Charles River Laboratories International, Inc. (NYSE:CRL) Shares Bought by Confluence Investment Management LLC

Confluence Investment Management LLC grew its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,526 shares of the medical research company's stock after acquiring an additional 3,522 shares during the quarter. Confluence Investment Management LLC owned about 0.19% of Charles River Laboratories International worth $14,529,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CRL. Vanguard Group Inc. increased its position in shares of Charles River Laboratories International by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,158,926 shares of the medical research company's stock worth $1,136,938,000 after purchasing an additional 60,497 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Charles River Laboratories International by 9.0% during the 4th quarter. Wellington Management Group LLP now owns 4,076,426 shares of the medical research company's stock worth $752,508,000 after purchasing an additional 335,658 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Charles River Laboratories International by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,808,002 shares of the medical research company's stock worth $330,231,000 after purchasing an additional 47,221 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Charles River Laboratories International by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,233,211 shares of the medical research company's stock worth $227,042,000 after purchasing an additional 14,787 shares during the last quarter. Finally, Ariel Investments LLC increased its position in shares of Charles River Laboratories International by 18.9% during the 4th quarter. Ariel Investments LLC now owns 1,067,327 shares of the medical research company's stock worth $197,029,000 after purchasing an additional 169,640 shares during the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Stock Performance

Shares of NYSE:CRL traded down $0.86 during trading on Monday, reaching $134.77. The company had a trading volume of 172,524 shares, compared to its average volume of 993,110. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 898.87, a price-to-earnings-growth ratio of 4.54 and a beta of 1.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.14. The stock's fifty day moving average price is $129.03 and its 200 day moving average price is $160.18. Charles River Laboratories International, Inc. has a fifty-two week low of $91.86 and a fifty-two week high of $254.15.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.28. The business had revenue of $984.17 million for the quarter, compared to analyst estimates of $942.34 million. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 earnings per share. As a group, equities research analysts predict that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Insider Buying and Selling

In related news, EVP Joseph W. Laplume sold 500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $145.41, for a total value of $72,705.00. Following the completion of the sale, the executive vice president now owns 19,513 shares in the company, valued at $2,837,385.33. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CRL has been the subject of a number of recent analyst reports. Citigroup raised Charles River Laboratories International from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $155.00 to $175.00 in a research report on Tuesday, March 4th. Mizuho lowered their target price on Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Redburn Atlantic upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and lowered their target price for the company from $188.00 to $182.00 in a report on Friday, May 23rd. Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Barclays raised their target price on Charles River Laboratories International from $145.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Charles River Laboratories International currently has an average rating of "Hold" and an average target price of $171.85.

Charles River Laboratories International Company 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).