Venturi Wealth Management LLC Sells 2,052 Shares of Charles River Laboratories International, Inc. (NYSE:CRL)

Key Points

• Venturi Wealth Management LLC reduced its stake in Charles River Laboratories by 47.0% in the first quarter, selling 2,052 shares and retaining 2,315 shares valued at approximately $348,000.
• Several other institutional investors, including American Century Companies Inc. and Vanguard Group Inc., increased their holdings in Charles River Laboratories during the same period, indicating a mixed sentiment among fund managers.
• Charles River Laboratories reported $2.34 earnings per share for the last quarter, surpassing analysts' estimates, although revenue decreased by 2.7% compared to the previous year.

Venturi Wealth Management LLC decreased its position in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 47.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,315 shares of the medical research company's stock after selling 2,052 shares during the quarter. Venturi Wealth Management LLC's holdings in Charles River Laboratories International were worth $348,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rothschild Investment LLC lifted its holdings 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 valued at $26,000 after acquiring an additional 144 shares during the last quarter. HM Payson & Co. acquired a new stake in Charles River Laboratories International during the first quarter valued at approximately $31,000. Optiver Holding B.V. acquired a new stake in Charles River Laboratories International during the fourth quarter valued at approximately $37,000. GeoWealth Management LLC lifted its stake in Charles River Laboratories International by 311.5% during the fourth quarter. GeoWealth Management LLC now owns 251 shares of the medical research company's stock valued at $46,000 after purchasing an additional 190 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Charles River Laboratories International during the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 98.91% of the company's stock.

Charles River Laboratories International Stock Down 1.7%

Shares of CRL traded down $3.04 during midday trading on Tuesday, reaching $175.95. 172,010 shares of the stock were exchanged, compared to its average volume of 1,297,566. Charles River Laboratories International, Inc. has a 12-month low of $91.86 and a 12-month high of $254.15. The firm has a 50 day simple moving average of $150.76 and a 200-day simple moving average of $149.57. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.78. The company has a market cap of $8.64 billion, a price-to-earnings ratio of -270.88, a P/E/G ratio of 5.99 and a beta of 1.49.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The medical research company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.28. The firm had revenue of $984.17 million for the quarter, compared to analyst estimates of $942.34 million. Charles River Laboratories International had a negative net margin of 0.66% and a positive return on equity of 15.19%. The company's revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 earnings per share. Research analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current year.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $145.41, for a total transaction of $72,705.00. Following the transaction, the executive vice president directly owned 19,513 shares in the company, valued at $2,837,385.33. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CRL shares. Cowen upgraded Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Citigroup raised Charles River Laboratories International from a "neutral" rating to a "buy" rating and upped their target price for the company from $150.00 to $200.00 in a report on Wednesday, July 9th. Evercore ISI upped their target price on Charles River Laboratories International from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Robert W. Baird upped their target price on Charles River Laboratories International from $118.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, TD Cowen raised 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 research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $174.54.

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).