Advisory Services Network LLC Reduces Stock Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Advisory Services Network LLC cut its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,773 shares of the medical research company’s stock after selling 354 shares during the period. Advisory Services Network LLC’s holdings in Charles River Laboratories International were worth $512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC bought a new position in Charles River Laboratories International in the third quarter valued at about $601,000. JPMorgan Chase & Co. boosted its holdings in shares of Charles River Laboratories International by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 482,745 shares of the medical research company’s stock worth $95,086,000 after buying an additional 85,759 shares during the last quarter. Veracity Capital LLC purchased a new position in shares of Charles River Laboratories International in the fourth quarter worth approximately $589,000. Lord Abbett & CO. LLC grew its position in Charles River Laboratories International by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 108,715 shares of the medical research company’s stock valued at $21,413,000 after buying an additional 5,959 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Charles River Laboratories International by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,808,002 shares of the medical research company’s stock worth $330,231,000 after acquiring an additional 47,221 shares during the period. 98.91% of the stock is owned by institutional investors.

Charles River Laboratories International Price Performance

CRL stock opened at $106.02 on Wednesday. Charles River Laboratories International, Inc. has a 52 week low of $91.86 and a 52 week high of $254.15. The firm has a market capitalization of $5.21 billion, a P/E ratio of 706.79, a price-to-earnings-growth ratio of 4.54 and a beta of 1.45. The company has a fifty day simple moving average of $154.31 and a two-hundred day simple moving average of $175.73. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.16. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $983.63 million. During the same quarter in the previous year, the company posted $2.46 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley reduced their price objective 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. JPMorgan Chase & Co. lowered their price objective on Charles River Laboratories International from $175.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. William Blair lowered shares of Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group downgraded shares of Charles River Laboratories International from a “buy” rating to a “neutral” rating and lowered their price target for the company from $190.00 to $170.00 in a report on Friday, March 21st. Finally, Mizuho lowered their target price on shares of Charles River Laboratories International from $175.00 to $155.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, Charles River Laboratories International currently has an average rating of “Hold” and an average price target of $182.00.

Insider Buying and Selling at Charles River Laboratories International

In related news, COO Birgit Girshick purchased 1,514 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $164.63 per share, with a total value of $249,249.82. Following the completion of the purchase, the chief operating officer now owns 55,058 shares of the company’s stock, valued at approximately $9,064,198.54. The trade was a 2.83 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph W. Laplume sold 4,400 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $162.50, for a total transaction of $715,000.00. Following the completion of the sale, the executive vice president now directly owns 20,013 shares of the company’s stock, valued at approximately $3,252,112.50. This trade 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 Company 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).