Empower Advisory Group LLC Cuts Position in Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• Empower Advisory Group LLC significantly reduced its holdings in Charles River Laboratories International by 98.0%, selling 270,379 shares and retaining only 5,472 shares valued at $824,000.
• Several institutional investors made notable transactions, with Rothschild Investment LLC increasing its stake by 480.0% and other firms like HM Payson & Co. and Optiver Holding B.V. also buying shares.
• Charles River Laboratories has experienced a stock price decline of 10.1% recently, and analysts offer mixed ratings, with a consensus of "Hold" and an average target price of $174.54.

Empower Advisory Group LLC lessened its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 98.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,472 shares of the medical research company's stock after selling 270,379 shares during the period. Empower Advisory Group LLC's holdings in Charles River Laboratories International were worth $824,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rothschild Investment LLC lifted its stake in Charles River Laboratories International by 480.0% in the first quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock valued at $26,000 after purchasing an additional 144 shares during the last quarter. HM Payson & Co. purchased a new position in Charles River Laboratories International in the first quarter valued at approximately $31,000. Optiver Holding B.V. purchased a new position in Charles River Laboratories International in the fourth quarter valued at approximately $37,000. GeoWealth Management LLC lifted its stake in Charles River Laboratories International by 311.5% in the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock valued at $46,000 after purchasing an additional 190 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Charles River Laboratories International by 83.7% in the first quarter. Parallel Advisors LLC now owns 474 shares of the medical research company's stock valued at $71,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Trading Down 10.1%

Charles River Laboratories International stock opened at $150.60 on Thursday. The stock has a market cap of $7.40 billion, a P/E ratio of -231.69, a PEG ratio of 5.67 and a beta of 1.48. Charles River Laboratories International, Inc. has a fifty-two week low of $91.86 and a fifty-two week high of $230.02. The firm's fifty day moving average price is $155.03 and its 200-day moving average price is $149.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.43.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, topping the consensus estimate 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 0.66% and a positive return on equity of 15.19%. The business's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.80 earnings per share. Equities research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRL has been the topic of several research analyst reports. Wall Street Zen downgraded Charles River Laboratories International from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Citigroup raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and boosted their target price for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Robert W. Baird raised their price target 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. Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, Redburn Atlantic upgraded Charles River Laboratories International from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $174.54.

Insider Buying and Selling at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 500 shares of the stock in a transaction dated 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 directly owned 19,513 shares in the company, valued at approximately $2,837,385.33. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company's stock.

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).

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