Raymond James Financial Services Advisors Inc. lowered its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL – Get Rating) by 16.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,671 shares of the medical research company's stock after selling 318 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Charles River Laboratories International were worth $329,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRL. Ronald Blue Trust Inc. acquired a new position in Charles River Laboratories International during the 2nd quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in Charles River Laboratories International during the 2nd quarter worth $29,000. SRS Capital Advisors Inc. acquired a new position in Charles River Laboratories International during the 2nd quarter worth $35,000. Covestor Ltd boosted its position in Charles River Laboratories International by 100.0% during the 1st quarter. Covestor Ltd now owns 174 shares of the medical research company's stock worth $49,000 after acquiring an additional 87 shares during the period. Finally, Salem Investment Counselors Inc. boosted its position in Charles River Laboratories International by 65.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the medical research company's stock worth $51,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds own 97.80% of the company's stock.
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Shares of Charles River Laboratories International stock opened at $245.09 on Friday. The stock's fifty day moving average is $226.87 and its 200-day moving average is $219.18. The firm has a market capitalization of $12.47 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.29. 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 12-month low of $181.36 and a 12-month high of $349.84.
Charles River Laboratories International (NYSE:CRL – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The medical research company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.12. The firm had revenue of $989.16 million for the quarter, compared to analyst estimates of $978.65 million. Charles River Laboratories International had a return on equity of 20.93% and a net margin of 11.54%. Equities analysts anticipate that Charles River Laboratories International, Inc. will post 10.89 earnings per share for the current year.Insider Activity at Charles River Laboratories International
In related news, EVP Joseph W. Laplume sold 6,409 shares of the company's stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $224.25, for a total transaction of $1,437,218.25. Following the transaction, the executive vice president now directly owns 20,232 shares of the company's stock, valued at $4,537,026. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 6,409 shares of the company's stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $224.25, for a total value of $1,437,218.25. Following the transaction, the executive vice president now directly owns 20,232 shares of the company's stock, valued at approximately $4,537,026. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Michael Gunnar Knell sold 855 shares of the company's stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $248.59, for a total value of $212,544.45. Following the completion of the transaction, the chief accounting officer now directly owns 6,438 shares in the company, valued at $1,600,422.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,077 shares of company stock valued at $2,334,821. Company insiders own 1.10% of the company's stock.
Analyst Ratings Changes
A number of research analysts have issued reports on CRL shares. William Blair reiterated an "outperform" rating on shares of Charles River Laboratories International in a research report on Wednesday, November 2nd. StockNews.com started coverage on Charles River Laboratories International in a report on Wednesday, October 12th. They issued a "hold" rating for the company. Morgan Stanley cut their price objective on Charles River Laboratories International from $250.00 to $241.00 and set an "equal weight" rating for the company in a report on Thursday, November 3rd. Credit Suisse Group cut their price objective on Charles River Laboratories International from $285.00 to $280.00 and set an "outperform" rating for the company in a report on Thursday, November 3rd. Finally, Jefferies Financial Group lowered Charles River Laboratories International from a "buy" rating to a "hold" rating in a report on Thursday, January 12th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Charles River Laboratories International has an average rating of "Moderate Buy" and a consensus price target of $297.38.
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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