164,307 Charles River Laboratories International, Inc. $CRL Shares Sold by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates cut its Charles River Laboratories stake by 36.6%, selling 164,307 shares in the third quarter. It retained 285,107 shares, valued at about $84.1 million.
• Institutional investors and hedge funds own 98.91% of the company’s stock; several other investors increased their holdings during the reported periods.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $308.17. Charles River beat quarterly earnings and revenue estimates, though revenue fell 2.2% year over year.

Van Berkom & Associates Inc. trimmed its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 36.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 285,107 shares of the medical research company's stock after selling 164,307 shares during the period. Charles River Laboratories International accounts for about 3.0% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 7th largest position. Van Berkom & Associates Inc. owned approximately 0.60% of Charles River Laboratories International worth $84,109,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRL. Amundi grew its holdings in Charles River Laboratories International by 175.2% during the first quarter. Amundi now owns 773,315 shares of the medical research company's stock valued at $133,397,000 after purchasing an additional 492,301 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Charles River Laboratories International by 14.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,652,484 shares of the medical research company's stock valued at $285,001,000 after purchasing an additional 210,260 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Charles River Laboratories International by 230.9% in the third quarter. Assenagon Asset Management S.A. now owns 204,537 shares of the medical research company's stock valued at $59,044,000 after purchasing an additional 142,716 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Charles River Laboratories International by 1,246.1% in the third quarter. Retirement Systems of Alabama now owns 136,211 shares of the medical research company's stock worth $40,184,000 after buying an additional 126,092 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Charles River Laboratories International by 2,268.2% in the third quarter. State of Alaska Department of Revenue now owns 111,781 shares of the medical research company's stock worth $32,977,000 after buying an additional 107,061 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CRL shares. UBS Group upped their price objective on shares of Charles River Laboratories International from $357.00 to $387.00 and gave the stock a "buy" rating in a report on Thursday, November 5th. Argus set a $330.00 target price on shares of Charles River Laboratories International in a research note on Thursday, September 17th. Barclays lifted their target price on shares of Charles River Laboratories International from $330.00 to $375.00 and gave the stock an "overweight" rating in a report on Thursday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles River Laboratories International from $300.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, September 25th. Finally, Royal Bank Of Canada upped their price target on shares of Charles River Laboratories International from $322.00 to $352.00 and gave the company an "outperform" rating in a report on Thursday, November 5th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $308.17.

Charles River Laboratories International Stock Performance

NYSE:CRL opened at $354.45 on Tuesday. The firm's 50-day moving average is $306.96 and its 200-day moving average is $225.82. Charles River Laboratories International, Inc. has a 52-week low of $146.20 and a 52-week high of $379.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.41. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 389.51, a PEG ratio of 3.04 and a beta of 1.36.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The medical research company reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.12. Charles River Laboratories International had a net margin of 1.01% and a return on equity of 16.95%. The business had revenue of $982.73 million during the quarter, compared to analyst estimates of $960.36 million. During the same quarter in the prior year, the business earned $2.43 earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts anticipate that Charles River Laboratories International, Inc. will post 11.44 earnings per share for the current year.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, Director Nancy C. Andrews sold 573 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $285.24, for a total value of $163,442.52. Following the completion of the sale, the director owned 1,438 shares in the company, valued at approximately $410,175.12. This trade represents a 28.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Shannon Parisotto sold 2,156 shares of the firm's stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $344.41, for a total value of $742,547.96. Following the completion of the sale, the executive vice president owned 4,807 shares of the company's stock, valued at $1,655,578.87. This represents a 30.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 63,352 shares of company stock valued at $20,291,281 in the last quarter. Corporate insiders own 1.30% of the company's stock.

Charles River Laboratories International Profile

Charles River Laboratories International is a contract research organization that supports pharmaceutical and biotechnology companies, as well as academic and government researchers, in developing medicines and advancing scientific research. Its services span the drug development process, from early discovery and preclinical research to manufacturing support.

The company's offerings include research models and related services, drug discovery and safety assessment, and manufacturing solutions.

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