OFI Invest Asset Management Takes Position in Charles River Laboratories International, Inc. (NYSE:CRL)

OFI Invest Asset Management acquired a new stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,300 shares of the medical research company’s stock, valued at approximately $945,000.

A number of other institutional investors have also recently made changes to their positions in CRL. Empirical Finance LLC increased its holdings in Charles River Laboratories International by 4.2% in the 3rd quarter. Empirical Finance LLC now owns 1,310 shares of the medical research company’s stock worth $258,000 after buying an additional 53 shares in the last quarter. Fiduciary Financial Group LLC boosted its position in Charles River Laboratories International by 3.9% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,665 shares of the medical research company’s stock worth $310,000 after purchasing an additional 63 shares during the last quarter. Pinnacle Bancorp Inc. boosted its position in 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. M&T Bank Corp boosted its position in Charles River Laboratories International by 3.4% in the third quarter. M&T Bank Corp now owns 2,001 shares of the medical research company’s stock worth $394,000 after purchasing an additional 66 shares during the last quarter. Finally, Cornerstone Investment Partners LLC boosted its position in Charles River Laboratories International by 3.7% in the fourth quarter. Cornerstone Investment Partners LLC now owns 1,940 shares of the medical research company’s stock worth $358,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CRL. The Goldman Sachs Group dropped their target price on Charles River Laboratories International from $220.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley dropped their target price on Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Robert W. Baird dropped their target price on Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Citigroup raised Charles River Laboratories International from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $155.00 to $175.00 in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lowered their price objective on Charles River Laboratories International from $175.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $198.36.

Charles River Laboratories International Stock Performance

NYSE:CRL opened at $176.20 on Monday. 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 $274.77. The stock’s 50 day simple moving average is $169.15 and its two-hundred day simple moving average is $185.63. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 1,174.68, a PEG ratio of 4.54 and a beta of 1.45.

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

Insiders Place Their Bets

In related news, CEO James C. Foster bought 6,075 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price of $165.01 per share, with a total value of $1,002,435.75. Following the transaction, the chief executive officer now owns 183,639 shares in the company, valued at $30,302,271.39. This trade represents a 3.42 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph W. Laplume sold 4,400 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $162.50, for a total value of $715,000.00. Following the transaction, the executive vice president now directly owns 20,013 shares in the company, valued at approximately $3,252,112.50. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

About Charles River Laboratories International

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).