Charles River Laboratories International, Inc. (NYSE:CRL) Stake Cut by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 16.7% in the 4th quarter, Holdings Channel reports. The fund owned 5,627 shares of the medical research company’s stock after selling 1,127 shares during the period. Cresset Asset Management LLC’s holdings in Charles River Laboratories International were worth $1,039,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Centiva Capital LP lifted its stake in Charles River Laboratories International by 58.4% in the 4th quarter. Centiva Capital LP now owns 11,511 shares of the medical research company’s stock worth $2,125,000 after acquiring an additional 4,246 shares in the last quarter. Brevan Howard Capital Management LP lifted its stake in Charles River Laboratories International by 90.0% in the 4th quarter. Brevan Howard Capital Management LP now owns 8,008 shares of the medical research company’s stock worth $1,478,000 after acquiring an additional 3,794 shares in the last quarter. Bridgefront Capital LLC lifted its stake in Charles River Laboratories International by 52.6% in the 4th quarter. Bridgefront Capital LLC now owns 5,845 shares of the medical research company’s stock worth $1,079,000 after acquiring an additional 2,014 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Charles River Laboratories International in the 4th quarter worth about $1,052,000. Finally, Bayesian Capital Management LP purchased a new stake in Charles River Laboratories International in the 4th quarter worth about $3,316,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Down 1.8%

Shares of CRL stock opened at $138.84 on Monday. The stock’s 50 day simple moving average is $138.40 and its 200 day simple moving average is $166.20. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.14 and a current ratio of 1.41. Charles River Laboratories International, Inc. has a twelve month low of $91.86 and a twelve month high of $254.15. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 925.60, a PEG ratio of 4.54 and a beta of 1.50.

Charles River Laboratories International (NYSE:CRL) last issued its quarterly earnings data on Wednesday, May 7th. The medical research company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.28. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The business had revenue of $984.17 million for the quarter, compared to the consensus estimate of $942.34 million. During the same period last year, the business earned $2.27 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts predict that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Mizuho reduced their price objective 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, April 9th. UBS Group reaffirmed a “neutral” rating and set a $185.00 price target (down from $250.00) on shares of Charles River Laboratories International in a research note on Friday, January 17th. JPMorgan Chase & Co. cut their price target on Charles River Laboratories International from $175.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Morgan Stanley cut their price target on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, Evercore ISI raised Charles River Laboratories International from an “in-line” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Thursday. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $176.00.

Insiders Place Their Bets

In other Charles River Laboratories International news, COO Birgit Girshick purchased 1,514 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $164.63 per share, with a total value of $249,249.82. Following the transaction, the chief operating officer now directly owns 55,058 shares in the company, valued at approximately $9,064,198.54. This represents a 2.83% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph W. Laplume sold 4,400 shares of Charles River Laboratories International stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total value of $715,000.00. Following the completion of the transaction, the executive vice president now directly owns 20,013 shares in the company, valued at approximately $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. Company insiders own 1.30% of the company’s stock.

Charles River Laboratories International 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).