Norris Perne & French LLP MI Decreases Holdings in Charles River Laboratories International, Inc. $CRL

Key Points

• Norris Perne & French LLP MI reduced its holdings in Charles River Laboratories by 6.8% in Q2, owning 120,322 shares valued at $18.3 million as of the latest filing.
• Several hedge funds increased their investments in Charles River Laboratories, with notable increases including Mirae Asset Global Investments' 15.4% boost and GAMMA Investing's 61.6% rise in Q1.
• Analysts have raised their price targets for Charles River Laboratories, with estimates ranging from $165 to $200, reflecting a generally optimistic outlook despite a consensus rating of "Hold."

Norris Perne & French LLP MI trimmed its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 6.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,322 shares of the medical research company's stock after selling 8,760 shares during the quarter. Norris Perne & French LLP MI owned 0.24% of Charles River Laboratories International worth $18,256,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in shares of Charles River Laboratories International in the first quarter worth $1,231,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Charles River Laboratories International by 15.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,118 shares of the medical research company's stock valued at $952,000 after acquiring an additional 817 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Charles River Laboratories International by 13.1% in the first quarter. Janney Montgomery Scott LLC now owns 44,500 shares of the medical research company's stock valued at $6,698,000 after acquiring an additional 5,148 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Charles River Laboratories International by 61.6% in the first quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock valued at $210,000 after acquiring an additional 533 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in Charles River Laboratories International in the first quarter valued at $213,000. 98.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 800 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $157.60, for a total transaction of $126,080.00. Following the completion of the sale, the executive vice president owned 24,116 shares of the company's stock, valued at $3,800,681.60. This represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CRL shares. Evercore ISI lifted their price target on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Citigroup upgraded 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 report on Wednesday, July 9th. Barclays boosted their target price on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and boosted their target price for the company from $142.00 to $195.00 in a report on Tuesday, September 9th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Charles River Laboratories International has a consensus rating of "Hold" and an average target price of $177.07.

Charles River Laboratories International Price Performance

NYSE CRL opened at $148.61 on Monday. Charles River Laboratories International, Inc. has a 52 week low of $91.86 and a 52 week high of $230.02. The firm has a market capitalization of $7.31 billion, a P/E ratio of -111.74, a PEG ratio of 3.97 and a beta of 1.47. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $159.64 and a 200-day moving average price of $147.42.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 EPS for the quarter, beating the consensus estimate of $2.50 by $0.62. Charles River Laboratories International had a negative net margin of 1.69% and a positive return on equity of 15.74%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $983.76 million. During the same quarter in the prior year, the firm earned $2.80 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

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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