State of New Jersey Common Pension Fund D Sells 1,686 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Charles River Laboratories International by 9.2%, owning 16,720 shares valued at $2.5 million after selling 1,686 shares during the first quarter.
• Charles River Laboratories reported strong quarterly earnings, with $3.12 earnings per share, surpassing analyst estimates of $2.50, alongside a revenue of $1.03 billion for the quarter.
• Analyst ratings for the company are mixed, with five analysts giving a "Buy" rating, nine a "Hold," and one a "Sell," resulting in a consensus price target of approximately $175.69.

State of New Jersey Common Pension Fund D lessened its stake in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 9.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,720 shares of the medical research company's stock after selling 1,686 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Charles River Laboratories International were worth $2,517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in Charles River Laboratories International in the 4th quarter valued at approximately $609,000. GeoWealth Management LLC lifted its position in shares of Charles River Laboratories International by 311.5% in the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock worth $46,000 after purchasing an additional 190 shares in the last quarter. First Trust Advisors LP boosted its holdings in Charles River Laboratories International by 56.7% during the fourth quarter. First Trust Advisors LP now owns 115,483 shares of the medical research company's stock worth $21,318,000 after purchasing an additional 41,788 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Charles River Laboratories International by 0.9% during the fourth quarter. MetLife Investment Management LLC now owns 13,532 shares of the medical research company's stock worth $2,498,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 98.91% of the company's stock.

Insider Transactions at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction dated 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 directly owned 24,116 shares in the company, valued at approximately $3,800,681.60. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Charles River Laboratories International Price Performance

Shares of Charles River Laboratories International stock traded down $1.11 during midday trading on Tuesday, hitting $163.00. 183,740 shares of the company traded hands, compared to its average volume of 1,256,745. The firm's fifty day moving average price is $157.92 and its 200-day moving average price is $148.53. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of -122.67, a PEG ratio of 5.16 and a beta of 1.48. Charles River Laboratories International, Inc. has a 12 month low of $91.86 and a 12 month high of $230.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.36.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.62. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates 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 company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $2.80 earnings per share. As a group, sell-side analysts forecast that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRL. Robert W. Baird upped their price target on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Citigroup raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $150.00 to $200.00 in a report on Wednesday, July 9th. Cowen raised shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Barclays boosted their price objective on Charles River Laboratories International from $155.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, Wall Street Zen cut Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Charles River Laboratories International has a consensus rating of "Hold" and a consensus target price of $175.69.

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).