Charles River Laboratories International, Inc. (NYSE:CRL) Stake Lessened by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has reduced its stake in Charles River Laboratories by 43.9%, selling 2,189 shares to own 2,801 shares valued at around $422,000.
• Several institutional investors, including the Teachers Retirement System of Kentucky and New York State Common Retirement Fund, have increased their positions in Charles River Laboratories during the same period.
• Charles River Laboratories reported $2.34 earnings per share for the last quarter, exceeding analyst expectations, despite a 2.7% decline in revenue year-over-year.

Allianz Asset Management GmbH cut its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 43.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,801 shares of the medical research company's stock after selling 2,189 shares during the period. Allianz Asset Management GmbH's holdings in Charles River Laboratories International were worth $422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its stake in Charles River Laboratories International by 480.0% in the 1st quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock worth $26,000 after buying an additional 144 shares in the last quarter. HM Payson & Co. bought a new position in shares of Charles River Laboratories International in the 1st quarter valued at about $31,000. Optiver Holding B.V. purchased a new position in Charles River Laboratories International during the 4th quarter worth $37,000. GeoWealth Management LLC increased its holdings in Charles River Laboratories International by 311.5% during the 4th quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock worth $46,000 after purchasing an additional 190 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Charles River Laboratories International during the fourth quarter valued at approximately $48,000. Institutional investors own 98.91% of the company's stock.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 500 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $145.41, for a total value of $72,705.00. Following the transaction, the executive vice president owned 19,513 shares in the company, valued at $2,837,385.33. The trade was a 2.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Performance

Shares of Charles River Laboratories International stock traded down $14.38 during trading on Wednesday, hitting $153.11. 1,315,879 shares of the company's stock traded hands, compared to its average volume of 1,284,818. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $230.02. The business has a 50-day simple moving average of $154.75 and a 200-day simple moving average of $149.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.43 and a quick ratio of 1.16. The stock has a market capitalization of $7.52 billion, a P/E ratio of -235.56, a PEG ratio of 5.68 and a beta of 1.48.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.62. Charles River Laboratories International had a positive return on equity of 15.19% and a negative net margin of 0.66%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.80 earnings per share. As a group, analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Mizuho reduced their price objective on Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Evercore ISI upped their price objective on Charles River Laboratories International from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Robert W. Baird raised their price objective on Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and decreased their price target for the company from $188.00 to $182.00 in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Charles River Laboratories International currently has an average rating of "Hold" and a consensus target price of $174.54.

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).