KLP Kapitalforvaltning AS Sells 9,600 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Charles River Laboratories by 49.2%, owning 9,900 shares worth approximately $1.49 million after selling 9,600 shares during the first quarter.
• Institutional investors currently own 98.91% of Charles River Laboratories, with significant recent investments including D1 Capital Partners acquiring a $172.75 million stake.
• The stock received mixed analyst ratings, with a consensus rating of "Hold" and an average price target of $174.54.

KLP Kapitalforvaltning AS trimmed its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 49.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,900 shares of the medical research company's stock after selling 9,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Charles River Laboratories International were worth $1,490,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Charles River Laboratories International by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,158,926 shares of the medical research company's stock worth $1,136,938,000 after purchasing an additional 60,497 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Charles River Laboratories International by 9.0% during the fourth quarter. Wellington Management Group LLP now owns 4,076,426 shares of the medical research company's stock worth $752,508,000 after purchasing an additional 335,658 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Charles River Laboratories International by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,233,211 shares of the medical research company's stock worth $227,042,000 after purchasing an additional 14,787 shares during the period. Ariel Investments LLC lifted its holdings in shares of Charles River Laboratories International by 18.9% during the fourth quarter. Ariel Investments LLC now owns 1,067,327 shares of the medical research company's stock worth $197,029,000 after purchasing an additional 169,640 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Charles River Laboratories International by 17.1% during the fourth quarter. Invesco Ltd. now owns 1,034,180 shares of the medical research company's stock worth $190,910,000 after purchasing an additional 151,159 shares during the period. 98.91% of the stock is owned by institutional investors.

Insider Transactions at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 500 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $145.41, for a total value of $72,705.00. Following the completion of the sale, the executive vice president directly owned 19,513 shares of the company's stock, valued at approximately $2,837,385.33. This represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Stock Down 1.2%

Shares of NYSE:CRL traded down $2.09 during midday trading on Wednesday, hitting $176.36. 536,042 shares of the company's stock were exchanged, compared to its average volume of 766,992. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.43 and a quick ratio of 1.16. The stock has a 50 day moving average price of $152.28 and a 200-day moving average price of $149.95. The company has a market cap of $8.66 billion, a PE ratio of -271.32, a price-to-earnings-growth ratio of 6.04 and a beta of 1.49. Charles River Laboratories International, Inc. has a 12 month low of $91.86 and a 12 month high of $254.15.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRL shares. Wall Street Zen lowered shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Evercore ISI boosted their target price on shares of Charles River Laboratories International from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Robert W. Baird boosted their target price on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Barclays boosted their target price on shares of Charles River Laboratories International from $145.00 to $155.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $174.54.

Charles River Laboratories International 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).