Rhenman & Partners Asset Management AB Reduces Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Rhenman & Partners Asset Management AB lessened its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 60.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,850 shares of the medical research company’s stock after selling 22,650 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Charles River Laboratories International were worth $2,741,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of Charles River Laboratories International by 1,071.4% during the 4th quarter. Versant Capital Management Inc now owns 164 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 150 shares during the period. Pinnacle Bancorp Inc. increased its holdings in Charles River Laboratories International by 52.0% during the fourth quarter. Pinnacle Bancorp Inc. now owns 190 shares of the medical research company’s stock valued at $35,000 after buying an additional 65 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Charles River Laboratories International in the fourth quarter worth approximately $48,000. Tortoise Investment Management LLC boosted its stake in shares of Charles River Laboratories International by 77.7% during the 4th quarter. Tortoise Investment Management LLC now owns 263 shares of the medical research company’s stock worth $49,000 after acquiring an additional 115 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Charles River Laboratories International during the 3rd quarter valued at $59,000. Institutional investors own 98.91% of the company’s stock.

Wall Street Analyst Weigh In

CRL has been the topic of a number of recent research reports. William Blair cut Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 22nd. Citigroup raised Charles River Laboratories International from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $155.00 to $175.00 in a research note on Tuesday, March 4th. Bank of America cut their price objective on Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Robert W. Baird decreased their target price on shares of Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Finally, Morgan Stanley dropped their price target on shares of Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Charles River Laboratories International presently has an average rating of “Hold” and a consensus price target of $189.77.

Insiders Place Their Bets

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 4,400 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $162.50, for a total transaction of $715,000.00. Following the completion of the transaction, the executive vice president now owns 20,013 shares in the company, valued at $3,252,112.50. This trade represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James C. Foster bought 6,075 shares of Charles River Laboratories International stock in a transaction dated Thursday, February 20th. The stock was acquired 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 owns 183,639 shares in the company, valued at approximately $30,302,271.39. The trade was a 3.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Charles River Laboratories International Stock Performance

Shares of NYSE CRL opened at $136.95 on Friday. The company has a market cap of $7.00 billion, a P/E ratio of 912.99, a P/E/G ratio of 4.54 and a beta of 1.45. Charles River Laboratories International, Inc. has a 52-week low of $132.99 and a 52-week high of $258.56. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.14 and a current ratio of 1.41. The firm’s fifty day moving average is $162.49 and its two-hundred day moving average is $180.95.

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

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).