New Age Alpha Advisors LLC Sells 7,789 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• New Age Alpha Advisors LLC has reduced its stake in Charles River Laboratories International by 41.9%, selling 7,789 shares and retaining 10,788 shares worth approximately $1.62 million.
• Institutional ownership of the stock is high, with 98.91% currently held by institutional investors, reflecting significant confidence in the company's prospects.
• Despite mixed analyst ratings, Charles River's stock has recently drawn attention with price target upgrades, with a consensus target price now at $174.92.

New Age Alpha Advisors LLC cut its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 41.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,788 shares of the medical research company's stock after selling 7,789 shares during the quarter. New Age Alpha Advisors LLC's holdings in Charles River Laboratories International were worth $1,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. D1 Capital Partners L.P. bought a new position in Charles River Laboratories International during the fourth quarter valued at $172,752,000. Assenagon Asset Management S.A. boosted its stake in shares of Charles River Laboratories International by 1,721.1% during 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. Nomura Holdings Inc. purchased a new stake in shares of Charles River Laboratories International during the fourth quarter valued at $56,820,000. SG Americas Securities LLC boosted its stake in shares of Charles River Laboratories International by 16,153.2% during the first quarter. SG Americas Securities LLC now owns 267,202 shares of the medical research company's stock valued at $40,219,000 after purchasing an additional 265,558 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Charles River Laboratories International during the fourth quarter valued at $42,776,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

Charles River Laboratories International Trading Up 3.2%

Shares of Charles River Laboratories International stock traded up $4.77 during trading hours on Tuesday, reaching $153.70. The stock had a trading volume of 226,381 shares, compared to its average volume of 1,278,190. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Charles River Laboratories International, Inc. has a 1 year low of $91.86 and a 1 year high of $230.02. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of -115.55, a P/E/G ratio of 4.74 and a beta of 1.48. The firm has a 50 day simple moving average of $155.83 and a two-hundred day simple moving average of $149.00.

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, topping the consensus estimate of $2.50 by $0.62. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $983.76 million. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%. The business's revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $2.80 EPS. As a group, equities research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRL. 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 research note 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 research note on Thursday, May 8th. Barclays lifted their price objective on Charles River Laboratories International from $155.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. TD Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price objective on the stock in a report on Wednesday, May 14th. Finally, Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $175.69.

Insider Buying and Selling

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 400 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $150.04, for a total value of $60,016.00. Following the transaction, the executive vice president directly owned 24,916 shares in the company, valued at approximately $3,738,396.64. This trade represents a 1.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

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).