Rhenman & Partners Asset Management AB lowered its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 60.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,850 shares of the medical research company's stock after selling 22,650 shares during the period. Rhenman & Partners Asset Management AB's holdings in Charles River Laboratories International were worth $2,741,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Charles River Laboratories International by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,158,926 shares of the medical research company's stock valued at $1,136,938,000 after acquiring an additional 60,497 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Charles River Laboratories International by 9.0% during the fourth quarter. Wellington Management Group LLP now owns 4,076,426 shares of the medical research company's stock worth $752,508,000 after purchasing an additional 335,658 shares during the period. State Street Corp increased its position in shares of Charles River Laboratories International by 2.0% in the third quarter. State Street Corp now owns 2,130,279 shares of the medical research company's stock worth $419,601,000 after purchasing an additional 41,421 shares during the period. Allspring Global Investments Holdings LLC lifted 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 worth $330,231,000 after acquiring an additional 47,221 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Charles River Laboratories International by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,233,211 shares of the medical research company's stock valued at $227,042,000 after purchasing an additional 14,787 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on CRL. The Goldman Sachs Group cut Charles River Laboratories International from a "buy" rating to a "neutral" rating and dropped their price target for the company from $190.00 to $170.00 in a research note on Friday, March 21st. Mizuho decreased their target price on Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating for the company in a research note on Wednesday. William Blair downgraded Charles River Laboratories International from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 22nd. Citigroup upgraded shares of Charles River Laboratories International from a "sell" rating to a "neutral" rating and upped their target price for the stock from $155.00 to $175.00 in a report on Tuesday, March 4th. Finally, Bank of America cut their price objective on shares of Charles River Laboratories International from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $182.00.
Check Out Our Latest Stock Analysis on CRL
Insiders Place Their Bets
In related news, COO Birgit Girshick bought 1,514 shares of the stock in a transaction dated Thursday, February 20th. The stock was bought at an average price of $164.63 per share, with a total value of $249,249.82. Following the purchase, the chief operating officer now owns 55,058 shares in the company, valued at approximately $9,064,198.54. The trade was a 2.83 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph W. Laplume sold 4,400 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $162.50, for a total value of $715,000.00. Following the sale, the executive vice president now owns 20,013 shares of the company's stock, valued at $3,252,112.50. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.
Charles River Laboratories International Stock Performance
Shares of NYSE CRL traded down $12.81 during mid-day trading on Thursday, hitting $126.26. The company had a trading volume of 1,023,686 shares, compared to its average volume of 788,581. The stock's 50-day moving average price is $159.23 and its 200-day moving average price is $178.36. Charles River Laboratories International, Inc. has a 1 year low of $117.26 and a 1 year high of $254.15. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 840.65, a P/E/G 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.
Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.16. The business had revenue of $1 billion for 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 for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 EPS. On average, sell-side 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
(
Free Report)
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).
Further Reading
Before you consider Charles River Laboratories International, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Charles River Laboratories International wasn't on the list.
While Charles River Laboratories International currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
