CIBC Private Wealth Group LLC Decreases Stock Holdings in Charles River Laboratories International, Inc. (NYSE:CRL)

CIBC Private Wealth Group LLC lessened its stake in Charles River Laboratories International, Inc. (NYSE:CRL) by 91.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,597 shares of the medical research company’s stock after selling 139,870 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Charles River Laboratories International were worth $2,555,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Cerity Partners LLC raised its position in shares of Charles River Laboratories International by 65.9% during the 3rd quarter. Cerity Partners LLC now owns 4,891 shares of the medical research company’s stock worth $963,000 after purchasing an additional 1,943 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Charles River Laboratories International by 9.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,210 shares of the medical research company’s stock worth $238,000 after buying an additional 105 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Charles River Laboratories International by 4.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,812 shares of the medical research company’s stock valued at $1,933,000 after acquiring an additional 423 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of Charles River Laboratories International by 15.1% in the third quarter. Public Sector Pension Investment Board now owns 2,282 shares of the medical research company’s stock valued at $449,000 after acquiring an additional 300 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in shares of Charles River Laboratories International by 256.5% in the third quarter. Benjamin Edwards Inc. now owns 1,451 shares of the medical research company’s stock worth $286,000 after acquiring an additional 1,044 shares during the last quarter. 98.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CRL. Bank of America reduced their price objective on Charles River Laboratories International from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. William Blair cut shares of Charles River Laboratories International from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 22nd. UBS Group reaffirmed a “neutral” rating and set a $185.00 price objective (down previously from $250.00) on shares of Charles River Laboratories International in a research note on Friday, January 17th. Morgan Stanley decreased their target price on shares of Charles River Laboratories International from $220.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, Robert W. Baird dropped their price target on Charles River Laboratories International from $177.00 to $173.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $189.77.

Insider Activity at Charles River Laboratories International

In related news, COO Birgit Girshick bought 1,514 shares of the stock in a transaction dated Thursday, February 20th. The stock was acquired at an average price of $164.63 per share, for a total transaction of $249,249.82. Following the acquisition, the chief operating officer now owns 55,058 shares in the company, valued at approximately $9,064,198.54. This represents a 2.83 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph W. Laplume sold 4,400 shares of Charles River Laboratories International stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $162.50, for a total transaction of $715,000.00. Following the sale, the executive vice president now owns 20,013 shares in the company, valued at $3,252,112.50. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Charles River Laboratories International Price Performance

Shares of CRL opened at $149.30 on Thursday. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 995.33, a PEG ratio of 4.54 and a beta of 1.45. The firm’s fifty day simple moving average is $163.57 and its 200-day simple moving average is $181.69. Charles River Laboratories International, Inc. has a twelve month low of $142.76 and a twelve month high of $264.71. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.65.

Charles River Laboratories International (NYSE:CRL) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.16. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $983.63 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 1.1% on a year-over-year basis. During the same period last year, the firm earned $2.46 earnings per share. Equities analysts forecast that Charles River Laboratories International, Inc. will post 9.36 EPS for the current fiscal year.

Charles River Laboratories International 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).