Envestnet Asset Management Inc. Sells 22,973 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Envestnet Asset Management Inc. reduced its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 9.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 221,261 shares of the medical research company's stock after selling 22,973 shares during the quarter. Envestnet Asset Management Inc. owned about 0.45% of Charles River Laboratories International worth $33,304,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Concurrent Investment Advisors LLC bought a new stake in shares of Charles River Laboratories International in the 1st quarter worth approximately $213,000. HM Payson & Co. bought a new stake in shares of Charles River Laboratories International in the 1st quarter worth approximately $31,000. IFM Investors Pty Ltd grew its position in shares of Charles River Laboratories International by 8.7% in the 1st quarter. IFM Investors Pty Ltd now owns 9,385 shares of the medical research company's stock worth $1,413,000 after buying an additional 755 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Charles River Laboratories International in the 1st quarter worth approximately $1,231,000. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of Charles River Laboratories International in the 1st quarter valued at approximately $208,000. 98.91% of the stock is currently owned by institutional investors.

Charles River Laboratories International Price Performance

Shares of Charles River Laboratories International stock opened at $159.78 on Monday. The stock's 50-day simple moving average is $144.87 and its 200-day simple moving average is $151.35. Charles River Laboratories International, Inc. has a 52 week low of $91.86 and a 52 week high of $254.15. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of -245.81, a PEG ratio of 5.40 and a beta of 1.49. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.78.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The medical research company reported $2.34 EPS for the quarter, beating the consensus estimate 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 business had revenue of $984.17 million for the quarter, compared to the consensus estimate of $942.34 million. During the same period in the previous year, the business earned $2.27 earnings per share. The business's revenue was down 2.7% on a year-over-year basis. As a group, analysts expect 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 subject of a number of recent research reports. The Goldman Sachs Group cut Charles River Laboratories International from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $190.00 to $170.00 in a research note on Friday, March 21st. TD Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price target for the company in a research note on Wednesday, May 14th. Robert W. Baird boosted their price target on Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Mizuho cut their price objective 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. One equities 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. Based on data from MarketBeat, Charles River Laboratories International has an average rating of "Hold" and a consensus target price of $174.54.

Insider Activity at Charles River Laboratories International

In related news, EVP Joseph W. Laplume sold 500 shares of the business'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 sale, the executive vice president directly owned 19,513 shares in the company, valued at approximately $2,837,385.33. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.