Bank of New York Mellon Corp Cuts Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Bank of New York Mellon Corp decreased its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 26.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 345,329 shares of the medical research company's stock after selling 123,265 shares during the period. Bank of New York Mellon Corp owned about 0.70% of Charles River Laboratories International worth $51,979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC boosted its stake in shares of Charles River Laboratories International by 480.0% during the 1st quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock valued at $26,000 after buying an additional 144 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Charles River Laboratories International during the 4th quarter valued at $37,000. GeoWealth Management LLC boosted its stake in shares of 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 valued at $46,000 after buying an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Charles River Laboratories International during the 4th quarter valued at $48,000. Finally, Huntington National Bank raised its holdings in shares of Charles River Laboratories International by 120.6% during the 4th quarter. Huntington National Bank now owns 300 shares of the medical research company's stock valued at $55,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company's stock.

Charles River Laboratories International Stock Down 2.4%

Shares of NYSE CRL traded down $3.88 during mid-day trading on Friday, reaching $159.78. 518,978 shares of the company's stock traded hands, compared to its average volume of 1,034,082. Charles River Laboratories International, Inc. has a 1-year low of $91.86 and a 1-year high of $254.15. The stock has a market cap of $7.85 billion, a P/E ratio of -245.81, a PEG ratio of 5.40 and a beta of 1.49. The business has a 50-day simple moving average of $144.87 and a 200 day simple moving average of $151.59. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.43 and a quick ratio of 1.16.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The medical research company reported $2.34 EPS for the quarter, topping the consensus estimate of $2.06 by $0.28. Charles River Laboratories International had a negative net margin of 0.66% and a positive return on equity of 15.19%. The business had revenue of $984.17 million for the quarter, compared to analyst estimates of $942.34 million. During the same quarter in the previous year, the firm posted $2.27 earnings per share. The company's revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts expect that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $145.41, for a total transaction of $72,705.00. Following the sale, the executive vice president owned 19,513 shares of the company's stock, valued at approximately $2,837,385.33. This represents a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. The Goldman Sachs Group downgraded shares of Charles River Laboratories International from a "buy" rating to a "neutral" rating and cut their price target for the company from $190.00 to $170.00 in a report on Friday, March 21st. Citigroup upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and raised their price target for the company from $150.00 to $200.00 in a report on Wednesday. Wall Street Zen downgraded shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Evercore ISI raised their price target on shares of Charles River Laboratories International from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Charles River Laboratories International presently has an average rating of "Hold" and a consensus price target of $174.54.

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).