NewEdge Wealth LLC Decreases Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

NewEdge Wealth LLC trimmed its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 21.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Charles River Laboratories International

In related news, EVP Joseph W. Laplume sold 4,400 shares of the company’s 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 sale, the executive vice president now owns 20,013 shares of the company’s stock, valued at $3,252,112.50. This 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, COO Birgit Girshick purchased 1,514 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $164.63 per share, for a total transaction of $249,249.82. Following the purchase, the chief operating officer now owns 55,058 shares of the company’s stock, valued at $9,064,198.54. This represents a 2.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays cut their target price on shares of Charles River Laboratories International from $205.00 to $166.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Bank of America dropped their price target on shares of Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. StockNews.com lowered shares of Charles River Laboratories International from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird dropped their price target on shares of Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Finally, William Blair lowered shares of Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Charles River Laboratories International currently has a consensus rating of “Hold” and a consensus target price of $195.71.

Charles River Laboratories International Price Performance

Shares of NYSE:CRL opened at $165.01 on Friday. 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 has a fifty day moving average price of $170.94 and a 200 day moving average price of $187.05. Charles River Laboratories International, Inc. has a fifty-two week low of $150.79 and a fifty-two week high of $275.00. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 1,100.04, a P/E/G ratio of 4.54 and a beta of 1.37.

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 for the quarter, topping analysts’ consensus estimates of $2.50 by $0.16. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $983.63 million. Charles River Laboratories International had a net margin of 0.52% and a return on equity of 14.69%. Charles River Laboratories International’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. As a group, sell-side analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share 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).