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

CIBC Asset Management Inc lowered its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,302 shares of the medical research company’s stock after selling 229 shares during the quarter. CIBC Asset Management Inc’s holdings in Charles River Laboratories International were worth $1,348,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. AlphaCentric Advisors LLC purchased a new position in Charles River Laboratories International in the 4th quarter worth approximately $272,000. Baillie Gifford & Co. boosted its holdings in Charles River Laboratories International by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 75,411 shares of the medical research company’s stock worth $13,921,000 after acquiring an additional 6,826 shares during the period. V Square Quantitative Management LLC boosted its holdings in Charles River Laboratories International by 12.6% in the 4th quarter. V Square Quantitative Management LLC now owns 1,084 shares of the medical research company’s stock worth $200,000 after acquiring an additional 121 shares during the period. Vontobel Holding Ltd. purchased a new position in Charles River Laboratories International in the 4th quarter worth approximately $335,000. Finally, Asset Management One Co. Ltd. boosted its holdings in Charles River Laboratories International by 1.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 18,918 shares of the medical research company’s stock worth $3,522,000 after acquiring an additional 315 shares during the period. Hedge funds and other institutional investors own 98.91% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James C. Foster bought 6,075 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average cost of $165.01 per share, with a total value of $1,002,435.75. Following the completion of the transaction, the chief executive officer now directly owns 183,639 shares of the company’s stock, valued at approximately $30,302,271.39. This represents a 3.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Birgit Girshick bought 1,514 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was bought at an average cost of $164.63 per share, for a total transaction of $249,249.82. Following the completion of the transaction, the chief operating officer now directly owns 55,058 shares of the company’s stock, valued at $9,064,198.54. This trade 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 corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRL. TD Cowen upped their price target on Charles River Laboratories International from $203.00 to $227.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays cut their target price on Charles River Laboratories International from $205.00 to $166.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Robert W. Baird cut 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. UBS Group reaffirmed a “neutral” rating and issued a $185.00 target price (down from $250.00) on shares of Charles River Laboratories International in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. cut their target price 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. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $195.71.

Charles River Laboratories International Stock Performance

CRL stock opened at $163.11 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65. The firm has a market cap of $8.34 billion, a P/E ratio of 1,087.39, a P/E/G ratio of 4.54 and a beta of 1.37. Charles River Laboratories International, Inc. has a 12-month low of $150.79 and a 12-month high of $275.00. The stock’s 50 day simple moving average is $172.84 and its 200 day simple moving average is $188.09.

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 the consensus estimate 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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $983.63 million. During the same period last year, the company earned $2.46 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

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).