Lord Abbett & CO. LLC Sells 23,393 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• Lord Abbett & CO. LLC reduced its stake in Charles River Laboratories by 21.7%, owning 84,399 shares worth approximately $12.7 million after selling 23,393 shares in the first quarter.
• Several institutional investors have increased their positions in Charles River Laboratories, with 98.91% of the stock now owned by institutional investors and hedge funds.
• Analysts have upgraded their ratings on the stock, with Cowen and others projecting a target price increase, indicating confidence in the company's performance moving forward.

Lord Abbett & CO. LLC reduced its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 21.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 84,399 shares of the medical research company's stock after selling 23,393 shares during the quarter. Lord Abbett & CO. LLC owned about 0.17% of Charles River Laboratories International worth $12,704,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CRL. Rothschild Investment LLC increased its stake in shares of Charles River Laboratories International by 480.0% during the first 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 worth approximately $37,000. HM Payson & Co. acquired a new position in shares of Charles River Laboratories International during the 1st quarter worth approximately $31,000. GeoWealth Management LLC raised 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 worth $46,000 after buying an additional 190 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Charles River Laboratories International by 83.7% during the first quarter. Parallel Advisors LLC now owns 474 shares of the medical research company's stock worth $71,000 after purchasing an additional 216 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors.

Insider Transactions at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total value of $126,080.00. Following the transaction, the executive vice president directly owned 24,116 shares in the company, valued at $3,800,681.60. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Performance

CRL stock traded down $2.8530 during mid-day trading on Thursday, hitting $156.7270. 99,578 shares of the company were exchanged, compared to its average volume of 1,265,127. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Charles River Laboratories International, Inc. has a 1-year low of $91.86 and a 1-year high of $230.02. The business has a 50 day simple moving average of $157.37 and a 200-day simple moving average of $148.83. The stock has a market capitalization of $7.71 billion, a PE ratio of -118.07, a price-to-earnings-growth ratio of 5.06 and a beta of 1.48.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.62. The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $983.76 million. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The company's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 earnings per share. On average, equities analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRL has been the topic of several research reports. Barclays increased their target price on Charles River Laboratories International from $155.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Redburn Atlantic raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and cut their price target for the stock from $188.00 to $182.00 in a report on Friday, May 23rd. Wall Street Zen lowered Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, TD Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 target price for the company in a research note on Wednesday, May 14th. Five equities 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $175.69.

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).