Bessemer Group Inc. Cuts Stock Position in Charles River Laboratories International, Inc. $CRL

Bessemer Group Inc. lessened its holdings in Charles River Laboratories International, Inc. (NYSE:CRL) by 34.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,578 shares of the medical research company’s stock after selling 2,357 shares during the period. Bessemer Group Inc.’s holdings in Charles River Laboratories International were worth $694,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group raised its stake in shares of Charles River Laboratories International by 93.5% in the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 86 shares during the period. Cromwell Holdings LLC raised its stake in shares of Charles River Laboratories International by 542.9% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 152 shares during the period. HM Payson & Co. purchased a new position in shares of Charles River Laboratories International in the 1st quarter valued at $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in Charles River Laboratories International during the 2nd quarter valued at $56,000. Finally, Bayforest Capital Ltd acquired a new stake in Charles River Laboratories International during the 2nd quarter valued at $63,000. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Insider Activity

In other news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the completion of the transaction, the executive vice president owned 24,116 shares in the company, valued at approximately $3,800,681.60. This represents a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CRL. Barclays raised shares of Charles River Laboratories International from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $165.00 to $195.00 in a report on Thursday, October 2nd. Wall Street Zen lowered shares of Charles River Laboratories International from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 23rd. Mizuho raised their price target on shares of Charles River Laboratories International from $155.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Charles River Laboratories International in a report on Wednesday, October 8th. Finally, Evercore ISI raised their price target on shares of Charles River Laboratories International from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Charles River Laboratories International has an average rating of “Hold” and an average price target of $181.29.

Charles River Laboratories International Price Performance

NYSE:CRL opened at $180.17 on Friday. The stock has a market cap of $8.87 billion, a P/E ratio of -135.46, a PEG ratio of 4.83 and a beta of 1.50. Charles River Laboratories International, Inc. has a one year low of $91.86 and a one year high of $230.02. The company has a fifty day moving average price of $167.05 and a 200 day moving average price of $152.98. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.10.

Charles River Laboratories International (NYSE:CRL) last released its earnings results on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, beating the consensus estimate of $2.50 by $0.62. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $983.76 million. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.80 EPS. Analysts anticipate 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).