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

Several other hedge funds have also recently made changes to their positions in CRL. Rothschild Investment LLC increased its position in shares of 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 valued at $26,000 after acquiring an additional 144 shares during the period. HM Payson & Co. acquired a new position in shares of Charles River Laboratories International in the 1st quarter valued at $31,000. Optiver Holding B.V. acquired a new position in shares of Charles River Laboratories International in the 4th quarter valued at $37,000. GeoWealth Management LLC increased its position in shares of 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 valued at $46,000 after acquiring an additional 190 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of 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 valued at $71,000 after acquiring an additional 216 shares during the period. 98.91% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Price Performance

Shares of CRL stock traded down $1.05 during mid-day trading on Wednesday, hitting $162.66. 417,347 shares of the stock were exchanged, compared to its average volume of 955,117. The firm has a fifty day moving average of $158.64 and a 200 day moving average of $148.73. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. Charles River Laboratories International, Inc. has a 52-week low of $91.86 and a 52-week high of $230.02. The company has a market cap of $8.00 billion, a PE ratio of -122.30, a price-to-earnings-growth ratio of 5.22 and a beta of 1.48.

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

Insider Activity

In other news, EVP Joseph W. Laplume sold 800 shares of the 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 sale, the executive vice president directly 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 legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CRL has been the topic of several recent research reports. Evercore ISI upped 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. Redburn Atlantic raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and lowered their price target for the company from $188.00 to $182.00 in a report on Friday, May 23rd. Wall Street Zen lowered shares of Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Citigroup raised shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and upped their price target for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Finally, Robert W. Baird upped their price target on shares of Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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).