Van Berkom & Associates Inc. lessened its holdings in Charles River Laboratories International, Inc. (NYSE:CRL – Free Report) by 36.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 285,107 shares of the medical research company’s stock after selling 164,307 shares during the quarter. Charles River Laboratories International comprises approximately 3.0% of Van Berkom & Associates Inc.’s portfolio, making the stock its 7th largest holding. Van Berkom & Associates Inc.’s holdings in Charles River Laboratories International were worth $84,109,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its stake in shares of Charles River Laboratories International by 36.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 19,306 shares of the medical research company’s stock valued at $4,378,000 after purchasing an additional 5,200 shares during the period. Avidity Partners Management LP acquired a new position in shares of Charles River Laboratories International in the 1st quarter worth approximately $1,670,000. Quantitative Investment Management LLC bought a new position in shares of Charles River Laboratories International during the 2nd quarter worth approximately $1,360,000. Madison Asset Management LLC bought a new position in shares of Charles River Laboratories International during the 2nd quarter worth approximately $3,805,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Charles River Laboratories International by 2.9% in the 2nd 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 buying an additional 6,401 shares in the last quarter. Institutional investors own 98.91% of the company’s stock.
Insider Buying and Selling at Charles River Laboratories International
In other news, EVP Shannon M. Parisotto sold 2,156 shares of the stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $344.41, for a total transaction of $742,547.96. Following the sale, the executive vice president owned 4,807 shares in the company, valued at approximately $1,655,578.87. This represents a 30.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy C. Andrews sold 573 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $285.24, for a total value of $163,442.52. Following the completion of the sale, the director owned 1,438 shares of the company’s stock, valued at approximately $410,175.12. This trade represents a 28.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 63,352 shares of company stock worth $20,291,281. 1.30% of the stock is currently owned by insiders.
Charles River Laboratories International Stock Performance
NYSE:CRL opened at $354.45 on Tuesday. The stock has a market capitalization of $16.92 billion, a P/E ratio of 389.51, a price-to-earnings-growth ratio of 3.04 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. Charles River Laboratories International, Inc. has a 1 year low of $146.20 and a 1 year high of $379.63. The firm has a 50 day moving average of $306.96 and a 200-day moving average of $225.82.
Charles River Laboratories International (NYSE:CRL – Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The medical research company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.12. The business had revenue of $982.73 million for the quarter, compared to analyst estimates of $960.36 million. Charles River Laboratories International had a return on equity of 16.95% and a net margin of 1.01%. Charles River Laboratories International’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.43 EPS. As a group, sell-side analysts anticipate that Charles River Laboratories International, Inc. will post 11.44 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have weighed in on CRL. Mizuho upped their price target on Charles River Laboratories International from $264.00 to $295.00 and gave the company a “neutral” rating in a research report on Friday, September 25th. CLSA lowered 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. Evercore set a $330.00 price objective on Charles River Laboratories International in a report on Friday, September 25th. Robert W. Baird boosted their target price on shares of Charles River Laboratories International from $291.00 to $334.00 and gave the company an “outperform” rating in a research note on Friday, September 25th. Finally, Piper Sandler set a $300.00 target price on shares of Charles River Laboratories International in a report on Monday, August 10th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $308.17.
Get Our Latest Stock Report on CRL
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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