shares of Charles River Laboratories International from $190.00 to $225.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. William Blair cut shares of Charles River Laboratories International from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target on shares of Charles River Laboratories International from $175.00 to $165.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Finally, CLSA lowered Charles River Laboratories International from a "hold" rating to an "underperform" rating and set a $164.00 price objective on the stock. in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $198.36.

Charles River Laboratories International Price Performance

Shares of NYSE:CRL traded up $2.15 during midday trading on Tuesday, hitting $165.65. 628,773 shares of the stock were exchanged, compared to its average volume of 690,085. The stock has a market cap of $8.47 billion, a P/E ratio of 1,105.67, a PEG ratio of 4.54 and a beta of 1.37. Charles River Laboratories International, Inc. has a twelve month low of $150.79 and a twelve month high of $275.00. The company has a 50 day moving average price of $170.50 and a 200-day moving average price of $186.58. 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 (NYSE:CRL - Get Free Report) last announced its earnings results 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 net margin of 0.52% and a return on equity of 14.69%. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $983.63 million. During the same quarter in the previous year, the business posted $2.46 earnings per share. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share 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).