Janney Montgomery Scott LLC Has $1.58 Million Stock Position in Charles River Laboratories International, Inc. $CRL

Key Points

• Janney Montgomery Scott LLC drastically reduced its stake in Charles River Laboratories by 76.7%, now holding shares worth $1.58 million after selling over 34,000 shares in the second quarter.
• Charles River Laboratories reported strong quarterly earnings, with an EPS of $3.12, surpassing analysts' expectations of $2.50, and a revenue of $1.03 billion.
• The company's stock is currently rated with a consensus of "Hold" from analysts, with a price target ranging around $179.93.

Janney Montgomery Scott LLC lowered its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 76.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,383 shares of the medical research company's stock after selling 34,117 shares during the period. Janney Montgomery Scott LLC's holdings in Charles River Laboratories International were worth $1,575,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CRL. Exchange Traded Concepts LLC raised its stake in Charles River Laboratories International by 1.3% during the second quarter. Exchange Traded Concepts LLC now owns 5,742 shares of the medical research company's stock worth $871,000 after buying an additional 76 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Charles River Laboratories International by 93.5% during the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock valued at $27,000 after buying an additional 86 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Charles River Laboratories International by 2.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 3,916 shares of the medical research company's stock valued at $589,000 after buying an additional 102 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Charles River Laboratories International by 6.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,926 shares of the medical research company's stock valued at $290,000 after buying an additional 123 shares during the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of Charles River Laboratories International by 10.2% during the first quarter. Empirical Finance LLC now owns 1,442 shares of the medical research company's stock valued at $217,000 after buying an additional 133 shares during the last quarter. Institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Stock Down 2.9%

NYSE:CRL opened at $167.17 on Friday. The firm has a market cap of $8.23 billion, a P/E ratio of -125.69, a P/E/G ratio of 4.47 and a beta of 1.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.36. 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 has a 50-day simple moving average of $159.23 and a two-hundred day simple moving average of $147.55.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.62. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate 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 business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.80 EPS. Analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Joseph W. Laplume sold 800 shares of Charles River Laboratories International stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction of $126,080.00. Following the sale, the executive vice president owned 24,116 shares in the company, valued at $3,800,681.60. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRL. Citigroup upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $150.00 to $200.00 in a report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. William Blair raised shares of Charles River Laboratories International from a "market perform" rating to an "outperform" rating in a research note on Monday, October 6th. Barclays raised shares of Charles River Laboratories International from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $165.00 to $195.00 in a research note on Thursday, October 2nd. Finally, Evercore ISI boosted their price target on shares of Charles River Laboratories International from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $179.93.

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).

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