Raymond James Financial Inc. Reduces Stake in Charles River Laboratories International, Inc. $CRL

Key Points

• Raymond James Financial Inc. has reduced its stake in Charles River Laboratories by 3.8%, now owning 0.45% of the company worth approximately $33.56 million.
• Several institutional investors, including Rothschild Investment LLC and Parallel Advisors LLC, have significantly increased their stakes in Charles River Laboratories this quarter.
• Equity analysts have largely upgraded their ratings for the company, with five giving it a "Buy" rating and an average price target now set at $175.69.

Raymond James Financial Inc. decreased its stake in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 3.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 222,959 shares of the medical research company's stock after selling 8,761 shares during the period. Raymond James Financial Inc. owned 0.45% of Charles River Laboratories International worth $33,560,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC increased its stake in Charles River Laboratories International by 480.0% in the 1st quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock worth $26,000 after acquiring an additional 144 shares during the last quarter. HM Payson & Co. bought a new position in Charles River Laboratories International in the 1st quarter worth about $31,000. Optiver Holding B.V. bought a new position in Charles River Laboratories International in the 4th quarter worth about $37,000. GeoWealth Management LLC increased its stake in Charles River Laboratories International by 311.5% in the 4th quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock worth $46,000 after acquiring an additional 190 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Charles River Laboratories International by 83.7% in the 1st quarter. Parallel Advisors LLC now owns 474 shares of the medical research company's stock worth $71,000 after acquiring an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 98.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Cowen raised Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and raised their price objective for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Barclays raised 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. JPMorgan Chase & Co. raised their price objective on 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, TD Cowen raised 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. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $175.69.

Insider Activity at Charles River Laboratories International

In other news, EVP Joseph W. Laplume sold 800 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $157.60, for a total value of $126,080.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Charles River Laboratories International Price Performance

CRL opened at $161.5530 on Friday. The stock's 50 day simple moving average is $157.67 and its 200 day simple moving average is $148.65. 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, Inc. has a 1 year low of $91.86 and a 1 year high of $230.02. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of -121.47, a PEG ratio of 5.16 and a beta of 1.48.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings data 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. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%.The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $983.76 million. During the same quarter last year, the business posted $2.80 EPS. The business's revenue was up .6% on a year-over-year basis. As a group, analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Charles River Laboratories International Company 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).

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