Sumitomo Mitsui Trust Group Inc. Reduces Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 98.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,141 shares of the medical research company's stock after selling 122,956 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Charles River Laboratories International were worth $322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRL. Smartleaf Asset Management LLC lifted its holdings in Charles River Laboratories International by 61.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 459 shares of the medical research company's stock valued at $84,000 after buying an additional 175 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Charles River Laboratories International by 16.3% in the 4th quarter. Jones Financial Companies Lllp now owns 641 shares of the medical research company's stock worth $118,000 after buying an additional 90 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Charles River Laboratories International by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 552,975 shares of the medical research company's stock worth $102,079,000 after buying an additional 37,753 shares during the last quarter. Assetmark Inc. grew its position in shares of Charles River Laboratories International by 5,099.5% in the 4th quarter. Assetmark Inc. now owns 9,775 shares of the medical research company's stock worth $1,804,000 after buying an additional 9,587 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of Charles River Laboratories International by 12.2% in the 4th quarter. M&T Bank Corp now owns 2,246 shares of the medical research company's stock worth $415,000 after buying an additional 245 shares during the last quarter. Institutional investors own 98.91% of the company's stock.

Insiders Place Their Bets

In other news, EVP Joseph W. Laplume sold 500 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president owned 19,513 shares of the company's stock, valued at $2,837,385.33. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRL. Redburn Atlantic raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $188.00 to $182.00 in a research report on Friday, May 23rd. TD Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price objective on the stock in a research report on Wednesday, May 14th. Robert W. Baird lifted their price objective on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Evercore ISI raised shares of Charles River Laboratories International from an "in-line" rating to an "outperform" rating and set a $170.00 target price on the stock in a research report on Thursday, May 8th. Finally, Mizuho dropped their target price on shares of Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $171.85.

Charles River Laboratories International Stock Performance

Shares of CRL traded down $1.43 during trading hours on Monday, hitting $155.69. The stock had a trading volume of 69,324 shares, compared to its average volume of 1,025,364. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.43. The firm has a 50-day moving average price of $140.70 and a 200 day moving average price of $152.30. Charles River Laboratories International, Inc. has a fifty-two week low of $91.86 and a fifty-two week high of $254.15. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of -239.11, a PEG ratio of 5.32 and a beta of 1.49.

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

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).