Eminence Capital LP Sells 192,018 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• Eminence Capital LP has reduced its holdings in Charles River Laboratories by 30.6%, selling 192,018 shares to own approximately 0.89% of the company, valued at about $65.5 million.
• Several hedge funds, such as Brooklyn Investment Group and Teachers Retirement System of The State of Kentucky, have increased their stakes in Charles River Laboratories during the same period.
• Wall Street analysts have a consensus Hold rating for Charles River Laboratories, with an average price target of $175.69, reflecting positive sentiment towards its future performance.

Eminence Capital LP trimmed its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 30.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 435,454 shares of the medical research company's stock after selling 192,018 shares during the period. Eminence Capital LP owned approximately 0.89% of Charles River Laboratories International worth $65,545,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CRL. Rothschild Investment LLC raised its holdings 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 acquiring an additional 144 shares during the last quarter. Brooklyn Investment Group raised its holdings in Charles River Laboratories International by 93.5% in the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock worth $27,000 after acquiring an additional 86 shares during the last quarter. HM Payson & Co. purchased a new position in Charles River Laboratories International in the 1st quarter worth approximately $31,000. Parallel Advisors LLC raised its holdings in Charles River Laboratories International by 83.7% in the 1st quarter. Parallel Advisors LLC now owns 474 shares of the medical research company's stock worth $71,000 after acquiring an additional 216 shares during the last quarter. Finally, Groupe la Francaise raised its holdings in Charles River Laboratories International by 44.6% in the 1st quarter. Groupe la Francaise now owns 590 shares of the medical research company's stock worth $89,000 after acquiring an additional 182 shares during the last quarter. 98.91% of the stock is currently 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 on Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction of $126,080.00. Following the completion of the sale, the executive vice president owned 24,116 shares of the company's stock, valued at $3,800,681.60. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by insiders.

Charles River Laboratories International Stock Performance

Shares of CRL stock traded down $2.02 during mid-day trading on Monday, reaching $161.97. 1,161,229 shares of the company's stock traded hands, compared to its average volume of 1,233,894. Charles River Laboratories International, Inc. has a 12 month low of $91.86 and a 12 month high of $230.02. The firm has a 50 day moving average price of $160.62 and a two-hundred day moving average price of $148.93. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.36. The firm has a market capitalization of $7.97 billion, a PE ratio of -121.78, a price-to-earnings-growth ratio of 5.24 and a beta of 1.47.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $983.76 million. During the same quarter in the previous year, the firm posted $2.80 EPS. The company's revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $150.00 to $200.00 in a report on Wednesday, July 9th. Wall Street Zen lowered shares of Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Evercore ISI boosted their price objective 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, Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and decreased their target price for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. Five 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 company. Based on data from MarketBeat.com, Charles River Laboratories International has a consensus rating of "Hold" and a consensus price target of $175.69.

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).