CNB Bank Reduces Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

CNB Bank lowered its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 26.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,813 shares of the medical research company’s stock after selling 649 shares during the quarter. CNB Bank’s holdings in Charles River Laboratories International were worth $273,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CRL. Rothschild Investment LLC boosted its stake in shares of Charles River Laboratories International by 480.0% during the first quarter. Rothschild Investment LLC now owns 174 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 144 shares during the last quarter. Optiver Holding B.V. purchased a new position in Charles River Laboratories International in the 4th quarter valued at about $37,000. GeoWealth Management LLC boosted its stake in shares of Charles River Laboratories International by 311.5% during the 4th quarter. GeoWealth Management LLC now owns 251 shares of the medical research company’s stock worth $46,000 after purchasing an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Charles River Laboratories International during the 4th quarter worth about $48,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of Charles River Laboratories International by 77.7% during 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 in the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRL. Mizuho decreased 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 report on Wednesday, April 9th. Robert W. Baird increased their price target on Charles River Laboratories International from $118.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Cowen upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Barclays upped their target price on Charles River Laboratories International from $145.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Finally, Citigroup upgraded 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. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $171.85.

Insider Activity at Charles River Laboratories International

In related news, EVP Joseph W. Laplume sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $145.41, for a total transaction of $72,705.00. Following the transaction, the executive vice president now directly owns 19,513 shares of the company’s stock, valued at approximately $2,837,385.33. The trade was a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Charles River Laboratories International Stock Up 1.0%

Shares of NYSE:CRL opened at $151.75 on Friday. The stock has a 50-day simple moving average of $135.24 and a 200-day simple moving average of $154.28. The stock has a market capitalization of $7.45 billion, a P/E ratio of -233.46, a PEG ratio of 4.63 and a beta of 1.48. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $254.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.43.

Charles River Laboratories International (NYSE:CRL) last announced its quarterly earnings results 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 negative net margin of 0.66% and a positive return on equity of 15.19%. The firm had revenue of $984.17 million for the quarter, compared to analysts’ expectations of $942.34 million. During the same period in the previous year, the company posted $2.27 earnings per share. Charles River Laboratories International’s revenue was down 2.7% compared to the same quarter last year. Equities analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

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).