Charles River Laboratories International, Inc. (NYSE:CRL) Stock Holdings Decreased by LPL Financial LLC

Key Points

• LPL Financial LLC has decreased its holdings in Charles River Laboratories International by 14.6%, now owning 40,070 shares valued at approximately $5.86 million.
• Multiple institutional investors, including Two Sigma Securities and Wahed Invest, have recently increased their stakes in Charles River Laboratories International, indicating growing interest among hedge funds.
• Analysts have generally upgraded their ratings on Charles River Laboratories, with Citigroup increasing its target price from $150 to $200 and categorizing the stock as a "buy."

LPL Financial LLC cut its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 14.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,070 shares of the medical research company's stock after selling 6,872 shares during the period. LPL Financial LLC owned about 0.08% of Charles River Laboratories International worth $5,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Ariel Investments LLC increased its holdings in shares of Charles River Laboratories International by 18.9% in the fourth quarter. Ariel Investments LLC now owns 1,067,327 shares of the medical research company's stock valued at $197,029,000 after purchasing an additional 169,640 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Charles River Laboratories International by 0.6% in the 4th quarter. Mackenzie Financial Corp now owns 977,073 shares of the medical research company's stock valued at $180,368,000 after purchasing an additional 5,805 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in Charles River Laboratories International during the 4th quarter worth $172,752,000. Dimensional Fund Advisors LP boosted its holdings in shares of Charles River Laboratories International by 25.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 663,504 shares of the medical research company's stock valued at $122,482,000 after acquiring an additional 135,986 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Charles River Laboratories International by 1,721.1% in the first quarter. Assenagon Asset Management S.A. now owns 570,097 shares of the medical research company's stock valued at $85,811,000 after purchasing an additional 538,792 shares during the period. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Joseph W. Laplume sold 400 shares of Charles River Laboratories International stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.04, for a total transaction of $60,016.00. Following the transaction, the executive vice president owned 24,916 shares in the company, valued at approximately $3,738,396.64. The trade was a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

Charles River Laboratories International Stock Up 0.6%

Shares of NYSE CRL traded up $0.86 during mid-day trading on Friday, hitting $156.66. The company had a trading volume of 1,038,291 shares, compared to its average volume of 1,079,568. Charles River Laboratories International, Inc. has a 1-year low of $91.86 and a 1-year high of $230.02. The business's 50-day simple moving average is $156.87 and its 200 day simple moving average is $148.95. The company has a market capitalization of $7.71 billion, a PE ratio of -117.79, a price-to-earnings-growth ratio of 4.97 and a beta of 1.48. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.10.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last announced its 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 business had revenue of $1.03 billion during 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 in the prior year, the firm earned $2.80 earnings per share. On average, analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $188.00 to $182.00 in a research report on Friday, May 23rd. Citigroup upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and boosted their price target for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Finally, Wall Street Zen raised Charles River Laboratories International from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $175.69.

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).