Riverbridge Partners LLC lowered its position in Charles River Laboratories International, Inc. (NYSE:CRL – Free Report) by 30.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,529 shares of the medical research company’s stock after selling 17,174 shares during the quarter. Riverbridge Partners LLC’s holdings in Charles River Laboratories International were worth $11,661,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Lido Advisors LLC purchased a new position in shares of Charles River Laboratories International during the third quarter worth approximately $1,205,000. New York Life Investment Management LLC increased its holdings in shares of Charles River Laboratories International by 371.3% in the 3rd quarter. New York Life Investment Management LLC now owns 61,506 shares of the medical research company’s stock valued at $18,145,000 after acquiring an additional 48,455 shares during the period. AlphaCore Capital LLC raised its position in Charles River Laboratories International by 222.4% in the 3rd quarter. AlphaCore Capital LLC now owns 5,184 shares of the medical research company’s stock valued at $1,529,000 after purchasing an additional 3,576 shares during the last quarter. Retirement Systems of Alabama raised its position in Charles River Laboratories International by 1,246.1% in the 3rd quarter. Retirement Systems of Alabama now owns 136,211 shares of the medical research company’s stock valued at $40,184,000 after purchasing an additional 126,092 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new stake in Charles River Laboratories International in the 3rd quarter valued at $85,000. 98.91% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CRL has been the subject of a number of recent research reports. Evercore set a $330.00 price target on shares of Charles River Laboratories International in a research note on Friday, September 25th. Morgan Stanley lifted their price objective on shares of Charles River Laboratories International from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Royal Bank Of Canada upped their target price on shares of Charles River Laboratories International from $322.00 to $352.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Wall Street Zen upgraded shares of Charles River Laboratories International from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, CLSA lowered Charles River Laboratories International from an “outperform” rating to a “hold” rating and set a $219.00 price target on the stock. in a report on Monday, July 20th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.17.
Read Our Latest Research Report on CRL
Charles River Laboratories International Stock Down 2.0%
Shares of NYSE:CRL opened at $346.29 on Wednesday. The company has a market cap of $16.59 billion, a price-to-earnings ratio of 380.54, a PEG ratio of 3.19 and a beta of 1.36. The firm’s 50-day simple moving average is $308.11 and its 200-day simple moving average is $226.44. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.76. Charles River Laboratories International, Inc. has a fifty-two week low of $146.20 and a fifty-two week high of $379.63.
Charles River Laboratories International (NYSE:CRL – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The medical research company reported $3.09 earnings per share (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 net margin of 1.01% and a return on equity of 16.95%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.43 earnings per share. As a group, equities research analysts predict that Charles River Laboratories International, Inc. will post 11.45 earnings per share for the current year.
Insider Buying and Selling at Charles River Laboratories International
In other news, Director Nancy C. Andrews sold 573 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $285.24, for a total transaction of $163,442.52. Following the completion of the transaction, the director directly owned 1,438 shares of the company’s stock, valued at approximately $410,175.12. This represents a 28.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Foster sold 24,042 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $350.00, for a total value 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 represents a 43.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 63,352 shares of company stock valued at $20,291,281. 1.30% of the stock is owned by corporate insiders.
Charles River Laboratories International 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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