NewEdge Wealth LLC Trims Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

NewEdge Wealth LLC lowered its position in Charles River Laboratories International, Inc. (NYSE:CRL) by 21.1% during the 4th quarter, HoldingsChannel reports. The fund owned 16,961 shares of the medical research company’s stock after selling 4,531 shares during the period. NewEdge Wealth LLC’s holdings in Charles River Laboratories International were worth $3,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of Charles River Laboratories International by 1,071.4% in the fourth quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 150 shares during the period. Assetmark Inc. raised its stake in shares of Charles River Laboratories International by 1,153.3% in the third quarter. Assetmark Inc. now owns 188 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 173 shares during the period. Pinnacle Bancorp Inc. grew its holdings in shares of Charles River Laboratories International by 52.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock worth $35,000 after purchasing an additional 65 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Charles River Laboratories International in the third quarter worth about $59,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Charles River Laboratories International in the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRL. Robert W. Baird cut their price target on shares of Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. StockNews.com cut shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group restated a “neutral” rating and issued a $185.00 price target (down from $250.00) on shares of Charles River Laboratories International in a report on Friday, January 17th. Morgan Stanley cut their price target on shares of Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Bank of America cut their price target on shares of Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Charles River Laboratories International has an average rating of “Hold” and a consensus target price of $195.71.

Charles River Laboratories International Stock Up 0.1 %

Shares of Charles River Laboratories International stock opened at $165.01 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.14. Charles River Laboratories International, Inc. has a 1 year low of $150.79 and a 1 year high of $275.00. The firm’s 50-day moving average is $170.94 and its two-hundred day moving average is $187.05. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 1,100.04, a PEG ratio of 4.54 and a beta of 1.37.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.16. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $983.63 million. During the same period last year, the business earned $2.46 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. As a group, research analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Joseph W. Laplume sold 4,400 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $162.50, for a total value of $715,000.00. Following the sale, the executive vice president now directly owns 20,013 shares in the company, valued at approximately $3,252,112.50. This trade represents a 18.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James C. Foster purchased 6,075 shares of the stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $165.01 per share, for a total transaction of $1,002,435.75. Following the completion of the acquisition, the chief executive officer now directly owns 183,639 shares in the company, valued at approximately $30,302,271.39. This represents a 3.42 % increase in their position. The disclosure for this purchase can be found here. Company 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).