EverSource Wealth Advisors LLC trimmed its holdings in Charles River Laboratories International, Inc. (NYSE:CRL – Get Rating) by 10.6% in the third quarter, Holdings Channel reports. The institutional investor owned 2,847 shares of the medical research company's stock after selling 337 shares during the period. EverSource Wealth Advisors LLC's holdings in Charles River Laboratories International were worth $560,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Charles River Laboratories International by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,935,727 shares of the medical research company's stock valued at $1,685,568,000 after buying an additional 66,602 shares in the last quarter. Clearbridge Investments LLC raised its position in Charles River Laboratories International by 7.3% during the second quarter. Clearbridge Investments LLC now owns 1,468,682 shares of the medical research company's stock valued at $314,254,000 after purchasing an additional 99,739 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Charles River Laboratories International by 399.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,104,292 shares of the medical research company's stock valued at $236,285,000 after purchasing an additional 883,029 shares in the last quarter. Mackenzie Financial Corp raised its position in Charles River Laboratories International by 15.3% during the second quarter. Mackenzie Financial Corp now owns 987,234 shares of the medical research company's stock valued at $211,238,000 after purchasing an additional 131,020 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Charles River Laboratories International by 51.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 976,347 shares of the medical research company's stock valued at $192,144,000 after purchasing an additional 331,084 shares in the last quarter. 97.80% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Credit Suisse Group lowered their price objective on shares of Charles River Laboratories International from $285.00 to $280.00 and set an "outperform" rating for the company in a research report on Thursday, November 3rd. William Blair restated an "outperform" rating on shares of Charles River Laboratories International in a research report on Wednesday, November 2nd. Morgan Stanley lowered their price objective on shares of Charles River Laboratories International from $250.00 to $241.00 and set an "equal weight" rating for the company in a research report on Thursday, November 3rd. Jefferies Financial Group downgraded shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a research report on Thursday, January 12th. Finally, StockNews.com began coverage on shares of Charles River Laboratories International in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $297.38.
Charles River Laboratories International Stock Performance
Shares of Charles River Laboratories International stock opened at $245.09 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.40 and a debt-to-equity ratio of 1.12. Charles River Laboratories International, Inc. has a twelve month low of $181.36 and a twelve month high of $349.84. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 1.53 and a beta of 1.29. The company's fifty day moving average is $226.87 and its 200 day moving average is $219.18.
Charles River Laboratories International (NYSE:CRL – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The medical research company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.12. Charles River Laboratories International had a net margin of 11.54% and a return on equity of 20.93%. The company had revenue of $989.16 million for the quarter, compared to analysts' expectations of $978.65 million. Sell-side analysts forecast that Charles River Laboratories International, Inc. will post 10.89 EPS for the current year.
Insider Buying and Selling
In related news, EVP Joseph W. Laplume sold 534 shares of the business's stock in a transaction on Friday, November 4th. The shares were sold at an average price of $216.36, for a total value of $115,536.24. Following the sale, the executive vice president now owns 20,232 shares of the company's stock, valued at $4,377,395.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Michael Gunnar Knell sold 855 shares of the business's stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $248.59, for a total value of $212,544.45. Following the transaction, the chief accounting officer now owns 6,438 shares in the company, valued at $1,600,422.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Joseph W. Laplume sold 534 shares of the business's stock in a transaction on Friday, November 4th. The shares were sold at an average price of $216.36, for a total transaction of $115,536.24. Following the completion of the transaction, the executive vice president now owns 20,232 shares in the company, valued at approximately $4,377,395.52. The disclosure for this sale can be found here. Insiders have sold a total of 10,077 shares of company stock valued at $2,334,821 over the last 90 days. 1.10% of the stock is owned by insiders.
Charles River Laboratories International Profile
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Charles River Laboratories International, Inc is an early-stage contract research company, which provides research models required in the research and development of new drugs, devices, and therapies. It operates through the following segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions.
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