Retirement Systems of Alabama boosted its stake in Charles River Laboratories International, Inc. (NYSE:CRL – Free Report) by 1,246.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,211 shares of the medical research company’s stock after buying an additional 126,092 shares during the period. Retirement Systems of Alabama owned 0.29% of Charles River Laboratories International worth $40,184,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CRL. Handelsbanken Fonder AB boosted its holdings in shares of 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 valued at $4,378,000 after acquiring an additional 5,200 shares in the last quarter. Avidity Partners Management LP acquired a new position in shares of Charles River Laboratories International during the first quarter valued at approximately $1,670,000. Quantitative Investment Management LLC bought a new stake in Charles River Laboratories International during the second quarter worth approximately $1,360,000. Madison Asset Management LLC bought a new stake in Charles River Laboratories International during the second quarter worth approximately $3,805,000. Finally, TD Waterhouse Canada Inc. raised its holdings in Charles River Laboratories International by 81,468.9% during the third quarter. TD Waterhouse Canada Inc. now owns 36,706 shares of the medical research company’s stock worth $10,829,000 after purchasing an additional 36,661 shares in the last quarter. Institutional investors own 98.91% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CRL shares. Barclays upped their target price on Charles River Laboratories International from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Morgan Stanley lifted their price target on Charles River Laboratories International from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Charles River Laboratories International in a research note on Monday, September 28th. Jefferies Financial Group boosted their price objective on Charles River Laboratories International from $305.00 to $340.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Finally, Argus set a $330.00 price objective on Charles River Laboratories International in a report on Thursday, September 17th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $308.17.
Read Our Latest Research Report on CRL
Insider Activity
In other news, Director James C. Foster sold 24,042 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $350.00, for a total transaction of $8,414,700.00. Following the completion of the sale, the director directly owned 31,596 shares of the company’s stock, valued at $11,058,600. This trade represents a 43.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 Charles River Laboratories International stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $285.24, for a total value of $163,442.52. Following the completion of the transaction, the director owned 1,438 shares in the company, valued at $410,175.12. The trade was a 28.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 63,352 shares of company stock worth $20,291,281. Insiders own 1.30% of the company’s stock.
Charles River Laboratories International Stock Down 2.0%
NYSE CRL opened at $346.29 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.41 and a quick ratio of 1.12. The company’s 50 day simple moving average is $308.11 and its 200 day simple moving average is $226.44. Charles River Laboratories International, Inc. has a 12 month low of $146.20 and a 12 month high of $379.63. The company has a market capitalization of $16.59 billion, a P/E ratio of 380.54, a PEG ratio of 3.19 and a beta of 1.36.
Charles River Laboratories International (NYSE:CRL – Get Free Report) last issued its earnings results on Wednesday, November 4th. The medical research company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.12. The firm had revenue of $982.73 million during the quarter, compared to analysts’ expectations of $960.36 million. Charles River Laboratories International had a net margin of 1.01% and a return on equity of 16.95%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $2.43 earnings per share. Equities research analysts expect that Charles River Laboratories International, Inc. will post 11.45 earnings per share for the current fiscal year.
Charles River Laboratories International Company Profile
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. These may include laboratory animal models, laboratory testing, bioanalysis, and support for the production of products used in the development of pharmaceuticals and biologics.
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