Charles River Laboratories International, Inc. $CRL Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc significantly reduced its stake in Charles River Laboratories by 80.1%, leaving it with a position valued at $528,000 after selling 14,276 shares.
• Assenagon Asset Management S.A. and SG Americas Securities LLC made notable increases in their holdings, with Assenagon raising its stake by 1,721.1% and SG Americas by 16,153.2% during the first quarter.
• Charles River Laboratories reported earnings of $3.12 EPS for the last quarter, surpassing analyst expectations and demonstrating a 0.6% year-over-year revenue growth.

Aberdeen Group plc reduced its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 80.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,541 shares of the medical research company's stock after selling 14,276 shares during the quarter. Aberdeen Group plc's holdings in Charles River Laboratories International were worth $528,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in Charles River Laboratories International in the 1st quarter valued at about $1,231,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Charles River Laboratories International by 15.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,118 shares of the medical research company's stock valued at $952,000 after buying an additional 817 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Charles River Laboratories International by 13.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 44,500 shares of the medical research company's stock valued at $6,698,000 after buying an additional 5,148 shares in the last quarter. GAMMA Investing LLC lifted its stake in Charles River Laboratories International by 61.6% in the 1st quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock valued at $210,000 after buying an additional 533 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in Charles River Laboratories International in the 1st quarter valued at about $213,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Joseph W. Laplume sold 800 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction of $126,080.00. Following the transaction, the executive vice president directly owned 24,116 shares in the company, valued at $3,800,681.60. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by company insiders.

Charles River Laboratories International Stock Down 0.5%

Shares of Charles River Laboratories International stock traded down $0.77 during trading on Thursday, hitting $162.04. 60,553 shares of the stock were exchanged, compared to its average volume of 1,246,508. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of -121.61, a price-to-earnings-growth ratio of 5.22 and a beta of 1.48. The firm's 50-day moving average price is $158.64 and its 200 day moving average price is $148.73. Charles River Laboratories International, Inc. has a 12-month low of $91.86 and a 12-month high of $230.02. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.10.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.62. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $983.76 million. During the same period in the previous year, the company earned $2.80 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRL has been the topic of a number of research reports. Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. raised their target price on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Robert W. Baird raised their price target on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Evercore ISI raised their price target on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, TD Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price target for the company in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $175.69.

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).