Pekin Hardy Strauss Inc. decreased its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL – Free Report) by 69.6% during the third quarter, Holdings Channel.com reports. The firm owned 1,826 shares of the medical research company’s stock after selling 4,186 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Charles River Laboratories International were worth $539,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the business. Handelsbanken Fonder AB lifted its position in Charles River Laboratories International by 36.9% in the second quarter. Handelsbanken Fonder AB now owns 19,306 shares of the medical research company’s stock worth $4,378,000 after buying an additional 5,200 shares during the last quarter. Avidity Partners Management LP bought a new position in Charles River Laboratories International during the first quarter valued at $1,670,000. Quantitative Investment Management LLC purchased a new stake in shares of Charles River Laboratories International in the second quarter valued at $1,360,000. Madison Asset Management LLC purchased a new stake in shares of Charles River Laboratories International in the second quarter valued at $3,805,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Charles River Laboratories International by 2.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 225,314 shares of the medical research company’s stock valued at $51,099,000 after acquiring an additional 6,401 shares during the period. Institutional investors own 98.91% of the company’s stock.
Charles River Laboratories International Stock Performance
Shares of Charles River Laboratories International stock opened at $337.91 on Friday. The stock’s fifty day moving average is $305.71 and its two-hundred day moving average is $225.19. The company has a market capitalization of $16.19 billion, a PE ratio of 371.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.36. The company has a quick ratio of 1.04, a current ratio of 1.41 and a debt-to-equity ratio of 0.76. Charles River Laboratories International, Inc. has a 52 week low of $146.20 and a 52 week high of $379.63.
Charles River Laboratories International (NYSE:CRL – Get Free Report) last released its earnings results on Wednesday, November 4th. The medical research company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.12. Charles River Laboratories International had a return on equity of 16.95% and a net margin of 1.01%. The business had revenue of $982.73 million during the quarter, compared to the consensus estimate of $960.36 million. During the same period last year, the company earned $2.43 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts expect that Charles River Laboratories International, Inc. will post 11.44 earnings per share for the current year.
Insider Activity at Charles River Laboratories International
In related news, CEO Birgit Girshick sold 6,500 shares of Charles River Laboratories International stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $279.90, for a total transaction of $1,819,350.00. Following the completion of the sale, the chief executive officer owned 36,013 shares in the company, valued at $10,080,038.70. This trade represents a 15.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Shannon M. Parisotto sold 3,714 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $279.66, for a total transaction of $1,038,657.24. Following the completion of the sale, the executive vice president directly owned 4,807 shares of the company’s stock, valued at approximately $1,344,325.62. This trade represents a 43.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 102,299 shares of company stock valued at $31,050,863. Company insiders own 1.30% of the company’s stock.
Analyst Upgrades and Downgrades
CRL has been the subject of several analyst reports. UBS Group raised their target price on shares of Charles River Laboratories International from $357.00 to $387.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Charles River Laboratories International in a report on Monday, September 28th. Argus set a $330.00 price objective on shares of Charles River Laboratories International in a research report on Thursday, September 17th. Wall Street Zen raised shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, CLSA downgraded shares of Charles River Laboratories International from an “outperform” rating to a “hold” rating and set a $219.00 price objective for the company. in a research note on Monday, July 20th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.17.
Check Out Our Latest Stock Analysis on Charles River Laboratories International
About Charles River Laboratories International
Charles River Laboratories International is a contract research organization that supports pharmaceutical and biotechnology companies, as well as academic and government researchers, in developing medicines and advancing scientific research. Its services span the drug development process, from early discovery and preclinical research to manufacturing support.
The company’s offerings include research models and related services, drug discovery and safety assessment, and manufacturing solutions.
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