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

Confluence Investment Management LLC trimmed its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 2.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 93,004 shares of the medical research company’s stock after selling 1,955 shares during the period. Confluence Investment Management LLC’s holdings in Charles River Laboratories International were worth $17,169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Charles River Laboratories International by 135,927.9% during the third quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company’s stock valued at $736,819,000 after acquiring an additional 3,738,018 shares in the last quarter. State Street Corp grew its stake in Charles River Laboratories International by 2.0% during the 3rd quarter. State Street Corp now owns 2,130,279 shares of the medical research company’s stock valued at $419,601,000 after purchasing an additional 41,421 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Charles River Laboratories International by 1.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,908,989 shares of the medical research company’s stock worth $394,359,000 after purchasing an additional 31,359 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Charles River Laboratories International by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock valued at $346,821,000 after purchasing an additional 509,163 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Charles River Laboratories International by 12.4% during the 2nd quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after buying an additional 110,725 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Bank of America dropped their target price on shares of Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. CLSA cut shares of Charles River Laboratories International from a “hold” rating to an “underperform” rating and set a $164.00 price target on the stock. in a research report on Monday, November 18th. Robert W. Baird lowered their price objective on Charles River Laboratories International from $191.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Finally, Citigroup cut Charles River Laboratories International from a “neutral” rating to a “sell” rating and cut their price objective for the company from $215.00 to $175.00 in a research note on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $214.00.

Charles River Laboratories International Stock Performance

NYSE CRL traded up $0.33 during trading hours on Thursday, hitting $184.93. The company had a trading volume of 93,619 shares, compared to its average volume of 614,432. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.46 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 5.00 and a beta of 1.38. Charles River Laboratories International, Inc. has a fifty-two week low of $176.48 and a fifty-two week high of $275.00. The business has a fifty day simple moving average of $192.76 and a 200-day simple moving average of $200.59.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.16. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a net margin of 10.44% and a return on equity of 14.29%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.72 EPS. Equities analysts predict that Charles River Laboratories International, Inc. will post 10.18 EPS for the current year.

Insider Activity

In other news, Director Richard F. Wallman sold 6,621 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total value of $1,430,930.52. Following the completion of the transaction, the director now owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate 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).