Envestnet Portfolio Solutions Inc. Cuts Stake in Charles River Laboratories International, Inc. (NYSE:CRL)

Envestnet Portfolio Solutions Inc. trimmed its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,679 shares of the medical research company's stock after selling 2,524 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Charles River Laboratories International were worth $704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRL. D1 Capital Partners L.P. bought a new stake in Charles River Laboratories International in the fourth quarter worth $172,752,000. Assenagon Asset Management S.A. boosted its holdings in Charles River Laboratories International by 1,721.1% in the first quarter. Assenagon Asset Management S.A. now owns 570,097 shares of the medical research company's stock worth $85,811,000 after acquiring an additional 538,792 shares in the last quarter. Norges Bank bought a new stake in Charles River Laboratories International in the fourth quarter worth $98,886,000. Wellington Management Group LLP boosted its holdings in Charles River Laboratories International by 9.0% in the fourth quarter. Wellington Management Group LLP now owns 4,076,426 shares of the medical research company's stock worth $752,508,000 after acquiring an additional 335,658 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Charles River Laboratories International in the fourth quarter worth $56,820,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Performance

CRL stock traded down $1.68 during trading on Friday, reaching $149.91. The stock had a trading volume of 814,656 shares, compared to its average volume of 1,024,364. Charles River Laboratories International, Inc. has a 52 week low of $91.86 and a 52 week high of $254.15. The stock's 50 day moving average is $136.13 and its two-hundred day moving average is $153.39. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. The firm has a market cap of $7.36 billion, a PE ratio of -230.64, a PEG ratio of 5.08 and a beta of 1.48.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The medical research company reported $2.34 earnings per share for the quarter, beating analysts' consensus estimates of $2.06 by $0.28. Charles River Laboratories International had a positive return on equity of 15.19% and a negative net margin of 0.66%. The company had revenue of $984.17 million for the quarter, compared to the consensus estimate of $942.34 million. During the same quarter in the prior year, the company earned $2.27 earnings per share. Charles River Laboratories International's revenue was down 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Wall Street Analyst Weigh In

CRL has been the topic of several analyst reports. Robert W. Baird boosted their target price 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. Mizuho dropped their target price on Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Barclays boosted their target price on Charles River Laboratories International from $145.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Citigroup raised Charles River Laboratories International from a "sell" rating to a "neutral" rating and upped their price target for the company from $155.00 to $175.00 in a report on Tuesday, March 4th. Finally, Evercore ISI raised Charles River Laboratories International from an "in-line" rating to an "outperform" rating and set a $170.00 price target on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Charles River Laboratories International has a consensus rating of "Hold" and an average target price of $171.85.

Insiders Place Their Bets

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 500 shares of the company'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 completion of the sale, the executive vice president now owns 19,513 shares in the company, valued at $2,837,385.33. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

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).