UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 51,622 Shares of Charles River Laboratories International, Inc. $CRL

Key Points

• UBS AM has sold 51,622 shares of Charles River Laboratories, reducing its holdings by 17.3% to 246,628 shares, currently valued at approximately $37.1 million.
• Institutional investors own 98.91% of Charles River Laboratories, with significant stake increases from firms like Goldman Sachs (407.0%) and Assenagon Asset Management (1,721.1%) in the first quarter.
• The stock price of Charles River Laboratories has fluctuated between a 12-month low of $91.86 and a high of $230.02, with a recent opening price of $152.47.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its position in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 17.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 246,628 shares of the medical research company's stock after selling 51,622 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.50% of Charles River Laboratories International worth $37,122,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Charles River Laboratories International by 2.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,131 shares of the medical research company's stock valued at $763,000 after purchasing an additional 105 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Charles River Laboratories International by 5.5% in the 4th quarter. Rafferty Asset Management LLC now owns 6,860 shares of the medical research company's stock valued at $1,266,000 after buying an additional 360 shares during the period. State of Wyoming increased its position in Charles River Laboratories International by 15.3% during the fourth quarter. State of Wyoming now owns 1,260 shares of the medical research company's stock worth $233,000 after buying an additional 167 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Charles River Laboratories International in the fourth quarter valued at $710,000. Finally, Texas Bank & Trust Co purchased a new stake in Charles River Laboratories International during the fourth quarter valued at about $295,000. Institutional investors and hedge funds own 98.91% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on CRL shares. Redburn Atlantic raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and reduced their price target for the company from $188.00 to $182.00 in a report on Friday, May 23rd. JPMorgan Chase & Co. increased their price target 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. Evercore ISI increased their price target on 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 raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and increased their price target for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Finally, Jefferies Financial Group raised Charles River Laboratories International from a "hold" rating to a "buy" rating and increased their target price for the stock from $142.00 to $195.00 in a report on Tuesday, September 9th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $177.07.

Charles River Laboratories International Stock Performance

Shares of NYSE CRL traded down $1.67 during trading hours on Friday, hitting $155.32. 1,280,048 shares of the company's stock were exchanged, compared to its average volume of 774,769. Charles River Laboratories International, Inc. has a 1-year low of $91.86 and a 1-year high of $230.02. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.36 and a quick ratio of 1.10. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of -116.78, a PEG ratio of 4.20 and a beta of 1.47. The company's 50-day moving average price is $160.27 and its 200-day moving average price is $148.45.

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, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $983.76 million. During the same period in the prior year, the company earned $2.80 EPS. Charles River Laboratories International's revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Joseph W. Laplume sold 800 shares of the firm's 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 owned 24,116 shares in the company, valued at $3,800,681.60. This trade represents a 3.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

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).