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

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

Other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. raised its stake in Charles River Laboratories International by 52.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock valued at $35,000 after buying an additional 65 shares in the last quarter. Optiver Holding B.V. acquired a new stake in Charles River Laboratories International in the fourth quarter worth $37,000. GeoWealth Management LLC increased its position in Charles River Laboratories International by 311.5% in the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company’s stock worth $46,000 after buying an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Charles River Laboratories International in the fourth quarter worth $48,000. Finally, Tortoise Investment Management LLC increased its position in Charles River Laboratories International by 77.7% in the fourth quarter. Tortoise Investment Management LLC now owns 263 shares of the medical research company’s stock worth $49,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 98.91% of the company’s stock.

Charles River Laboratories International Trading Down 1.8%

Shares of CRL stock opened at $138.84 on Monday. The stock has a 50-day simple moving average of $138.40 and a 200 day simple moving average of $166.20. Charles River Laboratories International, Inc. has a fifty-two week low of $91.86 and a fifty-two week high of $254.15. The stock has a market capitalization of $6.82 billion, a P/E ratio of 925.60, a P/E/G ratio of 4.54 and a beta of 1.50. 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 announced its earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $942.34 million. During the same quarter last year, the business posted $2.27 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Insider Activity at Charles River Laboratories International

In related news, CEO James C. Foster purchased 6,075 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of $165.01 per share, for a total transaction of $1,002,435.75. Following the transaction, the chief executive officer now directly owns 183,639 shares of the company’s stock, valued at $30,302,271.39. This trade represents a 3.42% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joseph W. Laplume sold 4,400 shares of the stock in a transaction on Thursday, February 20th. The shares were 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 owns 20,013 shares of the company’s stock, valued at $3,252,112.50. This trade represents a 18.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

CRL has been the topic of several analyst reports. Citigroup raised Charles River Laboratories International from a “sell” rating to a “neutral” rating and increased their target price for the stock from $155.00 to $175.00 in a research report on Tuesday, March 4th. Morgan Stanley dropped their target price on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. UBS Group reaffirmed a “neutral” rating and issued a $185.00 target price (down from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. Robert W. Baird raised their price target on Charles River Laboratories International from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Mizuho lowered their price target on Charles River Laboratories International from $175.00 to $155.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Charles River Laboratories International currently has a consensus rating of “Hold” and an average target price of $176.00.

About Charles River Laboratories International

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).