CIBC Asset Management Inc Cuts Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

CIBC Asset Management Inc reduced its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRLFree Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,018 shares of the medical research company’s stock after selling 207 shares during the quarter. CIBC Asset Management Inc’s holdings in Charles River Laboratories International were worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. VisionPoint Advisory Group LLC boosted its position in shares of Charles River Laboratories International by 105.7% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 144 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 74 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Charles River Laboratories International during the 3rd quarter valued at approximately $37,000. Operose Advisors LLC bought a new position in shares of Charles River Laboratories International during the 3rd quarter valued at approximately $42,000. Brown Brothers Harriman & Co. boosted its position in shares of Charles River Laboratories International by 76.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 95 shares during the last quarter. Finally, Provence Wealth Management Group bought a new position in shares of Charles River Laboratories International during the 3rd quarter valued at approximately $57,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRL. JPMorgan Chase & Co. increased their target price on Charles River Laboratories International from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. TheStreet upgraded Charles River Laboratories International from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. StockNews.com upgraded Charles River Laboratories International from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI raised their price target on Charles River Laboratories International from $260.00 to $265.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Finally, TD Cowen lowered their price target on Charles River Laboratories International from $260.00 to $228.00 and set a “hold” rating for the company in a research report on Monday, May 13th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.38.

Read Our Latest Report on CRL

Charles River Laboratories International Stock Down 3.1 %

NYSE:CRL opened at $214.79 on Friday. Charles River Laboratories International, Inc. has a twelve month low of $161.65 and a twelve month high of $275.00. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.40. The stock has a fifty day simple moving average of $231.10 and a 200-day simple moving average of $231.31. The company has a current ratio of 1.75, a quick ratio of 1.37 and a debt-to-equity ratio of 0.73.

Charles River Laboratories International (NYSE:CRLGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The medical research company reported $2.27 EPS for the quarter, beating the consensus estimate of $2.05 by $0.22. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $997.24 million. Charles River Laboratories International had a return on equity of 15.16% and a net margin of 10.81%. Analysts anticipate that Charles River Laboratories International, Inc. will post 11 EPS for the current year.

Insider Activity

In other news, EVP Joseph W. Laplume sold 1,304 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $226.97, for a total transaction of $295,968.88. Following the transaction, the executive vice president now owns 23,276 shares in the company, valued at $5,282,953.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Charles River Laboratories International Company Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Charles River Laboratories International (NYSE:CRL)

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