Trexquant Investment LP Trims Stake in Charles River Laboratories International, Inc. $CRL

Key Points

• Trexquant Investment LP has significantly reduced its holdings in Charles River Laboratories, selling 78.4% of its shares and owning only 21,671 shares after the sale.
• Charles River Laboratories reported earnings per share of $3.12 for the quarter, outperforming analysts' estimates of $2.50, with revenue rising to $1.03 billion.
• Analysts' ratings for CRL stock vary with a consensus average rating of "Hold" and a target price of $175.69, while TD Cowen upgraded it to a "buy" rating at a price objective of $179.00.

Trexquant Investment LP decreased its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 78.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,671 shares of the medical research company's stock after selling 78,606 shares during the period. Trexquant Investment LP's holdings in Charles River Laboratories International were worth $3,262,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CRL. Brooklyn Investment Group grew its position in shares of Charles River Laboratories International by 93.5% during the 1st quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock worth $27,000 after buying an additional 86 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Charles River Laboratories International by 2.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 3,916 shares of the medical research company's stock valued at $589,000 after buying an additional 102 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Charles River Laboratories International by 2.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,131 shares of the medical research company's stock worth $763,000 after acquiring an additional 105 shares during the period. Veracity Capital LLC boosted its stake in shares of Charles River Laboratories International by 3.4% during the 1st quarter. Veracity Capital LLC now owns 3,298 shares of the medical research company's stock worth $496,000 after acquiring an additional 107 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Charles River Laboratories International by 6.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,926 shares of the medical research company's stock valued at $290,000 after purchasing an additional 123 shares during the period. Institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Stock Up 0.2%

Shares of Charles River Laboratories International stock traded up $0.27 during midday trading on Monday, hitting $164.26. The company had a trading volume of 92,960 shares, compared to its average volume of 1,227,450. 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 stock has a market capitalization of $8.08 billion, a P/E ratio of -123.39, a P/E/G ratio of 5.24 and a beta of 1.47. The company has a 50 day moving average of $160.62 and a 200 day moving average of $148.93. Charles River Laboratories International, Inc. has a 52-week low of $91.86 and a 52-week high of $230.02.

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, beating the consensus estimate of $2.50 by $0.62. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $983.76 million. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%.The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.80 EPS. On average, equities analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRL has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and upped their target price for the stock from $150.00 to $200.00 in a report on Wednesday, July 9th. TD Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price target on the stock in a research report on Wednesday, May 14th. Barclays increased their price target on Charles River Laboratories International from $155.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, Cowen raised Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Charles River Laboratories International currently has a consensus rating of "Hold" and a consensus target price of $175.69.

Insider Buying and Selling at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction on Monday, August 18th. The stock was 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 of the company's stock, valued at $3,800,681.60. This represents a 3.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

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).