Charles River Laboratories International, Inc. (NYSE:CRL) Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,104 shares of the medical research company's stock after selling 11,691 shares during the quarter. Royal Bank of Canada owned 0.30% of Charles River Laboratories International worth $28,632,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. D1 Capital Partners L.P. bought a new position in Charles River Laboratories International during the 4th quarter valued at about $172,752,000. Norges Bank purchased a new stake in shares of Charles River Laboratories International in the 4th quarter worth approximately $98,886,000. Wellington Management Group LLP lifted its position in shares of Charles River Laboratories International by 9.0% in the 4th 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. Nomura Holdings Inc. purchased a new stake in shares of Charles River Laboratories International in the 4th quarter worth approximately $56,820,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Charles River Laboratories International in the 4th quarter worth approximately $42,776,000. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Joseph W. Laplume sold 500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 now directly owns 19,513 shares in the company, valued at $2,837,385.33. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Charles River Laboratories International from $220.00 to $184.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lowered their target price on shares of Charles River Laboratories International from $175.00 to $165.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and lowered their target price for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. Barclays lifted their price objective on shares of Charles River Laboratories International from $145.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. Finally, TD Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating and set a $179.00 price objective for the company in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $171.85.

Charles River Laboratories International Price Performance

NYSE:CRL traded down $1.96 during trading hours on Wednesday, hitting $136.69. 295,050 shares of the stock were exchanged, compared to its average volume of 1,495,501. Charles River Laboratories International, Inc. has a 52-week low of $91.86 and a 52-week high of $254.15. The firm's fifty day moving average price is $130.77 and its 200 day moving average price is $162.06. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65. The company has a market cap of $6.71 billion, a P/E ratio of 911.89, a P/E/G ratio of 4.54 and a beta of 1.50.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The medical research company reported $2.34 EPS for the quarter, topping the consensus estimate of $2.06 by $0.28. The company had revenue of $984.17 million during the quarter, compared to analyst estimates of $942.34 million. Charles River Laboratories International had a return on equity of 14.69% and a net margin of 0.52%. Charles River Laboratories International's quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.27 EPS. As a group, equities research analysts anticipate that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal 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).